First Trust Advisors LP Grows Stake in Inari Medical, Inc. (NASDAQ:NARI)

First Trust Advisors LP raised its stake in shares of Inari Medical, Inc. (NASDAQ:NARI) by 104.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,215 shares of the company’s stock after purchasing an additional 20,516 shares during the period. First Trust Advisors LP owned 0.07% of Inari Medical worth $2,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC raised its holdings in Inari Medical by 128.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 634 shares of the company’s stock valued at $33,000 after buying an additional 356 shares during the period. R Squared Ltd purchased a new stake in shares of Inari Medical in the fourth quarter valued at $45,000. Quadrant Capital Group LLC lifted its holdings in shares of Inari Medical by 12.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,301 shares of the company’s stock worth $66,000 after acquiring an additional 143 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Inari Medical by 66.8% during the 4th quarter. GAMMA Investing LLC now owns 1,963 shares of the company’s stock worth $100,000 after purchasing an additional 786 shares during the period. Finally, KBC Group NV grew its holdings in Inari Medical by 31.5% during the 4th quarter. KBC Group NV now owns 2,333 shares of the company’s stock valued at $119,000 after purchasing an additional 559 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Inari Medical Stock Performance

Shares of Inari Medical stock opened at $79.97 on Tuesday. The firm has a 50-day simple moving average of $79.97 and a two-hundred day simple moving average of $68.68. Inari Medical, Inc. has a fifty-two week low of $39.76 and a fifty-two week high of $79.99. The company has a market cap of $4.68 billion, a P/E ratio of -59.24 and a beta of 1.02.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Baird R W cut Inari Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. William Blair reaffirmed a “market perform” rating on shares of Inari Medical in a research report on Tuesday, January 7th. Piper Sandler boosted their price target on Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. BTIG Research restated a “neutral” rating on shares of Inari Medical in a report on Wednesday, January 8th. Finally, Canaccord Genuity Group restated a “hold” rating and issued a $80.00 price target (up previously from $74.00) on shares of Inari Medical in a report on Tuesday, January 7th. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Inari Medical presently has a consensus rating of “Hold” and an average price target of $69.22.

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.