Principal Financial Group Inc. Purchases 15,368 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Principal Financial Group Inc. grew its stake in shares of Inari Medical, Inc. (NASDAQ:NARI - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 308,903 shares of the company's stock after buying an additional 15,368 shares during the quarter. Principal Financial Group Inc. owned approximately 0.53% of Inari Medical worth $15,769,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aigen Investment Management LP bought a new stake in shares of Inari Medical during the third quarter worth $428,000. Vestal Point Capital LP lifted its holdings in shares of Inari Medical by 342.9% during the third quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company's stock worth $63,922,000 after purchasing an additional 1,200,000 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Inari Medical during the third quarter worth $1,397,000. Verition Fund Management LLC acquired a new position in shares of Inari Medical during the third quarter worth $1,235,000. Finally, Jane Street Group LLC lifted its holdings in shares of Inari Medical by 32.4% during the third quarter. Jane Street Group LLC now owns 95,223 shares of the company's stock worth $3,927,000 after purchasing an additional 23,286 shares during the period. Institutional investors own 90.98% of the company's stock.

Insider Activity

In other news, Director William Hoffman sold 60,000 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $55.66, for a total transaction of $3,339,600.00. Following the transaction, the director now owns 441,233 shares in the company, valued at approximately $24,559,028.78. This represents a 11.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Hykes sold 3,000 shares of the company's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $55.29, for a total transaction of $165,870.00. Following the transaction, the chief executive officer now owns 439,310 shares in the company, valued at $24,289,449.90. This represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 263,000 shares of company stock worth $15,599,470. Company insiders own 10.60% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of Inari Medical from $52.00 to $80.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Canaccord Genuity Group reiterated a "hold" rating and set a $80.00 price target (up previously from $74.00) on shares of Inari Medical in a report on Tuesday, January 7th. Truist Financial lifted their price target on shares of Inari Medical from $50.00 to $63.00 and gave the stock a "hold" rating in a report on Wednesday, December 18th. Baird R W lowered shares of Inari Medical from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, William Blair restated a "market perform" rating on shares of Inari Medical in a report on Tuesday, January 7th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $68.00.

Inari Medical Price Performance

Shares of NASDAQ NARI remained flat at $79.97 during trading on Friday. The company's 50-day simple moving average is $73.93 and its 200 day simple moving average is $56.53. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $79.99. The company has a market cap of $4.68 billion, a P/E ratio of -59.24 and a beta of 1.02.

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.