Motley Fool Wealth Management LLC Lowers Holdings in Inari Medical, Inc. (NASDAQ:NARI)

Motley Fool Wealth Management LLC decreased its holdings in shares of Inari Medical, Inc. (NASDAQ:NARI) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 131,340 shares of the company’s stock after selling 7,414 shares during the period. Motley Fool Wealth Management LLC owned approximately 0.23% of Inari Medical worth $8,529,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NARI. Fifth Third Bancorp increased its position in shares of Inari Medical by 54.3% during the 3rd 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. New York State Teachers Retirement System raised its stake in shares of Inari Medical by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 53,924 shares of the company’s stock worth $3,501,000 after acquiring an additional 233 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Inari Medical by 11.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 3,987 shares of the company’s stock worth $261,000 after acquiring an additional 417 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Inari Medical by 35.7% during the 3rd quarter. IFP Advisors Inc now owns 1,939 shares of the company’s stock valued at $127,000 after purchasing an additional 510 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Inari Medical by 3.8% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 15,276 shares of the company’s stock worth $999,000 after purchasing an additional 560 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Inari Medical

In other Inari Medical news, Director William Hoffman sold 1,451 shares of the business’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 completion of 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 available through this link. In other news, Director William Hoffman sold 1,451 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $40.00, for a total value of $58,040.00. Following the transaction, the director now owns 999,782 shares in the company, valued at approximately $39,991,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mitch C. Hill sold 6,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 181,294 shares in the company, valued at $7,425,802.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,451 shares of company stock valued at $1,949,000. 10.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on NARI. 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. Truist Financial decreased their price target on Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Canaccord Genuity Group reissued a “buy” rating and issued a $75.00 price target on shares of Inari Medical in a report on Friday, April 12th. Finally, Piper Sandler downgraded shares of Inari Medical from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $55.00 in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Inari Medical has an average rating of “Moderate Buy” and a consensus target price of $73.71.

Inari Medical Stock Up 0.9 %

Shares of NASDAQ NARI traded up $0.35 on Friday, reaching $38.42. 1,115,381 shares of the company’s stock traded hands, compared to its average volume of 981,529. The business’s 50 day simple moving average is $44.86 and its two-hundred day simple moving average is $54.24. Inari Medical, Inc. has a 12 month low of $36.73 and a 12 month high of $71.85. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -1,280.67 and a beta of 0.84.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 previous year, the firm posted ($0.11) EPS. The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. Analysts forecast that Inari Medical, Inc. will post -0.25 earnings per share for the current fiscal year.

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.