Inari Medical, Inc. (NASDAQ:NARI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in shares of Inari Medical, Inc. (NASDAQ:NARI - Free Report) by 19.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 609,194 shares of the company's stock after selling 144,774 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.06% of Inari Medical worth $39,549,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NARI. Bank of New York Mellon Corp lifted its position in shares of Inari Medical by 12.4% during the first quarter. Bank of New York Mellon Corp now owns 153,944 shares of the company's stock worth $13,954,000 after acquiring an additional 16,986 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Inari Medical by 54.1% in the 1st quarter. MetLife Investment Management LLC now owns 18,821 shares of the company's stock worth $1,706,000 after purchasing an additional 6,604 shares during the period. Rhumbline Advisers boosted its stake in Inari Medical by 2.9% in the 1st quarter. Rhumbline Advisers now owns 35,997 shares of the company's stock worth $3,263,000 after purchasing an additional 1,005 shares during the period. Dimensional Fund Advisors LP grew its holdings in Inari Medical by 30.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 290,206 shares of the company's stock valued at $26,304,000 after buying an additional 67,988 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Inari Medical by 200.7% during the first quarter. Canada Pension Plan Investment Board now owns 2,189 shares of the company's stock valued at $198,000 after buying an additional 1,461 shares during the period. Hedge funds and other institutional investors own 90.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NARI shares. Truist Financial reduced their price objective on shares of Inari Medical from $61.00 to $52.00 and set a "hold" rating for the company in a research note on Friday, March 22nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 price target on shares of Inari Medical in a report on Wednesday, March 6th. Piper Sandler cut shares of Inari Medical from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $85.00 to $55.00 in a research report on Thursday, February 29th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $75.00 target price on shares of Inari Medical in a research note on Friday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Inari Medical currently has an average rating of "Moderate Buy" and a consensus target price of $73.71.

Insider Buying and Selling

In related news, Director William Hoffman sold 40,000 shares of the firm's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $41.13, for a total transaction of $1,645,200.00. Following the completion of the transaction, the director now owns 1,003,296 shares of the company's stock, valued at approximately $41,265,564.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 10.60% of the stock is owned by company insiders.

Inari Medical Stock Down 1.8 %

Shares of NARI traded down $0.74 during trading hours on Friday, reaching $40.78. 588,663 shares of the company traded hands, compared to its average volume of 1,141,952. Inari Medical, Inc. has a 12 month low of $39.90 and a 12 month high of $71.85. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of -1,359.33 and a beta of 0.84. The company's fifty day moving average price is $48.73 and its two-hundred day moving average price is $56.26.

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

Inari Medical Profile

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.