Teachers Retirement System of The State of Kentucky boosted its stake in shares of Inari Medical, Inc. (NASDAQ:NARI – Get Rating) by 115.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,856 shares of the company's stock after purchasing an additional 26,182 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.09% of Inari Medical worth $4,428,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in shares of Inari Medical by 46.8% during the 1st quarter. Wellington Management Group LLP now owns 4,626,607 shares of the company's stock valued at $419,355,000 after purchasing an additional 1,475,313 shares during the period. Vanguard Group Inc. raised its position in shares of Inari Medical by 13.4% during the 1st quarter. Vanguard Group Inc. now owns 3,518,646 shares of the company's stock valued at $318,930,000 after purchasing an additional 416,425 shares during the period. Alliancebernstein L.P. raised its position in shares of Inari Medical by 17.2% during the 4th quarter. Alliancebernstein L.P. now owns 2,777,274 shares of the company's stock valued at $253,482,000 after purchasing an additional 407,400 shares during the period. Point72 Asset Management L.P. raised its position in shares of Inari Medical by 369.1% during the 4th quarter. Point72 Asset Management L.P. now owns 447,500 shares of the company's stock valued at $40,843,000 after purchasing an additional 352,100 shares during the period. Finally, Capital International Investors raised its position in shares of Inari Medical by 13.7% during the 4th quarter. Capital International Investors now owns 2,815,886 shares of the company's stock valued at $257,006,000 after purchasing an additional 338,948 shares during the period. 84.11% of the stock is currently owned by institutional investors.
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Inari Medical Price Performance
Shares of NARI opened at $69.60 on Monday. Inari Medical, Inc. has a 1-year low of $50.50 and a 1-year high of $100.00. The company has a 50-day moving average of $75.43 and a 200 day moving average of $75.39. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of -240.00 and a beta of 1.49.
Inari Medical (NASDAQ:NARI – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.23) by $0.04. Inari Medical had a negative net
margin of 4.47% and a negative return on equity of 4.60%. The company had revenue of $92.74 million during the quarter, compared to analyst estimates of $88.04 million. On average, equities analysts anticipate that Inari Medical, Inc. will post -0.67 earnings per share for the current fiscal year.
Insider Activity at Inari Medical
In related news, COO Andrew Hykes sold 5,000 shares of Inari Medical stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $70.31, for a total transaction of $351,550.00. Following the completion of the sale, the chief operating officer now owns 140,991 shares in the company, valued at approximately $9,913,077.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Donald B. Milder sold 21,000 shares of the business's stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $80.44, for a total value of $1,689,240.00. Following the completion of the sale, the director now owns 3,423,614 shares in the company, valued at approximately $275,395,510.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Andrew Hykes sold 5,000 shares of the business's stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $70.31, for a total transaction of $351,550.00. Following the completion of the sale, the chief operating officer now owns 140,991 shares of the company's stock, valued at approximately $9,913,077.21. The disclosure for this sale can be found here. Insiders sold 155,204 shares of company stock worth $11,677,586 in the last 90 days. 11.90% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on NARI. BTIG Research cut their target price on shares of Inari Medical from $130.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, June 24th. Canaccord Genuity Group lifted their price objective on shares of Inari Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday. Canaccord Genuity Group lifted their price objective on shares of Inari Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday. Piper Sandler began coverage on shares of Inari Medical in a research note on Tuesday, June 21st. They issued an "overweight" rating and a $100.00 price objective for the company. Finally, Morgan Stanley dropped their price objective on shares of Inari Medical from $108.00 to $93.00 and set an "overweight" rating for the company in a research note on Friday, July 15th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $94.71.
About Inari Medical
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Inari Medical, Inc, a medical device company, develops, manufactures, markets, and sells devices for the interventional treatment of venous diseases in the United States. The company provides ClotTriever, a mechanical thrombectomy system, which is designed to core, capture, and remove large clots from large vessels, as well as for treatment of deep vein thrombosis; and FlowTriever, a large bore catheter-based aspiration and mechanical thrombectomy system, for treatment of pulmonary embolism.
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