Marshall Wace LLP Lowers Holdings in Inari Medical, Inc. (NASDAQ:NARI)

Marshall Wace LLP decreased its holdings in Inari Medical, Inc. (NASDAQ:NARI) by 60.4% in the second quarter, HoldingsChannel.com reports. The fund owned 284,609 shares of the company’s stock after selling 434,290 shares during the quarter. Marshall Wace LLP’s holdings in Inari Medical were worth $13,704,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Inari Medical during the first quarter valued at $30,000. GAMMA Investing LLC boosted its stake in Inari Medical by 164.7% during the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after buying an additional 438 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Inari Medical by 83.5% during the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after buying an additional 435 shares during the last quarter. Covestor Ltd increased its stake in Inari Medical by 30.2% in the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after acquiring an additional 376 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Inari Medical by 39.4% during the 2nd 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 Stock Performance

NARI opened at $41.20 on Friday. Inari Medical, Inc. has a one year low of $36.73 and a one year high of $69.40. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -100.49 and a beta of 1.00. The stock’s 50 day moving average price is $46.60 and its 200-day moving average price is $46.08.

Inari Medical (NASDAQ:NARI) last released its earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.25). The business had revenue of $145.82 million during the quarter, compared to analysts’ expectations 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, analysts predict that Inari Medical, Inc. will post -0.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NARI shares. Robert W. Baird cut their target price on shares of Inari Medical from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Canaccord Genuity Group lifted their price objective on shares of Inari Medical from $55.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Piper Sandler restated a “neutral” rating and set a $50.00 target price on shares of Inari Medical in a research report on Monday, August 26th. Leerink Partners assumed coverage on Inari Medical in a research report on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 price target for the company. Finally, Stifel Nicolaus started coverage on Inari Medical in a research note on Tuesday, September 17th. They set a “hold” rating and a $50.00 price objective on the stock. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Inari Medical currently has an average rating of “Hold” and a consensus price target of $58.44.

Insider Activity at Inari Medical

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $50.08, for a total value of $150,240.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $50.08, for a total value of $150,240.00. Following the transaction, the chief executive officer now owns 462,474 shares of the company’s stock, valued at $23,160,697.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas Tu sold 16,520 shares of Inari Medical stock in a transaction on Monday, July 15th. The shares were sold at an average price of $55.09, for a total value of $910,086.80. Following the sale, the insider now directly owns 313,257 shares of the company’s stock, valued at $17,257,328.13. The disclosure for this sale can be found here. Insiders sold 155,520 shares of company stock worth $8,111,707 in the last 90 days. 10.60% of the stock is 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.