Point72 Asia Singapore Pte. Ltd. Takes $104,000 Position in Inari Medical, Inc. (NASDAQ:NARI)

Point72 Asia Singapore Pte. Ltd. acquired a new position in Inari Medical, Inc. (NASDAQ:NARI) during the 2nd quarter, Holdings Channel reports. The firm acquired 2,159 shares of the company’s stock, valued at approximately $104,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Inari Medical in the fourth quarter worth approximately $29,491,000. Motley Fool Asset Management LLC increased its stake in shares of Inari Medical by 46.2% in the 1st quarter. Motley Fool Asset Management LLC now owns 64,677 shares of the company’s stock worth $3,103,000 after purchasing an additional 20,438 shares in the last quarter. Bamco Inc. NY increased its stake in shares of Inari Medical by 27.4% in the 1st quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock worth $37,288,000 after purchasing an additional 167,000 shares in the last quarter. Point72 Europe London LLP raised its holdings in Inari Medical by 91.8% in the 4th quarter. Point72 Europe London LLP now owns 332,202 shares of the company’s stock worth $21,567,000 after purchasing an additional 158,997 shares during the period. Finally, Maryland State Retirement & Pension System purchased a new position in Inari Medical during the first quarter valued at $886,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Inari Medical Stock Up 1.3 %

NARI opened at $41.20 on Friday. The company has a market capitalization of $2.40 billion, a PE ratio of -100.49 and a beta of 1.00. The firm has a 50-day simple moving average of $46.60 and a two-hundred day simple moving average of $46.08. Inari Medical, Inc. has a 52 week low of $36.73 and a 52 week high of $69.40.

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

Insider Activity at Inari Medical

In related news, Director William Hoffman sold 60,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $56.74, for a total transaction of $3,404,400.00. Following the sale, the director now owns 743,296 shares of the company’s stock, valued at $42,174,615.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Inari Medical news, Director William Hoffman sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $56.74, for a total transaction of $3,404,400.00. Following the sale, the director now directly owns 743,296 shares of the company’s stock, valued at $42,174,615.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas Tu sold 16,520 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 313,257 shares of the company’s stock, valued at $17,257,328.13. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,520 shares of company stock valued at $8,111,707. 10.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on NARI shares. William Blair began coverage on Inari Medical in a research note on Thursday, July 25th. They issued an “outperform” rating on the stock. Leerink Partners started coverage on shares of Inari Medical in a research note on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 target price on the stock. Leerink Partnrs upgraded shares of Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company decreased their price objective on shares of Inari Medical from $84.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Robert W. Baird dropped their target price on shares of Inari Medical from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $58.44.

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.