State of New Jersey Common Pension Fund D Lowers Stock Holdings in Inari Medical, Inc. (NASDAQ:NARI)

State of New Jersey Common Pension Fund D lessened its stake in Inari Medical, Inc. (NASDAQ:NARI) by 24.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 37,257 shares of the company’s stock after selling 12,204 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Inari Medical were worth $1,794,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. D.A. Davidson & CO. boosted its stake in shares of Inari Medical by 1.8% in the fourth quarter. D.A. Davidson & CO. now owns 10,570 shares of the company’s stock valued at $686,000 after buying an additional 188 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Inari Medical by 16.4% in the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock worth $117,000 after buying an additional 344 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Inari Medical by 7.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock worth $234,000 after buying an additional 348 shares during the last quarter. Arizona State Retirement System raised its position in shares of Inari Medical by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock worth $703,000 after purchasing an additional 358 shares during the period. Finally, Covestor Ltd boosted its stake in Inari Medical by 30.2% during the 1st 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. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insiders Place Their Bets

In other news, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.83, for a total transaction of $1,833,200.00. Following the sale, the director now owns 643,296 shares in the company, valued at approximately $29,482,255.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Inari Medical news, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.83, for a total value of $1,833,200.00. Following the sale, the director now owns 643,296 shares of the company’s stock, valued at approximately $29,482,255.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 462,474 shares of the company’s stock, valued at $23,160,697.92. The disclosure for this sale can be found here. Insiders have sold 155,520 shares of company stock worth $8,111,707 in the last three months. 10.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NARI has been the subject of a number of analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Inari Medical in a research report on Monday, August 26th. Wells Fargo & Company decreased their price target on Inari Medical from $84.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a report on Wednesday, July 31st. Truist Financial restated a “hold” rating and issued a $55.00 price objective (down previously from $60.00) on shares of Inari Medical in a research report on Wednesday, July 31st. Finally, Canaccord Genuity Group raised their price objective on Inari Medical from $55.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $58.44.

Inari Medical Price Performance

NASDAQ:NARI opened at $42.43 on Wednesday. Inari Medical, Inc. has a one year low of $36.73 and a one year high of $69.40. The firm has a 50-day moving average of $47.50 and a 200-day moving average of $46.13. The company has a market cap of $2.47 billion, a PE ratio of -103.49 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last issued its quarterly earnings data on Tuesday, July 30th. The company reported ($0.41) earnings per share (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 firm had revenue of $145.82 million during the quarter, compared to the consensus estimate of $143.96 million. On average, equities research analysts expect that Inari Medical, Inc. will post -0.7 earnings per share for the current fiscal year.

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.