Intech Investment Management LLC Invests $716,000 in Inari Medical, Inc. (NASDAQ:NARI)

Intech Investment Management LLC bought a new position in Inari Medical, Inc. (NASDAQ:NARI - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,365 shares of the company's stock, valued at approximately $716,000.

A number of other institutional investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. lifted its position in Inari Medical by 113.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company's stock valued at $71,324,000 after acquiring an additional 786,691 shares in the last quarter. Armistice Capital LLC lifted its holdings in shares of Inari Medical by 353.1% during the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company's stock valued at $48,595,000 after purchasing an additional 786,501 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Inari Medical by 63.2% during the third quarter. Jennison Associates LLC now owns 1,576,641 shares of the company's stock valued at $65,021,000 after purchasing an additional 610,468 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Inari Medical by 1,219.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 394,901 shares of the company's stock worth $19,014,000 after buying an additional 364,983 shares in the last quarter. Finally, First Light Asset Management LLC raised its position in Inari Medical by 120.8% in the 2nd quarter. First Light Asset Management LLC now owns 472,384 shares of the company's stock worth $22,745,000 after buying an additional 258,444 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company's stock.

Inari Medical Stock Performance

Shares of NASDAQ NARI traded up $0.89 during trading on Friday, hitting $51.92. The company had a trading volume of 287,786 shares, compared to its average volume of 980,317. Inari Medical, Inc. has a 12 month low of $36.73 and a 12 month high of $67.13. The firm has a market capitalization of $3.04 billion, a P/E ratio of -38.46 and a beta of 0.96. The stock has a 50 day simple moving average of $46.31 and a 200 day simple moving average of $47.52.

Insider Buying and Selling

In related news, Director William Hoffman sold 60,000 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $51.16, for a total value of $3,069,600.00. Following the completion of the transaction, the director now owns 501,233 shares of the company's stock, valued at $25,643,080.28. The trade was a 10.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mitch C. Hill sold 3,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $45.13, for a total value of $135,390.00. Following the sale, the chief financial officer now directly owns 179,600 shares in the company, valued at $8,105,348. This trade represents a 1.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 186,000 shares of company stock valued at $8,990,990 over the last three months. 10.60% of the stock is owned by company insiders.

Analyst Ratings Changes

NARI has been the subject of a number of research analyst reports. Leerink Partners initiated coverage on shares of Inari Medical in a research note on Tuesday, September 3rd. They issued a "market perform" rating and a $47.00 price target for the company. Piper Sandler lifted their target price on shares of Inari Medical from $50.00 to $52.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. Needham & Company LLC reissued a "hold" rating on shares of Inari Medical in a report on Tuesday, October 29th. Stifel Nicolaus began coverage on Inari Medical in a report on Tuesday, September 17th. They issued a "hold" rating and a $50.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Inari Medical in a report on Friday, August 9th. They issued a "buy" rating and a $68.00 target price on the stock. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Inari Medical presently has a consensus rating of "Hold" and a consensus price target of $58.89.

Inari Medical 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.