Benjamin F. Edwards & Company Inc. Grows Stock Position in Inari Medical, Inc. (NASDAQ:NARI)

Benjamin F. Edwards & Company Inc. grew its position in shares of Inari Medical, Inc. (NASDAQ:NARI) by 39.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,847 shares of the company’s stock after purchasing an additional 522 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Inari Medical were worth $89,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Inari Medical by 11.1% during the 1st quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock worth $268,681,000 after buying an additional 561,562 shares during the period. Norges Bank purchased a new stake in shares of Inari Medical during the fourth quarter worth about $29,491,000. First Light Asset Management LLC acquired a new position in shares of Inari Medical in the first quarter worth about $10,265,000. American Century Companies Inc. boosted its holdings in Inari Medical by 26.8% in the second quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock valued at $47,231,000 after purchasing an additional 207,485 shares during the last quarter. Finally, Peregrine Capital Management LLC acquired a new stake in Inari Medical during the 2nd quarter valued at approximately $8,664,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Inari Medical Stock Up 1.3 %

Shares of NARI stock opened at $41.20 on Friday. The company has a market cap of $2.40 billion, a P/E ratio of -100.49 and a beta of 1.00. The business has a 50 day moving average of $46.60 and a two-hundred day moving average of $46.05. Inari Medical, Inc. has a 52 week low of $36.73 and a 52 week high of $69.40.

Inari Medical (NASDAQ:NARI) last released 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). The company had revenue of $145.82 million for the quarter, compared to analyst estimates of $143.96 million. Inari Medical had a negative net margin of 10.42% and a negative return on equity of 7.51%. Analysts expect that Inari Medical, Inc. will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling

In other Inari Medical news, Director William Hoffman sold 60,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were 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 of the company’s stock, valued at approximately $42,174,615.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Thomas Tu sold 16,520 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $55.09, for a total transaction of $910,086.80. Following the transaction, the insider now owns 313,257 shares in the company, valued at $17,257,328.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Hoffman sold 60,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $42,174,615.04. The disclosure for this sale can be found here. Insiders have sold a total of 155,520 shares of company stock valued at $8,111,707 in the last quarter. Company insiders own 10.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on NARI. Stifel Nicolaus initiated coverage on Inari Medical in a research report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 target price on the stock. Leerink Partners started coverage on shares of Inari Medical in a report on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 price target on the stock. Truist Financial reiterated a “hold” rating and set a $55.00 price objective (down from $60.00) on shares of Inari Medical in a research note on Wednesday, July 31st. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research report on Wednesday, July 31st. Finally, Leerink Partnrs raised shares of Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average 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.