Inari Medical, Inc. (NASDAQ:NARI) Stock Position Lifted by Jennison Associates LLC

Jennison Associates LLC increased its position in Inari Medical, Inc. (NASDAQ:NARI) by 8.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 443,509 shares of the company’s stock after acquiring an additional 33,419 shares during the period. Jennison Associates LLC’s holdings in Inari Medical were worth $28,793,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Fifth Third Bancorp lifted 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 buying an additional 171 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Inari Medical by 139.7% in the third quarter. Nisa Investment Advisors LLC now owns 1,189 shares of the company’s stock valued at $78,000 after buying an additional 693 shares during the period. IFP Advisors Inc lifted its holdings in shares of Inari Medical by 35.7% in the third quarter. IFP Advisors Inc now owns 1,939 shares of the company’s stock valued at $127,000 after buying an additional 510 shares during the period. Handelsinvest Investeringsforvaltning acquired a new stake in shares of Inari Medical in the fourth quarter valued at $185,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Inari Medical in the third quarter valued at $204,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Inari Medical Trading Up 2.9 %

NASDAQ:NARI opened at $38.18 on Thursday. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -1,272.67 and a beta of 0.84. Inari Medical, Inc. has a 1-year low of $36.73 and a 1-year high of $71.85. The business’s fifty day moving average price is $46.08 and its 200 day moving average price is $54.77.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings results 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). The business had revenue of $132.10 million for the quarter, compared to analyst estimates of $131.82 million. Inari Medical had a negative net margin of 0.33% and a positive return on equity of 1.23%. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.11) earnings per share. Equities analysts forecast that Inari Medical, Inc. will post -0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NARI has been the subject of several analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $75.00 target price on shares of Inari Medical in a report on Friday, April 12th. Truist Financial reduced their target price on Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Piper Sandler downgraded Inari Medical from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $85.00 to $55.00 in a report on Thursday, February 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 target price on shares of Inari Medical in a report on Wednesday, March 6th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.71.

Insiders Place Their Bets

In other Inari Medical news, Director William Hoffman sold 1,451 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $40.00, for a total value of $58,040.00. Following the transaction, the director now directly owns 999,782 shares of the company’s stock, valued at approximately $39,991,280. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director William Hoffman sold 1,451 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $40.00, for a total transaction of $58,040.00. Following the transaction, the director now owns 999,782 shares of the company’s stock, valued at approximately $39,991,280. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mitch C. Hill sold 6,000 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $40.96, for a total value of $245,760.00. Following the transaction, the chief financial officer now directly owns 181,294 shares in the company, valued at approximately $7,425,802.24. The disclosure for this sale can be found here. Insiders have sold a total of 47,451 shares of company stock valued at $1,949,000 in the last three months. Insiders own 10.60% of the company’s stock.

Inari Medical Company 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.