Public Sector Pension Investment Board Purchases 8,734 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Public Sector Pension Investment Board increased its position in shares of Inari Medical, Inc. (NASDAQ:NARI) by 8.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,864 shares of the company’s stock after acquiring an additional 8,734 shares during the quarter. Public Sector Pension Investment Board’s holdings in Inari Medical were worth $5,483,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Inari Medical in the first quarter worth $30,000. GAMMA Investing LLC grew its stake in Inari Medical by 164.7% during the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $34,000 after buying an additional 438 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Inari Medical by 83.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after buying an additional 435 shares in the last quarter. Covestor Ltd increased its position 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 buying an additional 376 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Inari Medical by 39.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after acquiring an additional 522 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Inari Medical Trading Down 2.2 %

Shares of NASDAQ:NARI opened at $41.48 on Thursday. The company has a market capitalization of $2.42 billion, a PE ratio of -101.17 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. The business has a 50 day moving average of $47.15 and a two-hundred day moving average of $46.10.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $143.96 million. Equities research analysts predict that Inari Medical, Inc. will post -0.7 earnings per share for the current fiscal year.

Insider Activity

In related news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 643,296 shares of the company’s stock, valued at approximately $29,482,255.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Inari Medical news, CFO Mitch C. Hill sold 3,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $45.13, for a total transaction of $135,390.00. Following the transaction, the chief financial officer now directly owns 179,600 shares of the company’s stock, valued at $8,105,348. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William Hoffman sold 40,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.83, for a total transaction of $1,833,200.00. Following the sale, the director now directly owns 643,296 shares of the company’s stock, valued at approximately $29,482,255.68. 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 ninety days. Company insiders own 10.60% of the company’s stock.

Wall Street Analysts Forecast Growth

NARI has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Inari Medical in a report on Friday, August 9th. They set a “buy” rating and a $68.00 price objective on the stock. Canaccord Genuity Group upped their price target on shares of Inari Medical from $55.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Stifel Nicolaus started coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They set a “hold” rating and a $50.00 price objective for the company. Leerink Partners began coverage on Inari Medical in a research report on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 target price on the stock. Finally, Leerink Partnrs raised Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $58.44.

About Inari Medical

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.