BlackRock Inc. Grows Stake in Inari Medical, Inc. (NASDAQ:NARI)

Posted by Defense World Staff on Mar 10th, 2023

BlackRock Inc. lifted its position in Inari Medical, Inc. (NASDAQ:NARI – Get Rating) by 18.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,415,796 shares of the company’s stock after buying an additional 858,266 shares during the period. BlackRock Inc. owned approximately 10.09% of Inari Medical worth $393,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of NARI. Parkside Financial Bank & Trust purchased a new position in shares of Inari Medical in the 1st quarter worth $25,000. Canada Pension Plan Investment Board boosted its stake in shares of Inari Medical by 40.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 689 shares of the company’s stock worth $50,000 after buying an additional 200 shares during the last quarter. FMR LLC boosted its stake in shares of Inari Medical by 42.6% in the 2nd quarter. FMR LLC now owns 824 shares of the company’s stock worth $56,000 after buying an additional 246 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Inari Medical by 38.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,388 shares of the company’s stock worth $106,000 after buying an additional 388 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in shares of Inari Medical by 69.1% in the 3rd quarter. Assetmark Inc. now owns 1,828 shares of the company’s stock worth $133,000 after buying an additional 747 shares during the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO William Hoffman sold 55,000 shares of the business’s stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $66.61, for a total value of $3,663,550.00. Following the transaction, the chief executive officer now directly owns 237,481 shares in the company, valued at $15,818,609.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO William Hoffman sold 55,000 shares of Inari Medical stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $66.61, for a total value of $3,663,550.00. Following the sale, the chief executive officer now directly owns 237,481 shares of the company’s stock, valued at $15,818,609.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mitch C. Hill sold 12,750 shares of Inari Medical stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $69.58, for a total value of $887,145.00. Following the completion of the sale, the chief financial officer now directly owns 59,486 shares in the company, valued at $4,139,035.88. The disclosure for this sale can be found here. Insiders have sold 196,250 shares of company stock worth $12,739,010 over the last ninety days. Corporate insiders own 11.90% of the company’s stock.

Inari Medical Stock Up 7.0 %

Shares of Inari Medical stock opened at $57.85 on Friday. The stock’s 50-day simple moving average is $59.59 and its 200-day simple moving average is $67.85. Inari Medical, Inc. has a 52 week low of $50.50 and a 52 week high of $95.39. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of -105.18 and a beta of 1.10.

Inari Medical (NASDAQ:NARI – Get Rating) last announced its quarterly earnings data on Monday, February 27th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.06. Inari Medical had a negative return on equity of 7.03% and a negative net margin of 7.63%. The business had revenue of $107.77 million for the quarter, compared to the consensus estimate of $104.85 million. During the same period in the previous year, the business earned $0.02 earnings per share. The business’s revenue was up 29.5% on a year-over-year basis. On average, equities analysts expect that Inari Medical, Inc. will post -0.48 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on NARI. Truist Financial lowered their target price on Inari Medical from $75.00 to $65.00 and set a “hold” rating on the stock in a research report on Tuesday, January 31st. Morgan Stanley lowered their target price on Inari Medical from $95.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, January 6th. Finally, Canaccord Genuity Group lifted their target price on Inari Medical from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, February 28th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.56.

About Inari Medical

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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.

BlackRock Inc. Grows Stake in Inari Medical, Inc. (NASDAQ:NARI)

Insider Activity

Inari Medical Stock Up 7.0 %

Analyst Ratings Changes

About Inari Medical

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