Jennison Associates LLC Grows Position in Inari Medical, Inc. (NASDAQ:NARI)

Jennison Associates LLC grew its holdings in Inari Medical, Inc. (NASDAQ:NARI - Free Report) by 8.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 443,509 shares of the company's stock after acquiring an additional 33,419 shares during the period. Jennison Associates LLC owned about 0.77% of Inari Medical worth $28,793,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Handelsbanken Fonder AB lifted its holdings in shares of Inari Medical by 30.7% in the 4th quarter. Handelsbanken Fonder AB now owns 9,800 shares of the company's stock valued at $636,000 after buying an additional 2,300 shares during the period. Knights of Columbus Asset Advisors LLC boosted its position in Inari Medical by 99.7% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 45,621 shares of the company's stock worth $2,962,000 after purchasing an additional 22,780 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Inari Medical by 25.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,326 shares of the company's stock worth $930,000 after purchasing an additional 2,929 shares during the period. Strs Ohio lifted its stake in shares of Inari Medical by 27.1% in the 4th quarter. Strs Ohio now owns 6,100 shares of the company's stock valued at $396,000 after purchasing an additional 1,300 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new stake in Inari Medical during the fourth quarter worth $935,000. Institutional investors and hedge funds own 90.98% of the company's stock.

Insider Buying and Selling

In other news, Director William Hoffman sold 1,451 shares of Inari Medical stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $40.00, for a total transaction of $58,040.00. Following the completion of the sale, the director now directly owns 999,782 shares in the company, valued at approximately $39,991,280. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director William Hoffman sold 1,451 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.00, for a total value of $58,040.00. Following the sale, the director now directly owns 999,782 shares of the company's stock, valued at approximately $39,991,280. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Mitch C. Hill sold 6,000 shares of the firm's stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $40.96, for a total transaction of $245,760.00. Following the transaction, the chief financial officer now directly owns 181,294 shares of the company's stock, valued at $7,425,802.24. The disclosure for this sale can be found here. Insiders sold 47,451 shares of company stock valued at $1,949,000 over the last ninety days. Corporate insiders own 10.60% of the company's stock.

Analyst Ratings Changes

NARI has been the subject of a number of research analyst reports. Needham & Company LLC restated a "buy" rating and set a $72.00 price objective on shares of Inari Medical in a research report on Wednesday, March 6th. Truist Financial reduced their price target on shares of Inari Medical from $61.00 to $52.00 and set a "hold" rating for the company in a research report on Friday, March 22nd. Canaccord Genuity Group reiterated a "buy" rating and set a $75.00 price objective on shares of Inari Medical in a research note on Friday, April 12th. Finally, Piper Sandler downgraded Inari Medical from an "overweight" rating to a "neutral" rating and decreased their target price 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $73.71.

Inari Medical Stock Performance

Shares of NASDAQ:NARI traded down $0.11 during trading hours on Thursday, reaching $38.07. The stock had a trading volume of 873,494 shares, compared to its average volume of 1,131,862. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $71.85. The firm's 50 day moving average is $45.68 and its 200-day moving average is $54.65. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -1,269.00 and a beta of 0.84.

Inari Medical (NASDAQ:NARI - Get Free Report) last released its quarterly earnings data 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 company had revenue of $132.10 million for the quarter, compared to analyst estimates of $131.82 million. During the same period in the previous year, the business posted ($0.11) EPS. The firm's revenue for the quarter was up 22.5% compared to the same quarter last year. Analysts forecast that Inari Medical, Inc. will post -0.39 EPS for the current year.

Inari Medical Company 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.