Tower Research Capital LLC TRC Has $136,000 Stock Holdings in Inari Medical, Inc. (NASDAQ:NARI)

Tower Research Capital LLC TRC increased its position in shares of Inari Medical, Inc. (NASDAQ:NARI) by 91.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,204 shares of the company’s stock after acquiring an additional 1,050 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Inari Medical were worth $136,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Franklin Resources Inc. lifted its stake in shares of Inari Medical by 5.2% during the fourth quarter. Franklin Resources Inc. now owns 2,386,598 shares of the company’s stock valued at $151,692,000 after acquiring an additional 117,622 shares during the period. Wedbush Securities Inc. increased its holdings in Inari Medical by 24.3% in the first quarter. Wedbush Securities Inc. now owns 6,262 shares of the company’s stock valued at $387,000 after purchasing an additional 1,225 shares during the last quarter. Jennison Associates LLC increased its holdings in Inari Medical by 15.6% in the first quarter. Jennison Associates LLC now owns 588,269 shares of the company’s stock valued at $36,320,000 after purchasing an additional 79,279 shares during the last quarter. Virtu Financial LLC bought a new stake in Inari Medical in the first quarter valued at about $1,123,000. Finally, New Mexico Educational Retirement Board increased its holdings in Inari Medical by 16.0% in the first quarter. New Mexico Educational Retirement Board now owns 8,700 shares of the company’s stock valued at $537,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.

Insider Activity at Inari Medical

In other Inari Medical news, CEO Andrew Hykes sold 36,676 shares of Inari Medical stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $66.11, for a total transaction of $2,424,650.36. Following the transaction, the chief executive officer now directly owns 475,132 shares of the company’s stock, valued at approximately $31,410,976.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Inari Medical news, CEO Andrew Hykes sold 36,676 shares of Inari Medical stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $66.11, for a total transaction of $2,424,650.36. Following the transaction, the chief executive officer now directly owns 475,132 shares of the company’s stock, valued at approximately $31,410,976.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mitch C. Hill sold 6,500 shares of Inari Medical stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $59.24, for a total value of $385,060.00. Following the completion of the transaction, the chief financial officer now directly owns 173,054 shares of the company’s stock, valued at $10,251,718.96. The disclosure for this sale can be found here. Insiders have sold a total of 131,102 shares of company stock valued at $8,151,683 in the last 90 days. 13.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. 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 report on Wednesday, July 19th. Robert W. Baird assumed coverage on Inari Medical in a report on Tuesday, July 18th. They issued an “outperform” rating and a $79.00 price target for the company. Piper Sandler lowered their price target on Inari Medical from $92.00 to $90.00 in a report on Thursday, August 3rd. Morgan Stanley restated an “overweight” rating and issued a $83.00 price target on shares of Inari Medical in a report on Thursday, August 3rd. Finally, Wells Fargo & Company lowered their price target on Inari Medical from $105.00 to $100.00 in a report on Thursday, August 3rd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.22.

Inari Medical Price Performance

Inari Medical stock opened at $69.45 on Thursday. Inari Medical, Inc. has a one year low of $52.59 and a one year high of $83.84. The stock’s fifty day moving average price is $60.57 and its two-hundred day moving average price is $61.39. The firm has a market cap of $3.98 billion, a PE ratio of -231.50 and a beta of 1.05.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.04 earnings per share for the quarter, beating 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 company had revenue of $119.01 million for the quarter, compared to the consensus estimate of $116.67 million. During the same quarter last year, the business posted ($0.19) EPS. Inari Medical’s revenue for the quarter was up 28.3% on a year-over-year basis. Sell-side analysts expect that Inari Medical, Inc. will post 0.04 earnings per share for the current fiscal year.

About Inari Medical

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.