Point72 Europe London LLP Lowers Holdings in Inari Medical, Inc. (NASDAQ:NARI)

Point72 Europe London LLP lowered its stake in shares of Inari Medical, Inc. (NASDAQ:NARI) by 19.1% in the second quarter, HoldingsChannel reports. The fund owned 329,366 shares of the company’s stock after selling 77,869 shares during the quarter. Inari Medical makes up about 1.3% of Point72 Europe London LLP’s portfolio, making the stock its 21st largest position. Point72 Europe London LLP’s holdings in Inari Medical were worth $15,859,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in Inari Medical by 7.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company’s stock worth $38,693,000 after purchasing an additional 41,555 shares during the period. Norges Bank acquired a new position in shares of Inari Medical during the 4th quarter valued at $29,491,000. D.A. Davidson & CO. boosted its position in Inari Medical by 1.8% during the 4th quarter. D.A. Davidson & CO. now owns 10,570 shares of the company’s stock worth $686,000 after purchasing an additional 188 shares during the period. Assetmark Inc. increased its holdings in Inari Medical by 47.0% in the 4th quarter. Assetmark Inc. now owns 10,454 shares of the company’s stock valued at $679,000 after purchasing an additional 3,344 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in Inari Medical by 1.6% in the fourth quarter. Parallel Advisors LLC now owns 52,523 shares of the company’s stock valued at $3,410,000 after purchasing an additional 827 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director William Hoffman sold 40,000 shares of the stock in a transaction dated 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 $29,482,255.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 462,474 shares in the company, valued at approximately $23,160,697.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $45.83, for a total value of $1,833,200.00. Following the completion of the sale, the director now directly owns 643,296 shares in the company, valued at $29,482,255.68. The disclosure for this sale can be found here. In the last three months, insiders sold 155,520 shares of company stock valued at $8,111,707. Company insiders own 10.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Piper Sandler reiterated a “neutral” rating and set a $50.00 target price on shares of Inari Medical in a report on Monday, August 26th. Truist Financial reiterated a “hold” rating and set a $55.00 price objective (down previously from $60.00) on shares of Inari Medical in a research note on Wednesday, July 31st. Robert W. Baird decreased their target price on shares of Inari Medical from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Wells Fargo & Company lowered their price target on shares of Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, Stifel Nicolaus began coverage on shares of Inari Medical in a report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $58.44.

Inari Medical Stock Performance

Shares of Inari Medical stock opened at $42.43 on Wednesday. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $69.40. The firm’s 50-day simple moving average is $47.50 and its 200-day simple moving average is $46.13.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings data on Tuesday, July 30th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.25). The firm had revenue of $145.82 million for the quarter, compared to the consensus estimate of $143.96 million. Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. As a group, equities research analysts expect that Inari Medical, Inc. will post -0.7 earnings per share for the current year.

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.