Pacer Advisors Inc. increased its stake in Inari Medical, Inc. (NASDAQ:NARI – Get Rating) by 90.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,246 shares of the company’s stock after acquiring an additional 4,390 shares during the quarter. Pacer Advisors Inc.’s holdings in Inari Medical were worth $588,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in shares of Inari Medical by 46.8% during the first quarter. Wellington Management Group LLP now owns 4,626,607 shares of the company’s stock worth $419,355,000 after buying an additional 1,475,313 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Inari Medical by 18.8% during the third quarter. BlackRock Inc. now owns 5,415,796 shares of the company’s stock worth $393,404,000 after buying an additional 858,266 shares in the last quarter. State Street Corp grew its holdings in shares of Inari Medical by 78.6% during the second quarter. State Street Corp now owns 1,302,857 shares of the company’s stock worth $88,581,000 after buying an additional 573,227 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Inari Medical by 13.4% during the first quarter. Vanguard Group Inc. now owns 3,518,646 shares of the company’s stock worth $318,930,000 after buying an additional 416,425 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Inari Medical by 22.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,966,302 shares of the company’s stock worth $133,689,000 after buying an additional 356,309 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.
Inari Medical Price Performance
NASDAQ NARI opened at $62.93 on Thursday. The firm’s 50-day moving average is $62.11 and its two-hundred day moving average is $65.54. Inari Medical, Inc. has a 12 month low of $50.50 and a 12 month high of $86.94. The stock has a market capitalization of $3.42 billion, a P/E ratio of -114.42 and a beta of 1.11.
Insider Buying and Selling at Inari Medical
In other news, Director William Hoffman sold 25,000 shares of the stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $64.67, for a total transaction of $1,616,750.00. Following the sale, the director now owns 1,227,540 shares of the company’s stock, valued at $79,385,011.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director William Hoffman sold 25,000 shares of the stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $64.67, for a total transaction of $1,616,750.00. Following the sale, the director now owns 1,227,540 shares of the company’s stock, valued at $79,385,011.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Hykes sold 9,000 shares of the stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $64.29, for a total transaction of $578,610.00. Following the sale, the chief executive officer now directly owns 552,283 shares in the company, valued at approximately $35,506,274.07. The disclosure for this sale can be found here. Insiders have sold 87,250 shares of company stock valued at $5,316,240 over the last 90 days. 11.90% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on NARI. Morgan Stanley dropped their target price on shares of Inari Medical from $95.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, January 6th. Canaccord Genuity Group upped their price objective on shares of Inari Medical from $77.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, February 28th. Finally, Truist Financial upped their price objective on shares of Inari Medical from $68.00 to $70.00 in a report on Tuesday, April 18th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.11.
About Inari Medical
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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