Comerica Bank Has $1.58 Million Stock Holdings in Inari Medical, Inc. (NASDAQ:NARI)

Comerica Bank lifted its position in shares of Inari Medical, Inc. (NASDAQ:NARI – Get Rating) by 38.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,570 shares of the company’s stock after acquiring an additional 5,972 shares during the quarter. Comerica Bank’s holdings in Inari Medical were worth $1,579,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NARI. Texas Permanent School Fund bought a new stake in Inari Medical during the 2nd quarter worth approximately $1,671,000. State of New Jersey Common Pension Fund D bought a new stake in Inari Medical in the second quarter valued at approximately $2,652,000. Renaissance Technologies LLC boosted its holdings in Inari Medical by 105.6% in the second quarter. Renaissance Technologies LLC now owns 194,299 shares of the company’s stock valued at $13,210,000 after acquiring an additional 99,800 shares during the last quarter. Securian Asset Management Inc. boosted its holdings in Inari Medical by 41.6% in the third quarter. Securian Asset Management Inc. now owns 4,388 shares of the company’s stock valued at $319,000 after acquiring an additional 1,289 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Inari Medical in the 2nd quarter worth approximately $332,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

Inari Medical Stock Performance

NASDAQ:NARI opened at $62.39 on Friday. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of -148.55 and a beta of 1.21. Inari Medical, Inc. has a 52-week low of $50.50 and a 52-week high of $100.00. The stock has a fifty day moving average of $69.41 and a 200 day moving average of $72.55.

Inari Medical (NASDAQ:NARI – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.05. Inari Medical had a negative net margin of 6.23% and a negative return on equity of 6.02%. The business had revenue of $96.20 million during the quarter, compared to analysts’ expectations of $90.65 million. Equities analysts forecast that Inari Medical, Inc. will post -0.61 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO William Hoffman sold 55,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $81.67, for a total value of $4,491,850.00. Following the completion of the sale, the chief executive officer now directly owns 237,481 shares in the company, valued at approximately $19,395,073.27. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO William Hoffman sold 55,000 shares of the stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $81.67, for a total transaction of $4,491,850.00. Following the completion of the sale, the chief executive officer now directly owns 237,481 shares in the company, valued at approximately $19,395,073.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas Tu sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $75.02, for a total value of $750,200.00. Following the completion of the sale, the insider now owns 96,451 shares of the company’s stock, valued at approximately $7,235,754.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 258,250 shares of company stock worth $18,581,013. 11.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NARI. Berenberg Bank started coverage on Inari Medical in a report on Thursday, September 29th. They set a “buy” rating and a $85.00 price target for the company. Jefferies Financial Group started coverage on shares of Inari Medical in a report on Wednesday, October 12th. They issued a “buy” rating and a $88.00 price target for the company. Morgan Stanley cut their price objective on shares of Inari Medical from $95.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, January 6th. BTIG Research dropped their price target on Inari Medical from $100.00 to $97.00 and set a “buy” rating on the stock in a research note on Monday, October 17th. 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 equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Inari Medical currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.60.

Inari Medical Company Profile

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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.