Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in Inari Medical, Inc. (NASDAQ:NARI)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Inari Medical, Inc. (NASDAQ:NARI) by 9.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,026 shares of the company’s stock after purchasing an additional 1,438 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Inari Medical were worth $818,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NARI. Vestal Point Capital LP boosted its stake in shares of Inari Medical by 342.9% during the third quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock valued at $63,922,000 after purchasing an additional 1,200,000 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Inari Medical by 101.3% in the third quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company’s stock worth $32,790,000 after acquiring an additional 400,198 shares during the period. Bamco Inc. NY lifted its stake in Inari Medical by 29.5% in the third quarter. Bamco Inc. NY now owns 1,006,129 shares of the company’s stock worth $41,493,000 after acquiring an additional 228,977 shares during the period. Point72 DIFC Ltd purchased a new stake in Inari Medical in the third quarter worth about $9,008,000. Finally, Jennison Associates LLC lifted its stake in Inari Medical by 11.8% in the fourth quarter. Jennison Associates LLC now owns 1,763,258 shares of the company’s stock worth $90,014,000 after acquiring an additional 186,617 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director William Hoffman sold 200,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $60.47, for a total value of $12,094,000.00. Following the transaction, the director now owns 238,987 shares in the company, valued at approximately $14,451,543.89. This represents a 45.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.60% of the company’s stock.

Inari Medical Price Performance

NARI opened at $79.97 on Friday. Inari Medical, Inc. has a 52-week low of $36.73 and a 52-week high of $79.99. The company has a market cap of $4.68 billion, a P/E ratio of -59.24 and a beta of 1.02. The firm’s 50-day moving average price is $79.81 and its 200-day moving average price is $60.07.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. BTIG Research reaffirmed a “neutral” rating on shares of Inari Medical in a research note on Wednesday, January 8th. Baird R W lowered shares of Inari Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $80.00 price objective (up from $74.00) on shares of Inari Medical in a research note on Tuesday, January 7th. Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 price objective (down from $81.00) on shares of Inari Medical in a research note on Tuesday, January 7th. Finally, William Blair reaffirmed a “market perform” rating on shares of Inari Medical in a research note on Tuesday, January 7th. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $68.00.

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.