Vanguard Group Inc. Raises Stock Position in Inari Medical, Inc. (NASDAQ:NARI)

Vanguard Group Inc. increased its holdings in Inari Medical, Inc. (NASDAQ:NARI) by 0.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,628,875 shares of the company’s stock after acquiring an additional 30,702 shares during the period. Vanguard Group Inc. owned approximately 0.10% of Inari Medical worth $287,354,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Smartleaf Asset Management LLC boosted its position in shares of Inari Medical by 128.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 634 shares of the company’s stock worth $33,000 after buying an additional 356 shares during the period. R Squared Ltd acquired a new position in Inari Medical during the 4th quarter worth about $45,000. GAMMA Investing LLC boosted its holdings in Inari Medical by 66.8% during the 4th quarter. GAMMA Investing LLC now owns 1,963 shares of the company’s stock valued at $100,000 after acquiring an additional 786 shares during the period. KBC Group NV increased its stake in Inari Medical by 31.5% during the fourth quarter. KBC Group NV now owns 2,333 shares of the company’s stock worth $119,000 after purchasing an additional 559 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Inari Medical by 44.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,113 shares of the company’s stock worth $128,000 after purchasing an additional 954 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NARI. William Blair reiterated a “market perform” rating on shares of Inari Medical in a report on Tuesday, January 7th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $80.00 target price (up from $65.00) on shares of Inari Medical in a report on Tuesday, January 7th. Robert W. Baird restated a “neutral” rating and set a $80.00 price target (down previously from $81.00) on shares of Inari Medical in a report on Tuesday, January 7th. Truist Financial lifted their price objective on Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Finally, BTIG Research restated a “neutral” rating on shares of Inari Medical in a research note on Wednesday, January 8th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Inari Medical presently has an average rating of “Hold” and an average target price of $68.00.

Insider Buying and Selling

In related news, Director William Hoffman sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $60.47, for a total transaction of $12,094,000.00. Following the transaction, the director now owns 238,987 shares in the company, valued at $14,451,543.89. This trade represents a 45.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 10.60% of the stock is owned by company insiders.

Inari Medical Stock Performance

Shares of NASDAQ:NARI opened at $79.97 on Friday. The firm has a 50 day simple moving average of $79.91 and a 200-day simple moving average of $62.51. Inari Medical, Inc. has a twelve month low of $36.73 and a twelve month high of $79.99. The company has a market capitalization of $4.68 billion, a PE ratio of -59.24 and a beta of 1.02.

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.