Handelsbanken Fonder AB Grows Stock Holdings in Inari Medical, Inc. (NASDAQ:NARI)

Handelsbanken Fonder AB lifted its stake in Inari Medical, Inc. (NASDAQ:NARI) by 22.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,000 shares of the company’s stock after purchasing an additional 2,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Inari Medical were worth $660,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Inari Medical in the first quarter worth $30,000. GAMMA Investing LLC lifted 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 worth $34,000 after buying an additional 438 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Inari Medical by 83.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after purchasing an additional 435 shares during the last quarter. Covestor Ltd boosted its position in shares of Inari Medical by 30.2% during the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after buying an additional 376 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Inari Medical by 39.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after acquiring an additional 522 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Inari Medical Price Performance

NARI opened at $41.80 on Monday. The firm has a market cap of $2.44 billion, a P/E ratio of -42.22 and a beta of 1.00. Inari Medical, Inc. has a 1-year low of $36.73 and a 1-year high of $67.13. The company has a 50 day simple moving average of $44.48 and a two-hundred day simple moving average of $45.94.

Inari Medical (NASDAQ:NARI) last issued its earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.25). The firm had revenue of $145.82 million during 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%. Equities analysts anticipate that Inari Medical, Inc. will post -0.7 earnings per share for the current year.

Wall Street Analyst Weigh In

NARI has been the subject of a number of research reports. Stifel Nicolaus began coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They set a “hold” rating and a $50.00 target price for the company. Wells Fargo & Company reduced their price objective on Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Truist Financial reissued a “hold” rating and issued a $55.00 target price (down from $60.00) on shares of Inari Medical in a research report on Wednesday, July 31st. Piper Sandler reaffirmed a “neutral” rating and set a $50.00 price target on shares of Inari Medical in a research report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Inari Medical in a research note on Friday, August 9th. They issued a “buy” rating and a $68.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $58.44.

Insider Activity at Inari Medical

In other Inari Medical news, Director William Hoffman sold 60,000 shares of the company’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 value of $3,404,400.00. Following the completion of the transaction, the director now directly owns 743,296 shares in the company, valued at $42,174,615.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $55.23, for a total value of $165,690.00. Following the sale, the chief executive officer now directly owns 455,252 shares in the company, valued at approximately $25,143,567.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William Hoffman sold 60,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 743,296 shares in the company, valued at approximately $42,174,615.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,000 shares of company stock valued at $5,778,630. 10.60% of the stock is owned by company insiders.

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.