Retirement Systems of Alabama Buys 366 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Retirement Systems of Alabama grew its stake in shares of Inari Medical, Inc. (NASDAQ:NARI) by 0.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 64,100 shares of the company’s stock after purchasing an additional 366 shares during the period. Retirement Systems of Alabama’s holdings in Inari Medical were worth $4,161,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Fifth Third Bancorp raised its holdings in Inari Medical by 54.3% in the 3rd quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock valued at $32,000 after acquiring an additional 171 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Inari Medical by 139.7% in the third quarter. Nisa Investment Advisors LLC now owns 1,189 shares of the company’s stock worth $78,000 after purchasing an additional 693 shares during the period. Handelsinvest Investeringsforvaltning acquired a new stake in Inari Medical during the fourth quarter worth $185,000. Vanguard Personalized Indexing Management LLC bought a new stake in Inari Medical in the 3rd quarter valued at $204,000. Finally, Blair William & Co. IL bought a new stake in Inari Medical in the 3rd quarter valued at $205,000. Institutional investors own 90.98% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Needham & Company LLC decreased their target price on shares of Inari Medical from $72.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Truist Financial decreased their price objective on Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Piper Sandler dropped their target price on Inari Medical from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Canaccord Genuity Group cut their target price on Inari Medical from $75.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company lowered their price target on Inari Medical from $100.00 to $84.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.71.

Inari Medical Price Performance

NARI stock opened at $41.84 on Tuesday. The business has a fifty day moving average price of $42.83 and a 200 day moving average price of $53.53. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $71.85. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -102.05 and a beta of 0.93.

Inari Medical (NASDAQ:NARI) last announced its 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). The business had revenue of $132.10 million during the quarter, compared to analyst estimates of $131.82 million. Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.11) earnings per share. On average, equities analysts expect that Inari Medical, Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Inari Medical

In other news, Director William Hoffman sold 40,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 1,003,296 shares of the company’s stock, valued at $41,265,564.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Mitch C. Hill sold 6,000 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $40.96, for a total transaction of $245,760.00. Following the completion of the sale, the chief financial officer now owns 181,294 shares in the company, valued at $7,425,802.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $41.13, for a total value of $1,645,200.00. Following the transaction, 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. In the last 90 days, insiders sold 86,000 shares of company stock worth $3,568,058. 10.60% of the stock is currently owned by corporate insiders.

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.