Rhumbline Advisers Trims Stake in Inari Medical, Inc. (NASDAQ:NARI)

Rhumbline Advisers decreased its holdings in Inari Medical, Inc. (NASDAQ:NARI - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 140,869 shares of the company's stock after selling 4,356 shares during the period. Rhumbline Advisers owned 0.24% of Inari Medical worth $7,191,000 at the end of the most recent reporting period.

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

Inari Medical Stock Performance

NARI stock remained flat at $79.97 during midday trading on Friday. Inari Medical, Inc. has a one year low of $36.73 and a one year high of $79.99. The firm's fifty day moving average price is $73.93 and its 200 day moving average price is $56.53. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of -59.24 and a beta of 1.02.

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Insider Buying and Selling at Inari Medical

In other news, Director William Hoffman sold 200,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $60.47, for a total value of $12,094,000.00. Following the sale, the director now directly owns 238,987 shares in the company, valued at approximately $14,451,543.89. This represents a 45.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $55.29, for a total value of $165,870.00. Following the completion of the sale, the chief executive officer now owns 439,310 shares in the company, valued at approximately $24,289,449.90. The trade was a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 263,000 shares of company stock worth $15,599,470 over the last ninety days. Company insiders own 10.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NARI. Baird R W lowered Inari Medical from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. BTIG Research reissued a "neutral" rating on shares of Inari Medical in a research note on Wednesday, January 8th. William Blair reissued a "market perform" rating on shares of Inari Medical in a research note on Tuesday, January 7th. Canaccord Genuity Group reissued a "hold" rating and set a $80.00 price target (up from $74.00) on shares of Inari Medical in a research note on Tuesday, January 7th. Finally, Truist Financial increased their price target on Inari Medical from $50.00 to $63.00 and gave the company a "hold" rating in a research note on Wednesday, December 18th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $68.00.

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.