Inari Medical, Inc. (NASDAQ:NARI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in shares of Inari Medical, Inc. (NASDAQ:NARI) by 19.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 609,194 shares of the company’s stock after selling 144,774 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.06% of Inari Medical worth $39,549,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. New York State Teachers Retirement System raised its position in shares of Inari Medical by 0.4% during the 4th quarter. New York State Teachers Retirement System now owns 53,924 shares of the company’s stock worth $3,501,000 after purchasing an additional 233 shares during the period. Asset Management One Co. Ltd. increased its position in Inari Medical by 5.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 50,075 shares of the company’s stock worth $3,261,000 after buying an additional 2,685 shares during the period. Pacer Advisors Inc. lifted its stake in Inari Medical by 79.8% in the fourth quarter. Pacer Advisors Inc. now owns 7,688 shares of the company’s stock valued at $499,000 after buying an additional 3,412 shares during the last quarter. Raymond James & Associates acquired a new position in shares of Inari Medical during the fourth quarter valued at $216,000. Finally, SG Americas Securities LLC grew its position in shares of Inari Medical by 47.8% during the fourth quarter. SG Americas Securities LLC now owns 21,746 shares of the company’s stock worth $1,412,000 after acquiring an additional 7,036 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

Inari Medical Stock Down 3.6 %

Shares of NASDAQ NARI opened at $41.52 on Friday. Inari Medical, Inc. has a 1 year low of $39.90 and a 1 year high of $71.85. The stock has a fifty day moving average price of $49.07 and a two-hundred day moving average price of $56.43.

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

Analyst Ratings Changes

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

Insider Activity

In related news, Director William Hoffman sold 40,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 1,003,296 shares in the company, valued at approximately $41,265,564.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.60% of the company’s stock.

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.