Vanguard Group Inc. Sells 36,096 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Vanguard Group Inc. cut its position in shares of Inari Medical, Inc. (NASDAQ:NARI - Free Report) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,712,706 shares of the company's stock after selling 36,096 shares during the quarter. Vanguard Group Inc. owned 8.18% of Inari Medical worth $308,211,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Parkside Financial Bank & Trust acquired a new position in shares of Inari Medical in the first quarter worth $25,000. Quarry LP acquired a new position in shares of Inari Medical in the second quarter worth $27,000. Fifth Third Bancorp raised its holdings in shares of Inari Medical by 54.3% in the third quarter. Fifth Third Bancorp now owns 486 shares of the company's stock worth $32,000 after acquiring an additional 171 shares during the last quarter. Pinebridge Investments L.P. acquired a new position in shares of Inari Medical in the second quarter worth $31,000. Finally, FMR LLC raised its holdings in shares of Inari Medical by 42.6% in the second quarter. FMR LLC now owns 824 shares of the company's stock worth $56,000 after acquiring an additional 246 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Inari Medical

In other news, Director William Hoffman sold 40,000 shares of the company's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $41.13, for a total value of $1,645,200.00. Following the completion of the sale, the director now owns 1,003,296 shares of the company's stock, valued at $41,265,564.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 10.60% of the company's stock.

Inari Medical Price Performance

NARI stock traded up $0.58 during trading on Thursday, reaching $47.98. 10,138,168 shares of the stock traded hands, compared to its average volume of 1,162,612. The business's 50 day moving average price is $51.68 and its 200-day moving average price is $58.00. Inari Medical, Inc. has a 52-week low of $39.90 and a 52-week high of $71.85. The firm has a market capitalization of $2.78 billion, a PE ratio of -1,599.33 and a beta of 0.84.

Inari Medical (NASDAQ:NARI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.09). Inari Medical had a negative net margin of 0.33% and a positive return on equity of 1.23%. The firm had revenue of $132.10 million for the quarter, compared to analysts' expectations of $131.82 million. During the same period last year, the firm posted ($0.11) EPS. Inari Medical's revenue was up 22.5% on a year-over-year basis. On average, equities research analysts predict that Inari Medical, Inc. will post -0.39 earnings per share for the current year.

Analysts Set New Price Targets

NARI has been the subject of a number of analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $72.00 price target on shares of Inari Medical in a report on Wednesday, March 6th. Canaccord Genuity Group lowered their price objective on Inari Medical from $79.00 to $75.00 and set a "buy" rating for the company in a research report on Thursday, February 29th. Truist Financial lowered their price objective on Inari Medical from $61.00 to $52.00 and set a "hold" rating for the company in a research report on Friday, March 22nd. Finally, Piper Sandler downgraded Inari Medical from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $85.00 to $55.00 in a research report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $73.71.

About Inari Medical

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.