Edgestream Partners L.P. Purchases Shares of 18,808 Inari Medical, Inc. (NASDAQ:NARI)

Edgestream Partners L.P. bought a new stake in shares of Inari Medical, Inc. (NASDAQ:NARI - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 18,808 shares of the company's stock, valued at approximately $776,000.

Several other large investors also recently modified their holdings of NARI. Vestal Point Capital LP boosted its holdings in Inari Medical by 342.9% in the third quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company's stock valued at $63,922,000 after purchasing an additional 1,200,000 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Inari Medical by 113.3% during 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 buying an additional 786,691 shares during the last quarter. Armistice Capital LLC grew its position 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 worth $48,595,000 after buying an additional 786,501 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Inari Medical by 63.2% in the third quarter. Jennison Associates LLC now owns 1,576,641 shares of the company's stock worth $65,021,000 after buying an additional 610,468 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Inari Medical by 101.3% in the third quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company's stock valued at $32,790,000 after acquiring an additional 400,198 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the sale, the chief executive officer now owns 445,310 shares of the company's stock, valued at $22,265,500. This represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.83, for a total transaction of $1,833,200.00. Following the completion of the transaction, the director now directly owns 643,296 shares in the company, valued at approximately $29,482,255.68. This represents a 5.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 186,000 shares of company stock worth $8,990,990. Insiders own 10.60% of the company's stock.

Inari Medical Stock Performance

Shares of NASDAQ NARI traded down $0.64 during mid-day trading on Thursday, reaching $51.56. The company had a trading volume of 1,370,955 shares, compared to its average volume of 978,039. Inari Medical, Inc. has a 12-month low of $36.73 and a 12-month high of $67.13. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of -38.19 and a beta of 0.97. The stock has a fifty day moving average of $46.88 and a two-hundred day moving average of $47.65.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NARI. Piper Sandler raised their price objective on shares of Inari Medical from $50.00 to $52.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. Robert W. Baird boosted their price objective on Inari Medical from $66.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Needham & Company LLC reaffirmed a "hold" rating on shares of Inari Medical in a report on Tuesday, October 29th. Leerink Partners started coverage on Inari Medical in a research report on Tuesday, September 3rd. They issued a "market perform" rating and a $47.00 target price for the company. Finally, Canaccord Genuity Group upped their price target on Inari Medical from $71.00 to $74.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $58.89.

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.