Inari Medical, Inc. (NASDAQ:NARI) Stock Position Reduced by State Street Corp

State Street Corp lessened its holdings in Inari Medical, Inc. (NASDAQ:NARI - Free Report) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,035,602 shares of the company's stock after selling 22,700 shares during the period. State Street Corp owned 3.48% of Inari Medical worth $83,948,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NARI. Vestal Point Capital LP lifted its stake in Inari Medical by 342.9% in the 3rd quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company's stock valued at $63,922,000 after buying an additional 1,200,000 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of 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 acquiring an additional 786,691 shares during the last quarter. Armistice Capital LLC lifted its position in shares of Inari Medical by 353.1% in 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 in the last quarter. Jennison Associates LLC boosted its stake in shares of Inari Medical by 63.2% during the third quarter. Jennison Associates LLC now owns 1,576,641 shares of the company's stock valued at $65,021,000 after acquiring an additional 610,468 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Inari Medical by 101.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company's stock worth $32,790,000 after purchasing an additional 400,198 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Inari Medical in a research note on Tuesday, October 29th. Robert W. Baird raised their target price on shares of Inari Medical from $66.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. Truist Financial boosted their price target on Inari Medical from $46.00 to $50.00 and gave the company a "hold" rating in a report on Tuesday, October 29th. Leerink Partnrs upgraded Inari Medical to a "hold" rating in a report on Tuesday, September 3rd. Finally, Canaccord Genuity Group lifted their price objective on Inari Medical from $71.00 to $74.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $60.50.

Insider Activity at Inari Medical

In other Inari Medical news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the sale, the director now directly owns 601,233 shares in the company, valued at $27,067,509.66. The trade was a 6.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total value of $150,000.00. Following the transaction, the chief executive officer now owns 445,310 shares of the company's stock, valued at approximately $22,265,500. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 143,000 shares of company stock valued at $7,022,400. Corporate insiders own 10.60% of the company's stock.

Inari Medical Stock Performance

Inari Medical stock traded down $0.59 during trading on Tuesday, reaching $56.16. 1,423,653 shares of the company's stock were exchanged, compared to its average volume of 991,600. Inari Medical, Inc. has a 52-week low of $36.73 and a 52-week high of $67.10. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of -41.60 and a beta of 0.97. The company's 50-day moving average is $49.03 and its two-hundred day moving average is $47.99.

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.