Commonwealth Equity Services LLC decreased its position in Inari Medical, Inc. (NASDAQ:NARI – Get Rating) by 6.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,623 shares of the company’s stock after selling 761 shares during the period. Commonwealth Equity Services LLC’s holdings in Inari Medical were worth $722,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NARI. State of Alaska Department of Revenue bought a new position in shares of Inari Medical in the 2nd quarter valued at about $332,000. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Inari Medical by 115.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 48,856 shares of the company’s stock valued at $4,428,000 after purchasing an additional 26,182 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Inari Medical by 18.5% in the 1st quarter. Bank of America Corp DE now owns 120,707 shares of the company’s stock valued at $10,941,000 after purchasing an additional 18,839 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of Inari Medical in the 1st quarter valued at about $7,124,000. Finally, Walleye Capital LLC bought a new position in shares of Inari Medical in the 1st quarter valued at about $459,000. 84.11% of the stock is currently owned by institutional investors and hedge funds.
Inari Medical Stock Up 0.2 %
NASDAQ NARI opened at $71.91 on Friday. Inari Medical, Inc. has a 12-month low of $50.50 and a 12-month high of $100.00. The company has a market capitalization of $3.84 billion, a PE ratio of -248.03 and a beta of 1.26. The firm’s 50 day moving average is $73.17 and its 200-day moving average is $73.06.
Inari Medical (NASDAQ:NARI – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04. Inari Medical had a negative net margin of 4.47% and a negative return on equity of 4.60%. The company had revenue of $92.74 million for the quarter, compared to the consensus estimate of $88.04 million. As a group, sell-side analysts expect that Inari Medical, Inc. will post -0.68 EPS for the current year.
Insider Buying and Selling
In related news, COO Andrew Hykes sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the transaction, the chief operating officer now directly owns 130,991 shares in the company, valued at $9,169,370. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, COO Andrew Hykes sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the transaction, the chief operating officer now directly owns 130,991 shares in the company, valued at $9,169,370. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Donald B. Milder sold 7,000 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $80.78, for a total transaction of $565,460.00. Following the transaction, the director now owns 3,206,614 shares in the company, valued at $259,030,278.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 170,942 shares of company stock worth $13,059,078. Insiders own 11.90% of the company’s stock.
Analyst Ratings Changes
Several research analysts recently weighed in on NARI shares. Truist Financial reduced their price objective on shares of Inari Medical from $87.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday. Jefferies Financial Group started coverage on shares of Inari Medical in a research note on Wednesday, October 12th. They set a “buy” rating and a $88.00 price objective on the stock. BTIG Research reduced their price objective on shares of Inari Medical from $100.00 to $97.00 and set a “buy” rating on the stock in a research note on Monday. Berenberg Bank started coverage on shares of Inari Medical in a research note on Thursday, September 29th. They set a “buy” rating and a $85.00 price objective on the stock. Finally, Canaccord Genuity Group lifted their price objective on shares of Inari Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, September 16th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.78.
Inari Medical Company Profile
Inari Medical, Inc, a medical device company, develops, manufactures, markets, and sells devices for the interventional treatment of venous diseases in the United States. The company provides ClotTriever, a mechanical thrombectomy system, which is designed to core, capture, and remove large clots from large vessels, as well as for treatment of deep vein thrombosis; and FlowTriever, a large bore catheter-based aspiration and mechanical thrombectomy system, for treatment of pulmonary embolism.
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