State of Alaska Department of Revenue Sells 580 Shares of Inari Medical, Inc. (NASDAQ:NARI)

State of Alaska Department of Revenue cut its holdings in shares of Inari Medical, Inc. (NASDAQ:NARI) by 9.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,529 shares of the company’s stock after selling 580 shares during the period. State of Alaska Department of Revenue’s holdings in Inari Medical were worth $358,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $75.00 price target on shares of Inari Medical in a research note on Friday. Truist Financial decreased their price objective on Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Needham & Company LLC restated a “buy” rating and issued a $72.00 price objective on shares of Inari Medical in a report on Wednesday, March 6th. Finally, Piper Sandler downgraded 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 analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $73.71.

Inari Medical Trading Down 1.8 %

Shares of Inari Medical stock opened at $40.78 on Friday. The business has a 50-day moving average price of $48.73 and a two-hundred day moving average price of $56.20. Inari Medical, Inc. has a 1-year low of $39.90 and a 1-year high of $71.85. The company has a market cap of $2.36 billion, a P/E ratio of -1,359.33 and a beta of 0.84.

Inari Medical (NASDAQ:NARI) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $132.10 million for the quarter, compared to analyst estimates of $131.82 million. During the same quarter in the previous year, the business posted ($0.11) earnings per share. The business’s revenue was up 22.5% on a year-over-year basis. Equities research analysts forecast that Inari Medical, Inc. will post -0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director William Hoffman sold 40,000 shares of the 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 transaction, the director now owns 1,003,296 shares of the company’s stock, valued at approximately $41,265,564.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 10.60% of the company’s stock.

About Inari Medical

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.