Rhumbline Advisers Sells 521 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Rhumbline Advisers lowered its stake in shares of Inari Medical, Inc. (NASDAQ:NARI) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 152,925 shares of the company’s stock after selling 521 shares during the period. Rhumbline Advisers owned approximately 0.27% of Inari Medical worth $9,442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in Inari Medical by 46.8% during the first quarter. Wellington Management Group LLP now owns 4,626,607 shares of the company’s stock worth $419,355,000 after buying an additional 1,475,313 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Inari Medical by 6.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,243,238 shares of the company’s stock valued at $308,229,000 after purchasing an additional 242,983 shares in the last quarter. Capital International Investors lifted its holdings in shares of Inari Medical by 0.8% during the 1st quarter. Capital International Investors now owns 2,838,045 shares of the company’s stock valued at $257,240,000 after purchasing an additional 22,159 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Inari Medical by 5.2% during the 4th quarter. Franklin Resources Inc. now owns 2,386,598 shares of the company’s stock valued at $151,692,000 after purchasing an additional 117,622 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Inari Medical by 22.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,966,302 shares of the company’s stock valued at $133,689,000 after purchasing an additional 356,309 shares in the last quarter. Institutional investors own 87.75% of the company’s stock.

Inari Medical Stock Down 0.4 %

NASDAQ:NARI opened at $66.33 on Monday. Inari Medical, Inc. has a twelve month low of $52.59 and a twelve month high of $83.84. The stock’s 50 day moving average price is $61.11 and its two-hundred day moving average price is $61.63.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

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

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.