14,400 Shares in Inari Medical, Inc. (NASDAQ:NARI) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in Inari Medical, Inc. (NASDAQ:NARI) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 14,400 shares of the company’s stock, valued at approximately $935,000.

A number of other large investors also recently added to or reduced their stakes in the business. New York State Teachers Retirement System raised its position in Inari Medical by 0.4% in the 4th quarter. New York State Teachers Retirement System now owns 53,924 shares of the company’s stock worth $3,501,000 after purchasing an additional 233 shares during the period. Asset Management One Co. Ltd. raised its position in Inari Medical by 5.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 50,075 shares of the company’s stock worth $3,261,000 after purchasing an additional 2,685 shares during the period. Pacer Advisors Inc. raised its position in Inari Medical by 79.8% in the 4th quarter. Pacer Advisors Inc. now owns 7,688 shares of the company’s stock worth $499,000 after purchasing an additional 3,412 shares during the period. Raymond James & Associates purchased a new position in Inari Medical in the 4th quarter worth $216,000. Finally, SG Americas Securities LLC raised its position in Inari Medical by 47.8% in the 4th quarter. SG Americas Securities LLC now owns 21,746 shares of the company’s stock worth $1,412,000 after purchasing an additional 7,036 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Activity at Inari Medical

In related news, Director William Hoffman sold 40,000 shares of the business’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 transaction, the director now owns 1,003,296 shares in the company, valued at $41,265,564.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Mitch C. Hill sold 6,000 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $40.96, for a total transaction of $245,760.00. Following the sale, the chief financial officer now owns 181,294 shares of the company’s stock, valued at $7,425,802.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Hoffman sold 40,000 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $41.13, for a total transaction of $1,645,200.00. Following the sale, the director now directly owns 1,003,296 shares in the company, valued at approximately $41,265,564.48. The disclosure for this sale can be found here. Insiders have sold 47,451 shares of company stock worth $1,949,000 over the last 90 days. 10.60% of the stock is owned by company insiders.

Inari Medical Price Performance

Shares of NASDAQ NARI opened at $38.07 on Friday. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $71.85. The company’s 50-day moving average is $45.68 and its 200 day moving average is $54.65. The stock has a market capitalization of $2.21 billion, a P/E ratio of -1,269.00 and a beta of 0.84.

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

Analyst Ratings Changes

NARI has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $72.00 price objective on shares of Inari Medical in a research report on Wednesday, March 6th. 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 research report on Friday, March 22nd. Piper Sandler cut 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 research report on Thursday, February 29th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $75.00 price objective on shares of Inari Medical in a research report on Friday, April 12th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $73.71.

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.