Jennison Associates LLC Buys 186,617 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Jennison Associates LLC raised its position in Inari Medical, Inc. (NASDAQ:NARI - Free Report) by 11.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,763,258 shares of the company's stock after buying an additional 186,617 shares during the period. Jennison Associates LLC owned 3.01% of Inari Medical worth $90,014,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Inari Medical in the 4th quarter worth approximately $45,000. GAMMA Investing LLC raised its position in Inari Medical by 67.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the company's stock valued at $49,000 after purchasing an additional 473 shares during the last quarter. KBC Group NV boosted its stake in Inari Medical by 39.0% in the third quarter. KBC Group NV now owns 1,774 shares of the company's stock worth $73,000 after purchasing an additional 498 shares in the last quarter. Covestor Ltd grew its holdings in shares of Inari Medical by 63.5% during the third quarter. Covestor Ltd now owns 2,384 shares of the company's stock worth $99,000 after purchasing an additional 926 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new stake in shares of Inari Medical in the third quarter valued at $128,000. 90.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NARI. Robert W. Baird reiterated a "neutral" rating and set a $80.00 price target (down previously from $81.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Piper Sandler upped their target price on shares of Inari Medical from $52.00 to $80.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. Truist Financial raised their price target on shares of Inari Medical from $50.00 to $63.00 and gave the company a "hold" rating in a report on Wednesday, December 18th. Oppenheimer assumed coverage on Inari Medical in a report on Tuesday, December 17th. They set an "outperform" rating and a $75.00 price objective on the stock. Finally, Wells Fargo & Company reissued an "equal weight" rating and issued a $80.00 target price (up from $65.00) on shares of Inari Medical in a research note on Tuesday, January 7th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $68.00.

Insiders Place Their Bets

In related news, Director William Hoffman sold 60,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 501,233 shares in the company, valued at $25,643,080.28. This trade represents a 10.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew Hykes sold 3,000 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $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 quarter, insiders have sold 323,000 shares of company stock worth $18,669,070. Insiders own 10.60% of the company's stock.

Inari Medical Stock Down 0.1 %

Shares of Inari Medical stock traded down $0.11 during trading on Friday, reaching $79.76. 1,079,682 shares of the company were exchanged, compared to its average volume of 4,051,944. The business has a 50-day moving average price of $65.69 and a 200-day moving average price of $53.26. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of -59.08 and a beta of 1.02. Inari Medical, Inc. has a twelve month low of $36.73 and a twelve month high of $79.93.

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.