Inari Medical, Inc. (NASDAQ:NARI) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lessened its holdings in shares of Inari Medical, Inc. (NASDAQ:NARI - Free Report) by 41.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,775 shares of the company's stock after selling 43,329 shares during the quarter. Essex Investment Management Co. LLC owned 0.11% of Inari Medical worth $3,946,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its position in shares of Inari Medical by 5.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 753,968 shares of the company's stock worth $49,310,000 after acquiring an additional 40,069 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Inari Medical by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company's stock worth $38,693,000 after acquiring an additional 41,555 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Inari Medical by 23.4% in the 4th quarter. Principal Financial Group Inc. now owns 567,266 shares of the company's stock worth $36,827,000 after acquiring an additional 107,622 shares in the last quarter. Fiera Capital Corp grew its position in shares of Inari Medical by 63.4% in the 3rd quarter. Fiera Capital Corp now owns 560,756 shares of the company's stock worth $36,673,000 after acquiring an additional 217,606 shares in the last quarter. Finally, Bamco Inc. NY grew its position in shares of Inari Medical by 18.2% in the 3rd quarter. Bamco Inc. NY now owns 557,937 shares of the company's stock worth $36,489,000 after acquiring an additional 86,000 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NARI shares. Piper Sandler decreased their target price on Inari Medical from $55.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, May 1st. Truist Financial reduced 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. Canaccord Genuity Group reduced their price objective on Inari Medical from $75.00 to $55.00 and set a "buy" rating for the company in a research report on Wednesday, May 1st. Wells Fargo & Company reduced their price objective on Inari Medical from $100.00 to $84.00 and set an "overweight" rating for the company in a research report on Wednesday, May 1st. Finally, Needham & Company LLC reduced their price objective on Inari Medical from $72.00 to $57.00 and set a "buy" rating for the company in a research report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $65.71.

Inari Medical Stock Up 3.0 %

Inari Medical stock traded up $1.26 during mid-day trading on Friday, hitting $43.75. 1,006,500 shares of the company's stock traded hands, compared to its average volume of 1,234,722. The firm has a 50 day moving average price of $42.08 and a 200 day moving average price of $53.13. The company has a market cap of $2.54 billion, a PE ratio of -106.71 and a beta of 0.93. Inari Medical, Inc. has a one year low of $36.73 and a one year high of $71.85.

Inari Medical (NASDAQ:NARI - Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.09). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. The business had revenue of $132.10 million for the quarter, compared to the consensus estimate of $131.82 million. During the same period in the previous year, the firm earned ($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 -0.41 earnings per share for the current fiscal year.

Insider Transactions at Inari Medical

In other news, Director William Hoffman sold 40,000 shares of the business's stock in a transaction on 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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Mitch C. Hill sold 6,000 shares of the business's stock in a transaction 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 sale, the chief financial officer now directly owns 181,294 shares of the company's stock, valued at $7,425,802.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Hoffman sold 40,000 shares of the business's stock in a transaction on 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 sale, the director now directly owns 1,003,296 shares in the company, valued at $41,265,564.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,000 shares of company stock valued at $3,568,058. Corporate insiders own 10.60% of the company's stock.

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.

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