SG Americas Securities LLC Lowers Holdings in Inari Medical, Inc. (NASDAQ:NARI)

SG Americas Securities LLC trimmed its holdings in Inari Medical, Inc. (NASDAQ:NARIGet Rating) by 65.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 6,588 shares of the company’s stock after selling 12,334 shares during the period. SG Americas Securities LLC’s holdings in Inari Medical were worth $479,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust purchased a new position in shares of Inari Medical during the first quarter worth $25,000. Fifth Third Bancorp purchased a new position in shares of Inari Medical during the second quarter worth $27,000. FMR LLC boosted its position in shares of Inari Medical by 42.6% during the second quarter. FMR LLC now owns 824 shares of the company’s stock worth $56,000 after buying an additional 246 shares during the period. Assetmark Inc. boosted its position in shares of Inari Medical by 365.9% during the second quarter. Assetmark Inc. now owns 1,081 shares of the company’s stock worth $73,000 after buying an additional 849 shares during the period. Finally, US Bancorp DE boosted its position in shares of Inari Medical by 16.1% during the second quarter. US Bancorp DE now owns 1,809 shares of the company’s stock worth $123,000 after buying an additional 251 shares during the period. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Inari Medical Price Performance

Inari Medical stock opened at $62.01 on Wednesday. The stock’s fifty day moving average is $68.64 and its two-hundred day moving average is $72.37. The stock has a market cap of $3.33 billion, a PE ratio of -147.64 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 issued 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 company had revenue of $96.20 million for the quarter, compared to analyst estimates 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, research analysts expect that Inari Medical, Inc. will post -0.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Inari Medical news, CEO William Hoffman sold 55,000 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $81.67, for a total transaction of $4,491,850.00. Following the transaction, the chief executive officer now owns 237,481 shares of the company’s stock, valued at $19,395,073.27. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO Andrew Hykes sold 9,000 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $77.66, for a total transaction of $698,940.00. Following the transaction, the chief operating officer now owns 111,998 shares of the company’s stock, valued at $8,697,764.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William Hoffman sold 55,000 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $81.67, for a total value of $4,491,850.00. Following the transaction, the chief executive officer now directly owns 237,481 shares in the company, valued at approximately $19,395,073.27. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 267,250 shares of company stock valued at $19,138,113. 11.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NARI. Jefferies Financial Group began coverage on Inari Medical in a research report on Wednesday, October 12th. They set a “buy” rating and a $88.00 price target for the company. BTIG Research lowered their price target on Inari Medical from $100.00 to $97.00 and set a “buy” rating for the company in a research report on Monday, October 17th. Truist Financial lowered their price target on Inari Medical from $84.00 to $75.00 and set a “hold” rating for the company in a research report on Tuesday, December 20th. Morgan Stanley reduced their price objective on 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, Wells Fargo & Company reduced their price objective on Inari Medical from $125.00 to $105.00 in a research note on Thursday, November 3rd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Inari Medical presently has a consensus rating of “Moderate Buy” and an average target price of $91.60.

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.

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

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