Bank of New York Mellon Corp Has $35.33 Million Stock Position in Inari Medical, Inc. (NASDAQ:NARI)

Bank of New York Mellon Corp boosted its holdings in shares of Inari Medical, Inc. (NASDAQ:NARI – Get Rating) by 27.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 486,423 shares of the company’s stock after acquiring an additional 103,966 shares during the quarter. Bank of New York Mellon Corp’s holdings in Inari Medical were worth $35,333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NARI. Commonwealth Equity Services LLC lifted its position in shares of Inari Medical by 1.8% in the third quarter. Commonwealth Equity Services LLC now owns 10,814 shares of the company’s stock worth $785,000 after purchasing an additional 191 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Inari Medical by 40.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 689 shares of the company’s stock valued at $50,000 after buying an additional 200 shares during the period. FMR LLC lifted its position in Inari Medical by 42.6% in the 2nd quarter. FMR LLC now owns 824 shares of the company’s stock worth $56,000 after buying an additional 246 shares in the last quarter. Parkside Financial Bank & Trust purchased a new stake in Inari Medical in the 1st quarter worth approximately $25,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Inari Medical by 38.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,388 shares of the company’s stock valued at $106,000 after buying an additional 388 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Insider Buying and Selling

In other Inari Medical news, CFO Mitch C. Hill sold 12,750 shares of the company’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $53.82, for a total transaction of $686,205.00. Following the completion of the sale, the chief financial officer now directly owns 46,480 shares in the company, valued at $2,501,553.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Mitch C. Hill sold 12,750 shares of the business’s stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $53.82, for a total transaction of $686,205.00. Following the completion of the transaction, the chief financial officer now owns 46,480 shares of the company’s stock, valued at approximately $2,501,553.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Tu sold 10,000 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $56.72, for a total value of $567,200.00. Following the sale, the insider now owns 107,112 shares of the company’s stock, valued at approximately $6,075,392.64. The disclosure for this sale can be found here. Insiders have sold 183,500 shares of company stock worth $11,851,865 in the last quarter. 11.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NARI shares. Morgan Stanley dropped 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. Truist Financial dropped their target price on Inari Medical from $75.00 to $65.00 and set a “hold” rating on the stock in a research report on Tuesday, January 31st. Finally, Canaccord Genuity Group lifted their price target on Inari Medical from $77.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, February 28th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Inari Medical currently has an average rating of “Moderate Buy” and a consensus target price of $88.56.

Inari Medical Stock Performance

Shares of NASDAQ NARI opened at $59.12 on Tuesday. The business’s 50-day simple moving average is $59.25 and its 200-day simple moving average is $67.49. Inari Medical, Inc. has a 52 week low of $50.50 and a 52 week high of $95.39. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of -107.49 and a beta of 1.10.

Inari Medical (NASDAQ:NARI – Get Rating) last announced its quarterly earnings results on Monday, February 27th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.06. Inari Medical had a negative return on equity of 7.03% and a negative net margin of 7.63%. The company had revenue of $107.77 million for the quarter, compared to the consensus estimate of $104.85 million. During the same quarter last year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was up 29.5% compared to the same quarter last year. As a group, equities research analysts forecast that Inari Medical, Inc. will post -0.48 earnings per share for the current 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.