Inari Medical, Inc. (NASDAQ:NARI) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its stake in shares of Inari Medical, Inc. (NASDAQ:NARI) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,184 shares of the company’s stock after selling 4,903 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.07% of Inari Medical worth $2,102,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Values First Advisors Inc. acquired a new stake in Inari Medical in the 3rd quarter valued at approximately $128,000. Asset Management One Co. Ltd. increased its position in Inari Medical by 1.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 61,354 shares of the company’s stock valued at $2,530,000 after acquiring an additional 962 shares during the period. Financial Enhancement Group LLC acquired a new stake in Inari Medical in the 3rd quarter valued at approximately $1,155,000. Assetmark Inc. increased its position in Inari Medical by 5.9% in the 3rd quarter. Assetmark Inc. now owns 19,382 shares of the company’s stock valued at $799,000 after acquiring an additional 1,076 shares during the period. Finally, Covestor Ltd increased its position in Inari Medical by 63.5% in the 3rd quarter. Covestor Ltd now owns 2,384 shares of the company’s stock valued at $99,000 after acquiring an additional 926 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on NARI. BTIG Research restated a “neutral” rating on shares of Inari Medical in a research report on Wednesday, January 8th. Truist Financial raised their target price on Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Wells Fargo & Company restated an “equal weight” rating and issued a $80.00 target price (up from $65.00) on shares of Inari Medical in a research report on Tuesday, January 7th. William Blair reiterated a “market perform” rating on shares of Inari Medical in a research report on Tuesday, January 7th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $80.00 price target (up from $74.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Inari Medical presently has an average rating of “Hold” and a consensus target price of $68.00.

Inari Medical Stock Up 0.1 %

NARI opened at $79.97 on Friday. The firm has a market cap of $4.68 billion, a PE ratio of -59.24 and a beta of 1.02. The business has a fifty day simple moving average of $71.49 and a 200-day simple moving average of $55.47. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $79.99.

Insider Transactions at Inari Medical

In other news, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $55.29, for a total transaction of $165,870.00. Following the completion of the sale, the chief executive officer now directly owns 439,310 shares of the company’s stock, valued at $24,289,449.90. This trade represents a 0.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William Hoffman sold 200,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $60.47, for a total value of $12,094,000.00. Following the sale, the director now directly owns 238,987 shares of the company’s stock, valued at approximately $14,451,543.89. This represents a 45.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,000 shares of company stock valued at $15,599,470 in the last three months. 10.60% of the stock is currently owned by corporate insiders.

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.