Inari Medical, Inc. (NASDAQ:NARI) is Vestal Point Capital LP's 4th Largest Position

Vestal Point Capital LP increased its stake in shares of Inari Medical, Inc. (NASDAQ:NARI - Free Report) by 342.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,550,000 shares of the company's stock after acquiring an additional 1,200,000 shares during the period. Inari Medical comprises approximately 4.8% of Vestal Point Capital LP's investment portfolio, making the stock its 4th largest holding. Vestal Point Capital LP owned 2.65% of Inari Medical worth $63,922,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NARI. Quantbot Technologies LP acquired a new stake in Inari Medical during the third quarter worth approximately $1,248,000. 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. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Inari Medical during the 3rd quarter valued at $1,397,000. Algert Global LLC grew its holdings in shares of Inari Medical by 38.2% during the third quarter. Algert Global LLC now owns 44,106 shares of the company's stock worth $1,819,000 after purchasing an additional 12,180 shares during the last quarter. Finally, Cerity Partners LLC increased its position in Inari Medical by 2.8% in the 3rd quarter. Cerity Partners LLC now owns 24,056 shares of the company's stock valued at $992,000 after acquiring an additional 652 shares during the period. Institutional investors and hedge funds own 90.98% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on NARI. Needham & Company LLC reaffirmed a "hold" rating on shares of Inari Medical in a report on Tuesday, October 29th. Piper Sandler upped their target price on Inari Medical from $50.00 to $52.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Canaccord Genuity Group raised their price target on shares of Inari Medical from $71.00 to $74.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft started coverage on shares of Inari Medical in a research note on Friday, August 9th. They issued a "buy" rating and a $68.00 price objective on the stock. Finally, Stifel Nicolaus started coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They set a "hold" rating and a $50.00 target price for the company. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $58.89.

Insider Activity

In other news, CFO Mitch C. Hill sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $45.13, for a total value of $135,390.00. Following the transaction, the chief financial officer now owns 179,600 shares in the company, valued at $8,105,348. The trade was a 1.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.83, for a total transaction of $1,833,200.00. Following the completion of the sale, the director now directly owns 643,296 shares in the company, valued at $29,482,255.68. This trade represents a 5.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 186,000 shares of company stock worth $8,990,990 in the last three months. Company insiders own 10.60% of the company's stock.

Inari Medical Stock Up 1.7 %

NARI traded up $0.89 during midday trading on Friday, hitting $51.92. The company had a trading volume of 287,786 shares, compared to its average volume of 980,317. The stock's 50 day moving average price is $46.14 and its 200 day moving average price is $47.48. Inari Medical, Inc. has a 52 week low of $36.73 and a 52 week high of $67.13. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of -37.80 and a beta of 0.96.

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.