Jennison Associates LLC Purchases 610,468 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Jennison Associates LLC boosted its holdings in shares of Inari Medical, Inc. (NASDAQ:NARI - Free Report) by 63.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,576,641 shares of the company's stock after buying an additional 610,468 shares during the period. Jennison Associates LLC owned approximately 2.69% of Inari Medical worth $65,021,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Inari Medical by 11.1% during the first quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company's stock valued at $268,681,000 after purchasing an additional 561,562 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Inari Medical by 113.3% in the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company's stock worth $71,324,000 after buying an additional 786,691 shares in the last quarter. Armistice Capital LLC grew its position in 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 acquiring an additional 786,501 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Inari Medical by 26.8% during the second quarter. American Century Companies Inc. now owns 980,917 shares of the company's stock worth $47,231,000 after acquiring an additional 207,485 shares in the last quarter. Finally, Bamco Inc. NY lifted its holdings in shares of Inari Medical by 27.4% in the 1st quarter. Bamco Inc. NY now owns 777,152 shares of the company's stock worth $37,288,000 after acquiring an additional 167,000 shares during the last quarter. Institutional investors own 90.98% of the company's stock.

Inari Medical Price Performance

Shares of NASDAQ NARI opened at $49.00 on Thursday. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $67.13. The company's 50-day moving average is $45.52 and its 200 day moving average is $47.19. The stock has a market capitalization of $2.87 billion, a P/E ratio of -36.30 and a beta of 0.96.

Insider Buying and Selling

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of Inari Medical 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 owns 445,310 shares in the company, valued at approximately $22,265,500. The trade was a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total value of $1,800,800.00. Following the completion of the transaction, the director now directly owns 601,233 shares of the company's stock, valued at approximately $27,067,509.66. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 186,000 shares of company stock valued at $8,990,990 over the last ninety days. Company insiders own 10.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Inari Medical in a report on Tuesday, October 29th. Piper Sandler boosted their target price on Inari Medical from $50.00 to $52.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Leerink Partnrs upgraded Inari Medical to a "hold" rating in a research report on Tuesday, September 3rd. Stifel Nicolaus initiated coverage on Inari Medical in a research note on Tuesday, September 17th. They issued a "hold" rating and a $50.00 price target on the stock. Finally, Leerink Partners started coverage on Inari Medical in a research note on Tuesday, September 3rd. They set a "market perform" rating and a $47.00 price objective for the company. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Inari Medical presently has a consensus rating of "Hold" and an average price target of $58.89.

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.

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