Cwm LLC Cuts Stock Position in Inari Medical, Inc. (NASDAQ:NARI)

Cwm LLC lowered its position in Inari Medical, Inc. (NASDAQ:NARI) by 10.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 44,749 shares of the company’s stock after selling 5,172 shares during the quarter. Cwm LLC’s holdings in Inari Medical were worth $2,905,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp grew its position in shares of Inari Medical by 54.3% in the 3rd quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock worth $32,000 after buying an additional 171 shares during the last quarter. New York State Teachers Retirement System grew its position in Inari Medical by 0.4% during the 4th quarter. New York State Teachers Retirement System now owns 53,924 shares of the company’s stock worth $3,501,000 after purchasing an additional 233 shares during the last quarter. Teacher Retirement System of Texas grew its position in Inari Medical by 11.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 3,987 shares of the company’s stock worth $261,000 after purchasing an additional 417 shares during the last quarter. IFP Advisors Inc grew its position in Inari Medical by 35.7% during the 3rd quarter. IFP Advisors Inc now owns 1,939 shares of the company’s stock worth $127,000 after purchasing an additional 510 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in Inari Medical by 3.8% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 15,276 shares of the company’s stock worth $999,000 after purchasing an additional 560 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Inari Medical Stock Performance

Shares of NASDAQ NARI opened at $38.18 on Thursday. Inari Medical, Inc. has a 12 month low of $36.73 and a 12 month high of $71.85. The company has a 50 day simple moving average of $46.08 and a two-hundred day simple moving average of $54.77.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate 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 business had revenue of $132.10 million for the quarter, compared to analyst estimates of $131.82 million. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. The business’s revenue was up 22.5% on a year-over-year basis. Equities research analysts forecast that Inari Medical, Inc. will post -0.39 earnings per share for the current year.

Insider Buying and Selling at Inari Medical

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Piper Sandler downgraded shares of Inari Medical from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $55.00 in a research report on Thursday, February 29th. Truist Financial dropped their target price on shares of Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd. Canaccord Genuity Group reissued a “buy” rating and set a $75.00 target price on shares of Inari Medical in a research report on Friday, April 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $72.00 target price on shares of Inari Medical in a research report on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.71.

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.