The Manufacturers Life Insurance Company Acquires 364,983 Shares of Inari Medical, Inc. (NASDAQ:NARI)

The Manufacturers Life Insurance Company increased its holdings in Inari Medical, Inc. (NASDAQ:NARI) by 1,219.9% in the 2nd quarter, Holdings Channel reports. The fund owned 394,901 shares of the company’s stock after buying an additional 364,983 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Inari Medical were worth $19,014,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NARI. NEOS Investment Management LLC bought a new stake in Inari Medical during the 4th quarter valued at about $396,000. Point72 Europe London LLP increased its stake in Inari Medical by 91.8% during the 4th quarter. Point72 Europe London LLP now owns 332,202 shares of the company’s stock valued at $21,567,000 after purchasing an additional 158,997 shares in the last quarter. Clear Street Markets LLC bought a new stake in Inari Medical during the 4th quarter valued at about $198,000. Vanguard Group Inc. increased its stake in Inari Medical by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 5,038,292 shares of the company’s stock valued at $327,086,000 after purchasing an additional 325,586 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Inari Medical by 462.4% during the 1st quarter. State of Alaska Department of Revenue now owns 31,095 shares of the company’s stock valued at $1,491,000 after purchasing an additional 25,566 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Inari Medical news, insider Thomas Tu sold 16,520 shares of Inari Medical 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 of the company’s stock, valued at $17,257,328.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Inari Medical news, Director William Hoffman sold 60,000 shares of Inari Medical stock in a transaction that occurred on 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 transaction, the director now 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 is available through the SEC website. Also, insider Thomas Tu sold 16,520 shares of Inari Medical 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 directly owns 313,257 shares in the company, valued at approximately $17,257,328.13. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 132,520 shares of company stock valued at $6,958,467. 10.60% of the stock is owned by insiders.

Inari Medical Trading Down 1.5 %

NARI opened at $40.63 on Wednesday. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -99.10 and a beta of 1.00. The company’s 50 day moving average is $46.32 and its 200 day moving average is $46.12. Inari Medical, Inc. has a 12-month low of $36.73 and a 12-month high of $69.40.

Inari Medical (NASDAQ:NARI) last posted 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 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 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on NARI shares. Robert W. Baird reduced their price objective on shares of Inari Medical from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Piper Sandler reiterated a “neutral” rating and issued a $50.00 price target on shares of Inari Medical in a research note on Monday, August 26th. Leerink Partners began coverage on shares of Inari Medical in a research note on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 price target for the company. Wells Fargo & Company reduced their price target on shares of Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus began coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price target for the company. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Inari Medical has a consensus rating of “Hold” and a consensus 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.