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

Principal Financial Group Inc. grew its stake in Inari Medical, Inc. (NASDAQ:NARI) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 308,903 shares of the company’s stock after buying an additional 15,368 shares during the period. Principal Financial Group Inc.’s holdings in Inari Medical were worth $15,769,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NARI. R Squared Ltd acquired a new position in shares of Inari Medical in the 4th quarter valued at $45,000. KBC Group NV raised its position in Inari Medical by 39.0% in the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock valued at $73,000 after purchasing an additional 498 shares during the last quarter. Covestor Ltd raised its position in Inari Medical by 63.5% in the 3rd quarter. Covestor Ltd now owns 2,384 shares of the company’s stock valued at $99,000 after purchasing an additional 926 shares during the last quarter. GAMMA Investing LLC raised its position in Inari Medical by 66.8% in the 4th quarter. GAMMA Investing LLC now owns 1,963 shares of the company’s stock valued at $100,000 after purchasing an additional 786 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in Inari Medical by 44.2% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,113 shares of the company’s stock valued at $128,000 after purchasing an additional 954 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Inari Medical Stock Performance

Shares of Inari Medical stock opened at $79.97 on Wednesday. The firm has a fifty day moving average of $72.43 and a two-hundred day moving average of $55.98. The company has a market cap of $4.68 billion, a P/E ratio of -59.24 and a beta of 1.02. Inari Medical, Inc. has a one year low of $36.73 and a one year high of $79.99.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wells Fargo & Company reiterated an “equal weight” rating and issued a $80.00 price target (up previously from $65.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Canaccord Genuity Group reiterated a “hold” rating and issued a $80.00 price target (up previously from $74.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Oppenheimer assumed coverage on shares of Inari Medical in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price target for the company. Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price target (down previously from $81.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Finally, Truist Financial upped their price objective on shares of Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Inari Medical has an average rating of “Hold” and an average price target of $68.00.

Insider Activity

In other news, Director William Hoffman sold 60,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $55.66, for a total value of $3,339,600.00. Following the completion of the transaction, the director now owns 441,233 shares in the company, valued at $24,559,028.78. This trade represents a 11.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $55.29, for a total transaction of $165,870.00. Following the completion of the transaction, the chief executive officer now owns 439,310 shares of the company’s stock, valued at $24,289,449.90. This represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,000 shares of company stock worth $15,599,470 in the last 90 days. 10.60% of the stock is currently owned by corporate insiders.

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.