Assetmark Inc. Acquires 747 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Assetmark Inc. lifted its holdings in Inari Medical, Inc. (NASDAQ:NARI – Get Rating) by 69.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,828 shares of the company’s stock after buying an additional 747 shares during the period. Assetmark Inc.’s holdings in Inari Medical were worth $133,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NARI. Parkside Financial Bank & Trust purchased a new stake in shares of Inari Medical in the 1st quarter worth approximately $25,000. Fifth Third Bancorp purchased a new stake in Inari Medical during the second quarter valued at approximately $27,000. FMR LLC lifted its position in Inari Medical by 42.6% during 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 last quarter. US Bancorp DE lifted its position in Inari Medical by 16.1% during the second quarter. US Bancorp DE now owns 1,809 shares of the company’s stock valued at $123,000 after acquiring an additional 251 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in Inari Medical during the first quarter valued at approximately $145,000. 85.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Inari Medical

In other news, insider Thomas Tu sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $75.02, for a total value of $750,200.00. Following the transaction, the insider now directly owns 96,451 shares of the company’s stock, valued at $7,235,754.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Thomas Tu sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $75.02, for a total value of $750,200.00. Following the transaction, the insider now directly owns 96,451 shares of the company’s stock, valued at $7,235,754.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mitch C. Hill sold 12,750 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $79.13, for a total transaction of $1,008,907.50. Following the completion of the transaction, the chief financial officer now directly owns 65,736 shares in the company, valued at $5,201,689.68. The disclosure for this sale can be found here. Insiders have sold a total of 258,250 shares of company stock valued at $18,581,013 over the last ninety days. Corporate insiders own 11.90% of the company’s stock.

Wall Street Analyst Weigh In

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

Inari Medical Price Performance

NASDAQ:NARI opened at $62.39 on Friday. The company’s fifty day moving average price is $69.41 and its 200-day moving average price is $72.55. Inari Medical, Inc. has a 1-year low of $50.50 and a 1-year high of $100.00. The firm has a market capitalization of $3.35 billion, a P/E ratio of -148.55 and a beta of 1.21.

Inari Medical (NASDAQ:NARI – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.05. The firm had revenue of $96.20 million for the quarter, compared to the consensus estimate of $90.65 million. Inari Medical had a negative net margin of 6.23% and a negative return on equity of 6.02%. Equities analysts anticipate that Inari Medical, Inc. will post -0.61 EPS for the current fiscal year.

About Inari Medical

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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.