Lord Abbett & CO. LLC Makes New $29.46 Million Investment in Inari Medical, Inc. (NASDAQ:NARI)

Lord Abbett & CO. LLC purchased a new position in shares of Inari Medical, Inc. (NASDAQ:NARIGet Rating) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 325,030 shares of the company’s stock, valued at approximately $29,461,000. Lord Abbett & CO. LLC owned approximately 0.61% of Inari Medical as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in NARI. Trustcore Financial Services LLC lifted its stake in Inari Medical by 266.7% during the first quarter. Trustcore Financial Services LLC now owns 275 shares of the company’s stock worth $25,000 after purchasing an additional 200 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Inari Medical during the fourth quarter worth $49,000. DB Wealth Management Group LLC acquired a new position in Inari Medical during the first quarter worth $54,000. Advisor Group Holdings Inc. increased its position in shares of Inari Medical by 43.2% during the fourth quarter. Advisor Group Holdings Inc. now owns 1,683 shares of the company’s stock worth $153,000 after acquiring an additional 508 shares during the period. Finally, FourThought Financial LLC increased its position in shares of Inari Medical by 6.0% during the first quarter. FourThought Financial LLC now owns 2,299 shares of the company’s stock worth $208,000 after acquiring an additional 130 shares during the period. 84.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Inari Medical news, CEO William Hoffman sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $71.99, for a total transaction of $2,159,700.00. Following the transaction, the chief executive officer now owns 548,899 shares of the company’s stock, valued at $39,515,239.01. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Inari Medical news, COO Andrew Hykes sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $70.31, for a total transaction of $351,550.00. Following the transaction, the chief operating officer now owns 140,991 shares of the company’s stock, valued at $9,913,077.21. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William Hoffman sold 30,000 shares of the stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $71.99, for a total transaction of $2,159,700.00. Following the sale, the chief executive officer now owns 548,899 shares of the company’s stock, valued at approximately $39,515,239.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,012 shares of company stock valued at $8,021,140. 11.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on NARI. Piper Sandler began coverage on Inari Medical in a research report on Tuesday, June 21st. They set an “overweight” rating and a $100.00 price objective on the stock. BTIG Research cut their price objective on Inari Medical from $130.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, June 24th. Finally, Morgan Stanley cut their price objective on Inari Medical from $108.00 to $93.00 and set an “overweight” rating on the stock in a research report on Friday, July 15th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Inari Medical has an average rating of “Buy” and an average target price of $96.67.

Inari Medical Price Performance

NASDAQ:NARI opened at $75.21 on Friday. The firm has a market capitalization of $4.02 billion, a PE ratio of -259.34 and a beta of 1.49. The business’s fifty day moving average price is $74.91 and its 200 day moving average price is $76.02. Inari Medical, Inc. has a 12 month low of $50.50 and a 12 month high of $100.00.

Inari Medical (NASDAQ:NARIGet Rating) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.04. The firm had revenue of $92.74 million for the quarter, compared to analyst estimates of $88.04 million. Inari Medical had a negative return on equity of 4.60% and a negative net margin of 4.47%. As a group, equities analysts anticipate that Inari Medical, Inc. will post -0.66 EPS for the current year.

Inari Medical 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.

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Institutional Ownership by Quarter for Inari Medical (NASDAQ:NARI)

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