Cibc World Markets Corp Buys New Shares in Inari Medical, Inc. (NASDAQ:NARI)

Cibc World Markets Corp bought a new position in Inari Medical, Inc. (NASDAQ:NARI) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 4,952 shares of the company’s stock, valued at approximately $253,000.

Other hedge funds have also added to or reduced their stakes in the company. Vestal Point Capital LP lifted its stake in shares of Inari Medical by 342.9% in the 3rd quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock valued at $63,922,000 after acquiring an additional 1,200,000 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position 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 valued at $32,790,000 after purchasing an additional 400,198 shares during the last quarter. Bamco Inc. NY boosted its stake in shares of Inari Medical by 29.5% during the third quarter. Bamco Inc. NY now owns 1,006,129 shares of the company’s stock valued at $41,493,000 after purchasing an additional 228,977 shares during the period. Point72 DIFC Ltd bought a new position in shares of Inari Medical in the third quarter worth approximately $9,008,000. Finally, Jennison Associates LLC increased its stake in shares of 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 buying an additional 186,617 shares during the period. 90.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director William Hoffman sold 200,000 shares of Inari Medical stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $60.47, for a total transaction of $12,094,000.00. Following the completion of the transaction, the director now directly owns 238,987 shares in the company, valued at approximately $14,451,543.89. This trade represents a 45.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.60% of the company’s stock.

Inari Medical Price Performance

NASDAQ:NARI opened at $79.97 on Wednesday. The firm’s 50-day moving average price is $79.84 and its 200-day moving average price is $60.81. The company has a market capitalization of $4.68 billion, a PE ratio of -59.24 and a beta of 1.02. Inari Medical, Inc. has a 1-year low of $36.73 and a 1-year high of $79.99.

Analyst Ratings Changes

NARI has been the subject of several analyst reports. BTIG Research reissued a “neutral” rating on shares of Inari Medical in a research report on Wednesday, January 8th. Canaccord Genuity Group reiterated a “hold” rating and set a $80.00 target price (up from $74.00) on shares of Inari Medical in a report on Tuesday, January 7th. Oppenheimer assumed coverage on Inari Medical in a report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price target on the stock. Truist Financial increased their price objective on Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $80.00 target price (up from $65.00) 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 given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $68.00.

Inari Medical Company 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.