Rhumbline Advisers Sells 1,038 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Rhumbline Advisers reduced its position in Inari Medical, Inc. (NASDAQ:NARI) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,083 shares of the company’s stock after selling 1,038 shares during the quarter. Rhumbline Advisers owned 0.26% of Inari Medical worth $7,226,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Inari Medical in the first quarter valued at about $30,000. GAMMA Investing LLC raised its holdings in Inari Medical by 164.7% in the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $34,000 after purchasing an additional 438 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Inari Medical by 83.5% in the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after purchasing an additional 435 shares in the last quarter. Covestor Ltd raised its holdings in Inari Medical by 30.2% in the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after purchasing an additional 376 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in Inari Medical by 16.4% in the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock worth $117,000 after purchasing an additional 344 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Inari Medical Stock Up 1.2 %

Shares of NASDAQ:NARI opened at $46.52 on Friday. The business has a fifty day moving average of $48.94 and a two-hundred day moving average of $46.34. The stock has a market cap of $2.71 billion, a P/E ratio of -113.46 and a beta of 1.00. Inari Medical, Inc. has a 52-week low of $36.73 and a 52-week high of $69.40.

Inari Medical (NASDAQ:NARI) last issued its earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.25). The company had revenue of $145.82 million during the quarter, compared to analysts’ expectations of $143.96 million. Inari Medical had a negative net margin of 10.42% and a negative return on equity of 7.51%. On average, equities analysts anticipate that Inari Medical, Inc. will post -0.7 earnings per share for the current year.

Insider Transactions at Inari Medical

In related news, CFO Mitch C. Hill sold 3,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $45.13, for a total transaction of $135,390.00. Following the completion of the transaction, the chief financial officer now directly owns 179,600 shares in the company, valued at approximately $8,105,348. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Mitch C. Hill sold 3,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $45.13, for a total transaction of $135,390.00. Following the completion of the transaction, the chief financial officer now directly owns 179,600 shares in the company, valued at approximately $8,105,348. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Hoffman sold 60,000 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $56.74, for a total value of $3,404,400.00. Following the completion of the sale, the director now directly owns 743,296 shares in the company, valued at approximately $42,174,615.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,780 shares of company stock worth $6,290,464. 10.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NARI. Canaccord Genuity Group boosted their target price on shares of Inari Medical from $55.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Piper Sandler restated a “neutral” rating and set a $50.00 price target on shares of Inari Medical in a research note on Monday, August 26th. Leerink Partners started coverage on Inari Medical in a research note on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price target on the stock. Robert W. Baird dropped their price target on Inari Medical from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Finally, William Blair assumed coverage on Inari Medical in a research note on Thursday, July 25th. They set an “outperform” rating on the stock. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.50.

About Inari Medical

Inari Medical, Inc builds minimally invasive, novel, and catheter-based mechanical thrombectomy devices and accessories for the specific disease states in the United States. The company provides ClotTriever system, which is designed to core, capture, and remove large clots from large vessels for treatment of deep vein thrombosis and peripheral thrombus; FlowTriever system, a large bore catheter-based aspiration and mechanical thrombectomy system to remove large clots from large vessels in the peripheral vasculature for treating pulmonary embolism and other complex venous thromboembolism cases; InThrill system to treat small vessel thrombosis; and LimFlow system for patients who have chronic limb-threatening ischemia with no suitable endovascular or surgical revascularization options and risk of major amputation.