Inari Medical, Inc. (NASDAQ:NARI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in Inari Medical, Inc. (NASDAQ:NARI – Get Rating) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 198,230 shares of the company’s stock after selling 4,768 shares during the period. Principal Financial Group Inc.’s holdings in Inari Medical were worth $12,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in Inari Medical by 12.4% in the first quarter. Bank of New York Mellon Corp now owns 153,944 shares of the company’s stock valued at $13,954,000 after buying an additional 16,986 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Inari Medical by 54.1% in the first quarter. MetLife Investment Management LLC now owns 18,821 shares of the company’s stock valued at $1,706,000 after buying an additional 6,604 shares during the last quarter. Rhumbline Advisers lifted its stake in Inari Medical by 2.9% in the first quarter. Rhumbline Advisers now owns 35,997 shares of the company’s stock valued at $3,263,000 after buying an additional 1,005 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Inari Medical by 30.6% in the first quarter. Dimensional Fund Advisors LP now owns 290,206 shares of the company’s stock valued at $26,304,000 after buying an additional 67,988 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Inari Medical by 200.7% in the first quarter. Canada Pension Plan Investment Board now owns 2,189 shares of the company’s stock valued at $198,000 after buying an additional 1,461 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NARI. Truist Financial lifted their price objective on shares of Inari Medical from $68.00 to $70.00 in a research note on Tuesday, April 18th. Canaccord Genuity Group lifted their price objective on shares of Inari Medical from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.11.

Inari Medical Trading Down 3.8 %

Shares of Inari Medical stock opened at $59.45 on Friday. The company’s 50-day moving average price is $64.83 and its two-hundred day moving average price is $64.73. Inari Medical, Inc. has a 52 week low of $52.59 and a 52 week high of $86.94.

Inari Medical (NASDAQ:NARI – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.19. The firm had revenue of $116.17 million for the quarter, compared to analysts’ expectations of $110.30 million. Inari Medical had a negative return on equity of 6.78% and a negative net margin of 6.87%. Inari Medical’s revenue was up 33.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) EPS. As a group, analysts expect that Inari Medical, Inc. will post -0.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Thomas Tu sold 10,000 shares of Inari Medical stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $56.72, for a total value of $567,200.00. Following the transaction, the insider now owns 107,112 shares of the company’s stock, valued at approximately $6,075,392.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Inari Medical news, Director William Hoffman sold 5,000 shares of Inari Medical stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $60.10, for a total transaction of $300,500.00. Following the transaction, the director now owns 1,252,540 shares of the company’s stock, valued at approximately $75,277,654. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas Tu sold 10,000 shares of Inari Medical stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $56.72, for a total value of $567,200.00. Following the transaction, the insider now directly owns 107,112 shares in the company, valued at approximately $6,075,392.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,233 shares of company stock valued at $12,319,658. 11.90% of the stock is owned by corporate insiders.

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.