Inari Medical, Inc. (NASDAQ:NARI) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System grew its holdings in shares of Inari Medical, Inc. (NASDAQ:NARI) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,602 shares of the company’s stock after purchasing an additional 358 shares during the period. Arizona State Retirement System’s holdings in Inari Medical were worth $703,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NARI shares. Piper Sandler reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Inari Medical in a report on Monday, August 26th. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research report on Wednesday, July 31st. Robert W. Baird cut their price target on Inari Medical from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company decreased their price objective on Inari Medical from $84.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, William Blair began coverage on shares of Inari Medical in a research note on Thursday, July 25th. They issued an “outperform” rating for the company. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $59.50.

Insider Activity at Inari Medical

In other news, CFO Mitch C. Hill sold 3,000 shares of Inari Medical stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $45.13, for a total value of $135,390.00. Following the transaction, the chief financial officer now directly owns 179,600 shares of the company’s stock, valued at approximately $8,105,348. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Thomas Tu sold 16,520 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $55.09, for a total value of $910,086.80. Following the transaction, the insider now owns 313,257 shares of the company’s stock, valued at approximately $17,257,328.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mitch C. Hill sold 3,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $45.13, for a total transaction of $135,390.00. Following the sale, the chief financial officer now directly owns 179,600 shares of the company’s stock, valued at $8,105,348. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,780 shares of company stock worth $6,290,464. 10.60% of the stock is owned by insiders.

Inari Medical Trading Up 1.2 %

Shares of NASDAQ:NARI opened at $46.52 on Monday. Inari Medical, Inc. has a 12-month low of $36.73 and a 12-month high of $69.40. The stock’s 50-day moving average price is $48.85 and its two-hundred day moving average price is $46.19. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of -113.46 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last released its earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, research analysts forecast that Inari Medical, Inc. will post -0.7 earnings per share for the current fiscal year.

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.