Commonwealth Equity Services LLC Makes New Investment in Inari Medical, Inc. (NASDAQ:NARI)

Commonwealth Equity Services LLC purchased a new stake in Inari Medical, Inc. (NASDAQ:NARI) during the second quarter, HoldingsChannel reports. The institutional investor purchased 8,745 shares of the company’s stock, valued at approximately $421,000.

A number of other hedge funds also recently made changes to their positions in NARI. BI Asset Management Fondsmaeglerselskab A S bought a new position in Inari Medical in the 1st quarter valued at approximately $30,000. GAMMA Investing LLC grew its position in Inari Medical by 164.7% in the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after purchasing an additional 438 shares during the period. Nisa Investment Advisors LLC grew its position in Inari Medical by 83.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after purchasing an additional 435 shares during the period. Covestor Ltd boosted its holdings in Inari Medical by 30.2% during the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after acquiring an additional 376 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Inari Medical by 16.4% during the 1st quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock worth $117,000 after acquiring an additional 344 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Inari Medical Trading Down 0.4 %

NARI opened at $43.68 on Friday. The stock has a fifty day simple moving average of $48.04 and a two-hundred day simple moving average of $46.10. The company has a market cap of $2.54 billion, a price-to-earnings ratio of -106.54 and a beta of 1.00. Inari Medical, Inc. has a 12-month low of $36.73 and a 12-month high of $69.40.

Inari Medical (NASDAQ:NARI) last released its earnings results on Tuesday, July 30th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.25). Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. The company had revenue of $145.82 million during the quarter, compared to analysts’ expectations of $143.96 million. On average, analysts predict that Inari Medical, Inc. will post -0.7 EPS for the current year.

Insider Activity at Inari Medical

In related news, Director William Hoffman sold 60,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $56.74, for a total transaction of $3,404,400.00. Following the sale, the director now directly owns 743,296 shares of the company’s stock, valued at $42,174,615.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $50.08, for a total transaction of $150,240.00. Following the transaction, the chief executive officer now directly owns 462,474 shares of the company’s stock, valued at approximately $23,160,697.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William Hoffman sold 60,000 shares of Inari Medical stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $56.74, for a total value of $3,404,400.00. Following the transaction, the director now directly owns 743,296 shares in the company, valued at $42,174,615.04. The disclosure for this sale can be found here. Insiders have sold 155,520 shares of company stock valued at $8,111,707 over the last ninety days. Insiders own 10.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Stifel Nicolaus started coverage on Inari Medical in a research note on Tuesday, September 17th. They set a “hold” rating and a $50.00 target price on the stock. Truist Financial reissued a “hold” rating and set a $55.00 price objective (down previously from $60.00) on shares of Inari Medical in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on Inari Medical in a report on Friday, August 9th. They set a “buy” rating and a $68.00 price objective for the company. Leerink Partners initiated coverage on Inari Medical in a research note on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 target price for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research note on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Inari Medical has a consensus rating of “Hold” and a consensus target price of $58.44.

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.