Vanguard Personalized Indexing Management LLC Takes Position in Inari Medical, Inc. (NASDAQ:NARI)

Vanguard Personalized Indexing Management LLC bought a new position in shares of Inari Medical, Inc. (NASDAQ:NARI) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,429 shares of the company’s stock, valued at approximately $273,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NARI. Franklin Resources Inc. grew its stake in Inari Medical by 5.2% in the 4th quarter. Franklin Resources Inc. now owns 2,386,598 shares of the company’s stock worth $151,692,000 after buying an additional 117,622 shares in the last quarter. Wedbush Securities Inc. grew its stake in Inari Medical by 24.3% in the 1st quarter. Wedbush Securities Inc. now owns 6,262 shares of the company’s stock worth $387,000 after buying an additional 1,225 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Inari Medical by 15.6% in the 1st 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 in the last quarter. Virtu Financial LLC purchased a new stake in shares of Inari Medical in the 1st quarter valued at $1,123,000. Finally, New Mexico Educational Retirement Board boosted its stake in shares of Inari Medical by 16.0% in the 1st 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 in the last quarter. Institutional investors own 87.75% of the company’s stock.

Insider Activity

In other news, CFO Mitch C. Hill sold 6,500 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $59.24, for a total transaction of $385,060.00. Following the completion of the sale, the chief financial officer now directly owns 173,054 shares of the company’s stock, valued at $10,251,718.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Inari Medical news, Director William Hoffman sold 25,000 shares of the business’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $57.08, for a total value of $1,427,000.00. Following the completion of the transaction, the director now directly owns 1,073,055 shares in the company, valued at $61,249,979.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mitch C. Hill sold 6,500 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $59.24, for a total transaction of $385,060.00. Following the completion of the transaction, the chief financial officer now owns 173,054 shares of the company’s stock, valued at $10,251,718.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 131,102 shares of company stock valued at $8,151,683. 13.70% of the stock is currently owned by company insiders.

Inari Medical Stock Performance

Shares of NARI opened at $66.62 on Friday. The company’s fifty day moving average is $60.78 and its 200 day moving average is $61.45. Inari Medical, Inc. has a fifty-two week low of $52.59 and a fifty-two week high of $83.84. The stock has a market capitalization of $3.82 billion, a PE ratio of -222.07 and a beta of 1.05.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.18. The company had revenue of $119.01 million during the quarter, compared to analyst estimates of $116.67 million. Inari Medical had a negative net margin of 3.66% and a negative return on equity of 3.80%. Inari Medical’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.19) earnings per share. As a group, research analysts forecast that Inari Medical, Inc. will post 0.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NARI. Wells Fargo & Company cut their price objective on shares of Inari Medical from $105.00 to $100.00 in a research note on Thursday, August 3rd. Piper Sandler dropped their price target on shares of Inari Medical from $92.00 to $90.00 in a research report on Thursday, August 3rd. Robert W. Baird assumed coverage on shares of Inari Medical in a research report on Tuesday, July 18th. They set an “outperform” rating and a $79.00 price target for the company. Morgan Stanley reissued an “overweight” rating and set a $83.00 price target on shares of Inari Medical in a research report on Thursday, August 3rd. Finally, Truist Financial dropped their price target on shares of Inari Medical from $70.00 to $65.00 and set a “hold” rating for the company in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $85.22.

Inari Medical Profile

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.