Louisiana State Employees Retirement System Trims Position in Inari Medical, Inc. (NASDAQ:NARI)

Louisiana State Employees Retirement System trimmed its position in shares of Inari Medical, Inc. (NASDAQ:NARI) by 6.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,200 shares of the company’s stock after selling 1,800 shares during the period. Louisiana State Employees Retirement System’s holdings in Inari Medical were worth $998,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NARI. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Inari Medical in the 1st quarter worth $30,000. GAMMA Investing LLC grew its position in shares of Inari Medical by 164.7% during 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 grew its position in shares of 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 purchasing an additional 435 shares in the last quarter. Covestor Ltd raised its stake in Inari Medical by 30.2% during the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after purchasing an additional 376 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in Inari Medical by 39.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after purchasing an additional 522 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Activity at Inari Medical

In other Inari Medical news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.83, for a total transaction of $1,833,200.00. Following the completion of the transaction, the director now directly owns 643,296 shares of the company’s stock, valued at $29,482,255.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.83, for a total value of $1,833,200.00. Following the completion of the sale, the director now owns 643,296 shares in the company, valued at approximately $29,482,255.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the transaction, the chief executive officer now owns 445,310 shares in the company, valued at $22,265,500. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,000 shares of company stock worth $6,161,340. Company insiders own 10.60% of the company’s stock.

Inari Medical Price Performance

Shares of NARI stock opened at $48.74 on Monday. The company has a market cap of $2.85 billion, a PE ratio of -36.10 and a beta of 0.96. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $67.13. The stock’s 50 day simple moving average is $43.66 and its two-hundred day simple moving average is $46.10.

Analysts Set New Price Targets

NARI has been the topic of several recent analyst reports. Leerink Partnrs upgraded shares of Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Robert W. Baird lifted their price target on shares of Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Piper Sandler increased their price objective on shares of Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Canaccord Genuity Group raised their price objective on Inari Medical from $71.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Inari Medical in a research report on Friday, August 9th. They issued a “buy” rating and a $68.00 target price on the stock. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $58.89.

Inari Medical Profile

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.