State Board of Administration of Florida Retirement System Boosts Stake in Inari Medical, Inc. (NASDAQ:NARI)

State Board of Administration of Florida Retirement System raised its position in Inari Medical, Inc. (NASDAQ:NARIGet Rating) by 69.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,166 shares of the company’s stock after buying an additional 5,380 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Inari Medical were worth $895,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NARI. Truist Financial Corp purchased a new position in Inari Medical in the 1st quarter valued at about $258,000. Granite Investment Partners LLC acquired a new stake in shares of Inari Medical in the 1st quarter valued at about $13,774,000. Envestnet Asset Management Inc. raised its stake in shares of Inari Medical by 16.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 21,116 shares of the company’s stock valued at $1,914,000 after purchasing an additional 3,046 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Inari Medical by 4.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 11,384 shares of the company’s stock valued at $1,031,000 after purchasing an additional 494 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Inari Medical by 200.3% in the 1st quarter. Victory Capital Management Inc. now owns 15,140 shares of the company’s stock valued at $1,222,000 after purchasing an additional 10,099 shares in the last quarter. 84.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NARI has been the topic of a number of recent analyst reports. Berenberg Bank initiated coverage on shares of Inari Medical in a research note on Thursday, September 29th. They issued a “buy” rating and a $85.00 target price on the stock. BTIG Research cut their target price on shares of Inari Medical from $100.00 to $97.00 and set a “buy” rating on the stock in a research note on Monday, October 17th. Canaccord Genuity Group increased their price objective on shares of Inari Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, September 16th. Jefferies Financial Group began coverage on shares of Inari Medical in a research note on Wednesday, October 12th. They set a “buy” rating and a $88.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of Inari Medical from $125.00 to $105.00 in a research note on Thursday, November 3rd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.30.

Insider Buying and Selling at Inari Medical

In other Inari Medical news, COO Andrew Hykes sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the sale, the chief operating officer now owns 130,991 shares in the company, valued at $9,169,370. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Andrew Hykes sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the transaction, the chief operating officer now directly owns 130,991 shares in the company, valued at $9,169,370. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Hoffman sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $71.46, for a total transaction of $2,143,800.00. Following the completion of the transaction, the chief executive officer now owns 378,901 shares of the company’s stock, valued at $27,076,265.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 224,192 shares of company stock worth $17,256,616. 11.90% of the stock is owned by company insiders.

Inari Medical Trading Down 4.4 %

Shares of NASDAQ:NARI opened at $79.05 on Friday. The firm’s 50 day moving average is $73.87 and its two-hundred day moving average is $71.38. Inari Medical, Inc. has a 52 week low of $50.50 and a 52 week high of $100.00. The firm has a market capitalization of $4.24 billion, a P/E ratio of -188.21 and a beta of 1.21.

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.

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Institutional Ownership by Quarter for Inari Medical (NASDAQ:NARI)

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