MetLife Investment Management LLC Sells 1,301 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Posted by Defense World Staff on Jun 18th, 2023

MetLife Investment Management LLC reduced its stake in Inari Medical, Inc. (NASDAQ:NARI – Get Rating) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,528 shares of the company’s stock after selling 1,301 shares during the period. MetLife Investment Management LLC owned 0.10% of Inari Medical worth $3,466,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Inari Medical by 18.8% during the 3rd quarter. BlackRock Inc. now owns 5,415,796 shares of the company’s stock valued at $393,404,000 after purchasing an additional 858,266 shares in the last quarter. Wellington Management Group LLP increased its position 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 acquiring an additional 1,475,313 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Inari Medical by 6.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,243,238 shares of the company’s stock worth $308,229,000 after acquiring an additional 242,983 shares during the last quarter. Capital International Investors lifted its position in Inari Medical by 0.8% in the 1st quarter. Capital International Investors now owns 2,838,045 shares of the company’s stock valued at $257,240,000 after acquiring an additional 22,159 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Inari Medical by 5.2% during the 4th quarter. Franklin Resources Inc. now owns 2,386,598 shares of the company’s stock valued at $151,692,000 after purchasing an additional 117,622 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Canaccord Genuity Group increased their price objective on Inari Medical from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, February 28th. Truist Financial raised their price objective on Inari Medical from $68.00 to $70.00 in a research note on Tuesday, April 18th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.11.

Insider Buying and Selling

In other Inari Medical news, Director William Hoffman sold 25,000 shares of the stock in a transaction on Monday, April 17th. The stock was sold at an average price of $64.67, for a total transaction of $1,616,750.00. Following the completion of the transaction, the director now directly 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 SEC, which is available through the SEC website. In related news, CFO Mitch C. Hill sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $59.24, for a total transaction of $385,060.00. Following the sale, the chief financial officer now directly owns 173,054 shares in the company, valued at approximately $10,251,718.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Hoffman sold 25,000 shares of Inari Medical stock in a transaction that occurred on 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 completion of the transaction, the director now owns 1,227,540 shares of the company’s stock, valued at $79,385,011.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 187,983 shares of company stock valued at $12,532,986. 11.90% of the stock is owned by company insiders.

Inari Medical Stock Performance

Shares of NASDAQ:NARI opened at $58.34 on Friday. Inari Medical, Inc. has a 1 year low of $52.59 and a 1 year high of $86.94. The business has a fifty day moving average price of $63.92 and a two-hundred day moving average price of $62.86.

Inari Medical (NASDAQ:NARI – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.19. The company had revenue of $116.17 million during the quarter, compared to analyst estimates of $110.30 million. Inari Medical had a negative net margin of 6.87% and a negative return on equity of 6.78%. The firm’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.06) earnings per share. As a group, sell-side analysts anticipate that Inari Medical, Inc. will post -0.27 EPS for the current fiscal year.

Inari Medical Company Profile

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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.