Thrivent Financial for Lutherans Sells 1,511 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Thrivent Financial for Lutherans lowered its position in Inari Medical, Inc. (NASDAQ:NARI) by 3.4% during the 2nd quarter, Holdings Channel reports. The firm owned 42,954 shares of the company’s stock after selling 1,511 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Inari Medical were worth $2,068,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of 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 in the last quarter. First Light Asset Management LLC bought a new position in Inari Medical during the 1st quarter worth about $10,265,000. American Century Companies Inc. increased its position in Inari Medical by 26.8% during the 2nd 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 period. Peregrine Capital Management LLC bought a new stake in shares of Inari Medical in the 2nd quarter valued at about $8,664,000. Finally, Bamco Inc. NY boosted its stake in shares of Inari Medical by 27.4% during the first quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock valued at $37,288,000 after purchasing an additional 167,000 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Inari Medical

In related news, Director William Hoffman sold 40,000 shares of the stock in a transaction that occurred 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 owns 643,296 shares of the company’s stock, valued at $29,482,255.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Thomas Tu sold 16,520 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $17,257,328.13. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William Hoffman sold 40,000 shares of the firm’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 owns 643,296 shares of the company’s stock, valued at $29,482,255.68. The disclosure for this sale can be found here. Insiders sold 132,520 shares of company stock valued at $6,958,467 over the last 90 days. 10.60% of the stock is currently owned by corporate insiders.

Inari Medical Stock Performance

NASDAQ:NARI opened at $40.63 on Wednesday. The company has a fifty day moving average of $46.32 and a two-hundred day moving average of $46.12. 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 $2.36 billion, a PE ratio of -99.10 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last issued 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 during the quarter, compared to analyst estimates of $143.96 million. Research analysts forecast that Inari Medical, Inc. will post -0.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Truist Financial reissued a “hold” rating and set a $55.00 price target (down from $60.00) on shares of Inari Medical in a research report on Wednesday, July 31st. Stifel Nicolaus began coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective for the company. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research report on Wednesday, July 31st. Piper Sandler reissued a “neutral” rating and set a $50.00 price target on shares of Inari Medical in a research report on Monday, August 26th. Finally, Leerink Partners initiated coverage on Inari Medical in a research report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $58.44.

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.