Brown Capital Management LLC Decreases Position in Inari Medical, Inc. (NASDAQ:NARI)

Brown Capital Management LLC decreased its position in shares of Inari Medical, Inc. (NASDAQ:NARI - Free Report) by 13.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 420,879 shares of the company's stock after selling 64,035 shares during the quarter. Brown Capital Management LLC owned 0.72% of Inari Medical worth $17,357,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NARI. GAMMA Investing LLC boosted its position in Inari Medical by 164.7% during the second quarter. GAMMA Investing LLC now owns 704 shares of the company's stock worth $34,000 after purchasing an additional 438 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Inari Medical by 83.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company's stock valued at $46,000 after buying an additional 435 shares in the last quarter. KBC Group NV lifted its position in shares of Inari Medical by 39.0% during the 3rd quarter. KBC Group NV now owns 1,774 shares of the company's stock valued at $73,000 after buying an additional 498 shares in the last quarter. Covestor Ltd grew its stake in Inari Medical by 30.2% in the 1st quarter. Covestor Ltd now owns 1,619 shares of the company's stock valued at $78,000 after acquiring an additional 376 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Inari Medical by 39.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company's stock worth $89,000 after acquiring an additional 522 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Inari Medical Stock Up 1.6 %

Shares of NARI traded up $0.80 during midday trading on Thursday, reaching $49.80. The company had a trading volume of 394,029 shares, compared to its average volume of 983,757. Inari Medical, Inc. has a 1-year low of $36.73 and a 1-year high of $67.13. The firm has a 50 day simple moving average of $45.52 and a 200-day simple moving average of $47.19. The stock has a market cap of $2.92 billion, a PE ratio of -37.07 and a beta of 0.96.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NARI. Stifel Nicolaus initiated coverage on shares of Inari Medical in a report on Tuesday, September 17th. They set a "hold" rating and a $50.00 price objective on the stock. William Blair initiated coverage on Inari Medical in a report on Thursday, July 25th. They issued an "outperform" rating on the stock. Robert W. Baird increased their target price on Inari Medical from $66.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Piper Sandler lifted their price target on Inari Medical from $50.00 to $52.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Inari Medical in a research note on Friday, August 9th. They issued a "buy" rating and a $68.00 price objective for the company. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $58.89.

Insider Buying and Selling

In other Inari Medical news, CFO Mitch C. Hill sold 3,000 shares of Inari Medical stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $45.13, for a total transaction of $135,390.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Hoffman sold 60,000 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $51.16, for a total transaction of $3,069,600.00. Following the sale, the director now directly owns 501,233 shares in the company, valued at $25,643,080.28. This represents a 10.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,000 shares of company stock worth $8,990,990. Insiders own 10.60% of the company's stock.

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.