Vanguard Group Inc. Trims Position in Inari Medical, Inc. (NASDAQ:NARI)

Vanguard Group Inc. decreased its holdings in shares of Inari Medical, Inc. (NASDAQ:NARI) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,712,706 shares of the company’s stock after selling 36,096 shares during the quarter. Vanguard Group Inc. owned about 8.18% of Inari Medical worth $308,211,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NARI. BlackRock Inc. grew its holdings in Inari Medical by 13.0% in the 2nd quarter. BlackRock Inc. now owns 6,385,806 shares of the company’s stock valued at $371,271,000 after buying an additional 733,738 shares during the period. Wellington Management Group LLP boosted its position in shares of Inari Medical by 46.8% in the first quarter. Wellington Management Group LLP now owns 4,626,607 shares of the company’s stock worth $419,355,000 after acquiring an additional 1,475,313 shares during the last quarter. Capital International Investors grew its holdings in Inari Medical by 0.8% in the first quarter. Capital International Investors now owns 2,838,045 shares of the company’s stock valued at $257,240,000 after purchasing an additional 22,159 shares during the period. Alliancebernstein L.P. increased its position in Inari Medical by 12.0% during the second quarter. Alliancebernstein L.P. now owns 2,305,171 shares of the company’s stock worth $134,023,000 after purchasing an additional 247,389 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Inari Medical by 22.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,966,302 shares of the company’s stock worth $133,689,000 after purchasing an additional 356,309 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Inari Medical Price Performance

NASDAQ:NARI opened at $47.40 on Thursday. Inari Medical, Inc. has a 12 month low of $39.90 and a 12 month high of $71.85. The business’s 50-day moving average is $51.88 and its two-hundred day moving average is $58.07. The firm has a market capitalization of $2.75 billion, a PE ratio of -1,580.00 and a beta of 0.84.

Inari Medical (NASDAQ:NARI) last announced its earnings results on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.09). The company had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $131.82 million. Inari Medical had a negative net margin of 0.33% and a positive return on equity of 1.23%. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.11) earnings per share. Equities analysts anticipate that Inari Medical, Inc. will post -0.39 EPS for the current year.

Insider Transactions at Inari Medical

In other news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $41.13, for a total value of $1,645,200.00. Following the completion of the transaction, the director now directly owns 1,003,296 shares in the company, valued at $41,265,564.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 10.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Truist Financial lowered their price objective on shares of Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Inari Medical in a research note on Wednesday, March 6th. Piper Sandler cut Inari Medical from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $85.00 to $55.00 in a report on Thursday, February 29th. Finally, Canaccord Genuity Group cut their price target on shares of Inari Medical from $79.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.71.

Inari Medical Company Profile

Inari Medical, Inc builds minimally invasive, novel, and catheter-based mechanical thrombectomy devices and accessories for the specific disease states in the United States. The company provides ClotTriever system, which is designed to core, capture, and remove large clots from large vessels for treatment of deep vein thrombosis and peripheral thrombus; FlowTriever system, 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; InThrill system to treat small vessel thrombosis; and LimFlow system for patients who have chronic limb-threatening ischemia with no suitable endovascular or surgical revascularization options and risk of major amputation.