Asset Management One Co. Ltd. Has $3.26 Million Stake in Inari Medical, Inc. (NASDAQ:NARI)

Asset Management One Co. Ltd. increased its position in shares of Inari Medical, Inc. (NASDAQ:NARI) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,075 shares of the company’s stock after buying an additional 2,685 shares during the period. Asset Management One Co. Ltd.’s holdings in Inari Medical were worth $3,261,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust acquired a new position in Inari Medical during the first quarter worth $25,000. Quarry LP acquired a new position in shares of Inari Medical in the second quarter valued at $27,000. Fifth Third Bancorp increased its holdings in shares of Inari Medical by 54.3% in the third quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock valued at $32,000 after purchasing an additional 171 shares during the last quarter. Point72 Middle East FZE acquired a new position in shares of Inari Medical in the fourth quarter valued at $55,000. Finally, FMR LLC increased its holdings in shares of Inari Medical by 42.6% in the second quarter. FMR LLC now owns 824 shares of the company’s stock valued at $56,000 after purchasing an additional 246 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $41.13, for a total transaction of $1,645,200.00. Following the completion of the sale, the director now owns 1,003,296 shares of the company’s stock, valued at $41,265,564.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.60% of the stock is currently owned by company insiders.

Inari Medical Stock Performance

NARI stock opened at $41.52 on Friday. The company’s 50-day simple moving average is $49.07 and its 200 day simple moving average is $56.43. Inari Medical, Inc. has a 52 week low of $39.90 and a 52 week high of $71.85. The company has a market capitalization of $2.41 billion, a PE ratio of -1,384.00 and a beta of 0.84.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.09). Inari Medical had a positive return on equity of 1.23% and a negative net margin of 0.33%. The firm had revenue of $132.10 million for the quarter, compared to the consensus estimate of $131.82 million. During the same period in the prior year, the company earned ($0.11) EPS. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. On average, analysts forecast that Inari Medical, Inc. will post -0.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of Inari Medical in a report on Wednesday, March 6th. Canaccord Genuity Group decreased their price objective on shares of Inari Medical from $79.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Truist Financial decreased their price objective on shares of Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Finally, Piper Sandler downgraded shares of Inari Medical from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $85.00 to $55.00 in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.71.

Inari Medical Profile

Inari Medical, Inc builds minimally invasive, novel, and catheter-based mechanical thrombectomy devices and accessories for the specific disease states in the United States. The company provides ClotTriever system, which is designed to core, capture, and remove large clots from large vessels for treatment of deep vein thrombosis and peripheral thrombus; FlowTriever system, 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; InThrill system to treat small vessel thrombosis; and LimFlow system for patients who have chronic limb-threatening ischemia with no suitable endovascular or surgical revascularization options and risk of major amputation.