The Manufacturers Life Insurance Company Boosts Stock Position in Inari Medical, Inc. (NASDAQ:NARI)

The Manufacturers Life Insurance Company grew its position in Inari Medical, Inc. (NASDAQ:NARI - Free Report) by 101.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 795,099 shares of the company's stock after acquiring an additional 400,198 shares during the quarter. The Manufacturers Life Insurance Company owned about 1.36% of Inari Medical worth $32,790,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NARI. GAMMA Investing LLC boosted its holdings in shares of Inari Medical by 164.7% during the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company's stock worth $34,000 after purchasing an additional 438 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Inari Medical by 83.5% during the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company's stock worth $46,000 after buying an additional 435 shares during the last quarter. KBC Group NV grew its holdings in Inari Medical by 39.0% in 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. Benjamin F. Edwards & Company Inc. increased its stake in shares of 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 during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Inari Medical in the 2nd quarter worth $104,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Inari Medical

In related news, CEO Andrew Hykes sold 3,000 shares of the business's stock in a transaction 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 transaction, the chief executive officer now directly owns 445,310 shares of the company's stock, valued at $22,265,500. The trade was a 0.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William Hoffman sold 60,000 shares of the stock in a transaction dated 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 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. Insiders sold a total of 186,000 shares of company stock valued at $8,990,990 in the last three months. 10.60% of the stock is owned by corporate insiders.

Inari Medical Price Performance

Shares of NARI stock traded up $0.89 on Friday, hitting $51.92. The stock had a trading volume of 287,786 shares, compared to its average volume of 980,317. The company's 50 day moving average price is $46.31 and its 200-day moving average price is $47.52. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year 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.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NARI shares. Piper Sandler upped their price objective on shares of Inari Medical from $50.00 to $52.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Needham & Company LLC reissued a "hold" rating on shares of Inari Medical in a research note on Tuesday, October 29th. Stifel Nicolaus assumed coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They set a "hold" rating and a $50.00 price target on the stock. Robert W. Baird increased their price objective on Inari Medical from $66.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. Finally, Leerink Partnrs upgraded Inari Medical to a "hold" rating in a research report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus 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.