Inari Medical, Inc. (NASDAQ:NARI) Holdings Decreased by Amalgamated Bank

Amalgamated Bank cut its position in shares of Inari Medical, Inc. (NASDAQ:NARI) by 2.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,871 shares of the company’s stock after selling 345 shares during the quarter. Amalgamated Bank’s holdings in Inari Medical were worth $764,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Inari Medical during the first quarter worth $30,000. GAMMA Investing LLC raised its stake in Inari Medical by 164.7% during the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $34,000 after acquiring an additional 438 shares during the period. Nisa Investment Advisors LLC boosted 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 purchasing an additional 435 shares during the period. Covestor Ltd grew its stake 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 buying an additional 376 shares during the last quarter. Finally, Quest Partners LLC increased its position in Inari Medical by 31,257.1% in the second quarter. Quest Partners LLC now owns 2,195 shares of the company’s stock worth $106,000 after buying an additional 2,188 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Inari Medical Stock Up 1.3 %

Shares of NARI stock opened at $41.20 on Friday. The stock has a 50-day simple moving average of $46.60 and a 200 day simple moving average of $46.05. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $69.40. The stock has a market capitalization of $2.40 billion, a P/E ratio of -100.49 and a beta of 1.00.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NARI. Stifel Nicolaus started coverage on shares of Inari Medical in a report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price target for the company. Wells Fargo & Company decreased their target price on shares of Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Leerink Partners assumed coverage on Inari Medical in a report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price target on the stock. Leerink Partnrs raised Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $50.00 target price on shares of Inari Medical in a research note on Monday, August 26th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $58.44.

Insider Transactions at Inari Medical

In other news, Director William Hoffman sold 60,000 shares of the business’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Inari Medical news, 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 in the company, valued at approximately $23,160,697.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Hoffman sold 60,000 shares of the company’s 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 completion of 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 sold a total of 155,520 shares of company stock valued at $8,111,707 in the last three months. 10.60% of the stock is currently owned by corporate insiders.

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.