Louisiana State Employees Retirement System Makes New $935,000 Investment in Inari Medical, Inc. (NASDAQ:NARI)

Louisiana State Employees Retirement System purchased a new position in shares of Inari Medical, Inc. (NASDAQ:NARI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 14,400 shares of the company’s stock, valued at approximately $935,000.

Several other hedge funds have also recently added to or reduced their stakes in NARI. Fifth Third Bancorp raised its holdings in Inari Medical by 54.3% during the 3rd quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock worth $32,000 after purchasing an additional 171 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Inari Medical by 139.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,189 shares of the company’s stock worth $78,000 after purchasing an additional 693 shares during the last quarter. IFP Advisors Inc raised its holdings 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. Handelsinvest Investeringsforvaltning bought a new position in Inari Medical during the 4th quarter worth approximately $185,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Inari Medical during the 3rd quarter worth approximately $204,000. Institutional investors own 90.98% of the company’s stock.

Inari Medical Trading Down 0.3 %

Inari Medical stock opened at $38.07 on Friday. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -1,269.00 and a beta of 0.84. The firm’s fifty day moving average price is $45.68 and its two-hundred day moving average price is $54.65. Inari Medical, Inc. has a 1-year low of $36.73 and a 1-year high of $71.85.

Inari Medical (NASDAQ:NARI) 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 business had revenue of $132.10 million during the quarter, compared to analyst estimates of $131.82 million. During the same quarter in the prior year, the company earned ($0.11) EPS. The company’s revenue was up 22.5% on a year-over-year basis. On average, research analysts forecast that Inari Medical, Inc. will post -0.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NARI shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $75.00 price objective on shares of Inari Medical in a research note on Friday, April 12th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of Inari Medical in a research note on Wednesday, March 6th. Truist Financial lowered 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. Finally, Piper Sandler lowered shares of Inari Medical from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $55.00 in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.71.

Insider Activity at Inari Medical

In related news, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $41.13, for a total value of $1,645,200.00. Following the transaction, the director now owns 1,003,296 shares of the company’s stock, valued at approximately $41,265,564.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $41.13, for a total value of $1,645,200.00. Following the transaction, the director now owns 1,003,296 shares of the company’s stock, valued at approximately $41,265,564.48. The sale was disclosed in a legal 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 dated Friday, April 12th. The shares were sold at an average price of $40.96, for a total transaction 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 47,451 shares of company stock valued at $1,949,000. 10.60% of the stock is owned by corporate insiders.

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.