Affinity Asset Advisors LLC lowered its stake in shares of Inari Medical, Inc. (NASDAQ:NARI – Free Report) by 77.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 20,000 shares of the company’s stock after selling 70,000 shares during the quarter. Affinity Asset Advisors LLC’s holdings in Inari Medical were worth $1,235,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of NARI. Parkside Financial Bank & Trust bought a new position in Inari Medical during the 1st quarter valued at about $25,000. Banque Cantonale Vaudoise purchased a new stake in shares of Inari Medical during the 1st quarter valued at about $48,000. Point72 Middle East FZE purchased a new stake in shares of Inari Medical during the 4th quarter valued at about $55,000. Belpointe Asset Management LLC purchased a new stake in shares of Inari Medical during the 4th quarter valued at about $56,000. Finally, FMR LLC increased its position in shares of Inari Medical by 42.6% during the 2nd quarter. FMR LLC now owns 824 shares of the company’s stock valued at $56,000 after purchasing an additional 246 shares during the last quarter. Institutional investors own 87.75% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on NARI shares. Morgan Stanley reissued an “overweight” rating and issued a $83.00 target price on shares of Inari Medical in a report on Thursday, August 3rd. Wells Fargo & Company lowered their price target on Inari Medical from $105.00 to $100.00 in a research report on Thursday, August 3rd. Truist Financial lowered their price target on Inari Medical from $70.00 to $65.00 and set a “hold” rating for the company in a research report on Wednesday, July 19th. Piper Sandler decreased their target price on Inari Medical from $92.00 to $90.00 in a research report on Thursday, August 3rd. Finally, Robert W. Baird initiated coverage on Inari Medical in a research report on Tuesday, July 18th. They set an “outperform” rating and a $79.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.22.
Insider Buying and Selling at Inari Medical
In other Inari Medical news, Director William Hoffman sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $57.74, for a total value of $1,443,500.00. Following the completion of the transaction, the director now directly owns 1,098,055 shares of the company’s stock, valued at $63,401,695.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Andrew Hykes sold 36,676 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $66.11, for a total value of $2,424,650.36. Following the completion of the sale, the chief executive officer now directly owns 475,132 shares in the company, valued at $31,410,976.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Hoffman sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $57.74, for a total value of $1,443,500.00. Following the completion of the sale, the director now owns 1,098,055 shares of the company’s stock, valued at $63,401,695.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,602 shares of company stock valued at $7,766,623. 11.90% of the stock is owned by company insiders.
Inari Medical Price Performance
NASDAQ NARI traded up $2.02 during trading on Monday, hitting $67.95. The company’s stock had a trading volume of 387,854 shares, compared to its average volume of 805,087. The company has a market cap of $3.90 billion, a PE ratio of -219.77 and a beta of 1.00. The business’s 50 day simple moving average is $61.85 and its 200-day simple moving average is $61.95. Inari Medical, Inc. has a fifty-two week low of $52.59 and a fifty-two week high of $83.84.
Inari Medical (NASDAQ:NARI – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.18. Inari Medical had a negative return on equity of 3.80% and a negative net margin of 3.66%. The business had revenue of $119.01 million during the quarter, compared to the consensus estimate of $116.67 million. During the same quarter last year, the company earned ($0.19) earnings per share. The company’s quarterly revenue was up 28.3% on a year-over-year basis. Analysts expect that Inari Medical, Inc. will post 0.04 EPS for the current fiscal year.
Inari Medical Profile
Inari Medical, Inc builds minimally invasive, novel, and catheter-based mechanical thrombectomy systems for the specific disease states in the United States. The company provides ClotTriever, which is designed to core, capture, and remove large clots from large vessels for treatment of deep vein thrombosis and peripheral thrombus; and FlowTriever, a large bore catheter-based aspiration and mechanical thrombectomy system to remove large clots from large vessels in the peripheral vasculature for treating pulmonary embolism and other complex venous thromboembolism cases.
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