Vanguard Group Inc. Buys 325,586 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Vanguard Group Inc. raised its holdings in shares of Inari Medical, Inc. (NASDAQ:NARI - Free Report) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,038,292 shares of the company's stock after buying an additional 325,586 shares during the quarter. Vanguard Group Inc. owned about 8.69% of Inari Medical worth $327,086,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. D.A. Davidson & CO. boosted its stake in Inari Medical by 1.8% during the fourth quarter. D.A. Davidson & CO. now owns 10,570 shares of the company's stock worth $686,000 after buying an additional 188 shares during the period. New York State Teachers Retirement System lifted its position in shares of Inari Medical by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 53,924 shares of the company's stock worth $3,501,000 after purchasing an additional 233 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Inari Medical by 27.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company's stock worth $71,000 after purchasing an additional 236 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Inari Medical by 0.6% during the fourth quarter. Retirement Systems of Alabama now owns 64,100 shares of the company's stock worth $4,161,000 after purchasing an additional 366 shares in the last quarter. Finally, Spouting Rock Asset Management LLC lifted its stake in Inari Medical by 13.9% in the third quarter. Spouting Rock Asset Management LLC now owns 6,756 shares of the company's stock worth $442,000 after acquiring an additional 825 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company's stock.

Analyst Ratings Changes

NARI has been the subject of a number of recent research reports. Canaccord Genuity Group decreased their price target on shares of Inari Medical from $75.00 to $55.00 and set a "buy" rating for the company in a research note on Wednesday, May 1st. Truist Financial reduced their price objective on shares of Inari Medical from $61.00 to $52.00 and set a "hold" rating for the company in a research report on Friday, March 22nd. Piper Sandler reduced their price objective on shares of Inari Medical from $55.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, May 1st. Needham & Company LLC reduced their price objective on shares of Inari Medical from $72.00 to $57.00 and set a "buy" rating for the company in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company reduced their price objective on shares of Inari Medical from $100.00 to $84.00 and set an "overweight" rating for the company in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Inari Medical has an average rating of "Moderate Buy" and an average price target of $65.71.

Insider Buying and Selling

In other Inari Medical news, Director William Hoffman sold 60,000 shares of the company's stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $50.13, for a total value of $3,007,800.00. Following the transaction, the director now directly owns 865,359 shares in the company, valued at approximately $43,380,446.67. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Mitch C. Hill sold 6,000 shares of the company's stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $40.96, for a total transaction of $245,760.00. Following the completion of the transaction, the chief financial officer now owns 181,294 shares of the company's stock, valued at approximately $7,425,802.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William Hoffman sold 60,000 shares of the company's stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $50.13, for a total transaction of $3,007,800.00. Following the transaction, the director now directly owns 865,359 shares of the company's stock, valued at approximately $43,380,446.67. The disclosure for this sale can be found here. Insiders have sold 161,224 shares of company stock worth $7,514,191 in the last three months. Corporate insiders own 10.60% of the company's stock.

Inari Medical Stock Performance

NARI traded up $1.16 during trading on Friday, hitting $48.15. The stock had a trading volume of 1,025,753 shares, compared to its average volume of 631,257. The firm has a market capitalization of $2.80 billion, a P/E ratio of -117.44 and a beta of 1.02. The company's 50-day moving average price is $45.22 and its 200 day moving average price is $50.50. Inari Medical, Inc. has a twelve month low of $36.73 and a twelve month high of $71.85.

Inari Medical (NASDAQ:NARI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.15). Inari Medical had a negative return on equity of 1.65% and a negative net margin of 4.54%. The company had revenue of $143.19 million for the quarter, compared to analyst estimates of $138.32 million. As a group, equities analysts expect that Inari Medical, Inc. will post -0.41 earnings per share for the current fiscal year.

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.