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 holdings in Inari Medical, Inc. (NASDAQ:NARIGet Rating) by 15.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,059 shares of the company’s stock after selling 5,954 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Inari Medical were worth $2,401,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust acquired a new stake in shares of Inari Medical in the first quarter valued at approximately $25,000. Fifth Third Bancorp acquired a new stake in shares of Inari Medical in the second quarter valued at approximately $27,000. FMR LLC boosted its holdings in shares of Inari Medical by 42.6% in the second quarter. FMR LLC now owns 824 shares of the company’s stock valued at $56,000 after acquiring an additional 246 shares during the period. Assetmark Inc. boosted its holdings in shares of Inari Medical by 365.9% in the second quarter. Assetmark Inc. now owns 1,081 shares of the company’s stock valued at $73,000 after acquiring an additional 849 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Inari Medical in the first quarter valued at approximately $145,000. 85.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Inari Medical news, insider Thomas Tu sold 10,000 shares of the stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $75.02, for a total value of $750,200.00. Following the completion of the transaction, the insider now owns 96,451 shares in the company, valued at $7,235,754.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Andrew Hykes sold 9,000 shares of the firm’s stock in a transaction on Thursday, October 20th. The stock was sold at an average price of $72.33, for a total value of $650,970.00. Following the completion of the transaction, the chief operating officer now owns 120,998 shares in the company, valued at $8,751,785.34. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas Tu sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $75.02, for a total value of $750,200.00. Following the completion of the transaction, the insider now owns 96,451 shares of the company’s stock, valued at approximately $7,235,754.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 212,250 shares of company stock worth $15,552,483. 11.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NARI shares. Wells Fargo & Company decreased their price objective on Inari Medical from $125.00 to $105.00 in a report on Thursday, November 3rd. Jefferies Financial Group started coverage on Inari Medical in a report on Wednesday, October 12th. They issued a “buy” rating and a $88.00 price objective for the company. Morgan Stanley decreased their price objective on Inari Medical from $95.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, January 6th. Berenberg Bank initiated coverage on Inari Medical in a research note on Thursday, September 29th. They set a “buy” rating and a $85.00 price target for the company. Finally, BTIG Research cut their price target on Inari Medical from $100.00 to $97.00 and set a “buy” rating for the company in a research note on Monday, October 17th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Inari Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.60.

Inari Medical Stock Performance

NASDAQ:NARI opened at $67.05 on Tuesday. The stock has a fifty day moving average price of $70.13 and a two-hundred day moving average price of $72.73. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of -159.64 and a beta of 1.21. Inari Medical, Inc. has a 1 year low of $50.50 and a 1 year high of $100.00.

Inari Medical (NASDAQ:NARIGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.05. The firm had revenue of $96.20 million during the quarter, compared to analysts’ expectations of $90.65 million. Inari Medical had a negative return on equity of 6.02% and a negative net margin of 6.23%. On average, analysts predict that Inari Medical, Inc. will post -0.61 EPS for the current year.

Inari Medical Profile

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Inari Medical, Inc, a medical device company, develops, manufactures, markets, and sells devices for the interventional treatment of venous diseases in the United States. The company provides ClotTriever, a mechanical thrombectomy system, which is designed to core, capture, and remove large clots from large vessels, as well as for treatment of deep vein thrombosis; and FlowTriever, a large bore catheter-based aspiration and mechanical thrombectomy system, for treatment of pulmonary embolism.

See Also

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Institutional Ownership by Quarter for Inari Medical (NASDAQ:NARI)

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