Inari Medical, Inc. (NASDAQ:NARI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Inari Medical, Inc. (NASDAQ:NARI) by 2.3% during the third quarter, Holdings Channel.com reports. The firm owned 293,535 shares of the company’s stock after selling 6,888 shares during the period. Principal Financial Group Inc.’s holdings in Inari Medical were worth $12,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in NARI. GAMMA Investing LLC lifted its position in shares of Inari Medical by 164.7% during the 2nd 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 position 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 acquiring an additional 435 shares during the period. Covestor Ltd lifted its holdings in 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 purchasing an additional 376 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Inari Medical by 39.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after purchasing an additional 522 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Inari Medical during the second quarter worth about $104,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Inari Medical Stock Up 2.7 %

Shares of Inari Medical stock opened at $50.56 on Monday. The firm has a market cap of $2.96 billion, a PE ratio of -37.45 and a beta of 0.96. The business’s fifty day simple moving average is $45.19 and its 200-day simple moving average is $47.05. Inari Medical, Inc. has a 52 week low of $36.73 and a 52 week high of $67.13.

Insider Activity

In related news, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was 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 in the company, valued at $29,482,255.68. This trade represents a 5.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mitch C. Hill sold 3,000 shares of the business’s stock in a transaction dated 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 owns 179,600 shares in the company, valued at $8,105,348. This trade represents a 1.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 126,000 shares of company stock valued at $5,921,390. Company insiders own 10.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NARI shares. Canaccord Genuity Group raised their target price on Inari Medical from $71.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Piper Sandler raised their price objective on Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Leerink Partners assumed coverage on shares of Inari Medical in a report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 target price for the company. Leerink Partnrs upgraded shares of Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $58.89.

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.