First Light Asset Management LLC Has $22.75 Million Stock Holdings in Inari Medical, Inc. (NASDAQ:NARI)

First Light Asset Management LLC grew its stake in Inari Medical, Inc. (NASDAQ:NARI) by 120.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 472,384 shares of the company’s stock after purchasing an additional 258,444 shares during the quarter. Inari Medical makes up 2.0% of First Light Asset Management LLC’s holdings, making the stock its 26th largest holding. First Light Asset Management LLC’s holdings in Inari Medical were worth $22,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in Inari Medical in the first quarter valued at approximately $30,000. GAMMA Investing LLC grew its stake 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 increased its holdings in Inari Medical by 83.5% during the second 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 increased its holdings in Inari Medical by 30.2% during the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after buying an additional 376 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in Inari Medical by 39.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after acquiring an additional 522 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NARI. Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a report on Wednesday, July 31st. Leerink Partners started coverage on Inari Medical in a research note on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 price objective on the stock. Leerink Partnrs raised Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Robert W. Baird decreased their target price on Inari Medical from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Finally, William Blair began coverage on Inari Medical in a report on Thursday, July 25th. They set an “outperform” rating for the company. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $58.44.

Insider Activity

In other news, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $50.08, for a total value of $150,240.00. Following the sale, the chief executive officer now directly owns 462,474 shares in the company, valued at approximately $23,160,697.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $50.08, for a total value of $150,240.00. Following the completion of the transaction, the chief executive officer now directly owns 462,474 shares in the company, valued at $23,160,697.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mitch C. Hill sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $53.95, for a total value of $269,750.00. Following the completion of the transaction, the chief financial officer now directly owns 179,227 shares of the company’s stock, valued at approximately $9,669,296.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 155,520 shares of company stock worth $8,111,707. Insiders own 10.60% of the company’s stock.

Inari Medical Stock Down 1.2 %

NARI stock opened at $43.17 on Tuesday. Inari Medical, Inc. has a 52 week low of $36.73 and a 52 week high of $69.40. The business has a 50-day simple moving average of $47.81 and a 200 day simple moving average of $46.13. The company has a market cap of $2.51 billion, a PE ratio of -105.29 and a beta of 1.00.

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