Quest Partners LLC Purchases 2,188 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Quest Partners LLC raised its position in shares of Inari Medical, Inc. (NASDAQ:NARI) by 31,257.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,195 shares of the company’s stock after purchasing an additional 2,188 shares during the period. Quest Partners LLC’s holdings in Inari Medical were worth $106,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Inari Medical by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company’s stock valued at $38,693,000 after acquiring an additional 41,555 shares in the last quarter. Norges Bank purchased a new stake in shares of Inari Medical in the 4th quarter worth approximately $29,491,000. Motley Fool Asset Management LLC boosted its stake in shares of Inari Medical by 46.2% during the first quarter. Motley Fool Asset Management LLC now owns 64,677 shares of the company’s stock valued at $3,103,000 after purchasing an additional 20,438 shares in the last quarter. Bamco Inc. NY increased its holdings in Inari Medical by 27.4% during the first quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock valued at $37,288,000 after buying an additional 167,000 shares during the period. Finally, Point72 Europe London LLP raised its stake in Inari Medical by 91.8% in the fourth quarter. Point72 Europe London LLP now owns 332,202 shares of the company’s stock worth $21,567,000 after buying an additional 158,997 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Inari Medical Stock Performance

Shares of NARI stock opened at $46.25 on Tuesday. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $69.40. The stock’s 50-day simple moving average is $48.85 and its 200-day simple moving average is $46.11. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -112.80 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last issued its quarterly earnings results on Tuesday, July 30th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.25). The firm had revenue of $145.82 million for the quarter, compared to analyst estimates of $143.96 million. Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. As a group, equities analysts forecast that Inari Medical, Inc. will post -0.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NARI shares. Canaccord Genuity Group upped their target price on Inari Medical from $55.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Leerink Partners assumed coverage on Inari Medical in a research note on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price objective for the company. Leerink Partnrs upgraded Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Piper Sandler reissued a “neutral” rating and set a $50.00 price target on shares of Inari Medical in a research report on Monday, August 26th. Finally, William Blair initiated coverage on shares of Inari Medical in a research report on Thursday, July 25th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Inari Medical presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.50.

Insider Activity at Inari Medical

In other Inari Medical news, Director William Hoffman sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $50.15, for a total transaction of $1,003,000.00. Following the completion of the transaction, the director now directly owns 805,359 shares of the company’s stock, valued at approximately $40,388,753.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $55.23, for a total transaction of $165,690.00. Following the sale, the chief executive officer now directly owns 455,252 shares of the company’s stock, valued at approximately $25,143,567.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Hoffman sold 20,000 shares of Inari Medical stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $50.15, for a total value of $1,003,000.00. Following the transaction, the director now owns 805,359 shares of the company’s stock, valued at approximately $40,388,753.85. The disclosure for this sale can be found here. Insiders have sold a total of 115,780 shares of company stock worth $6,290,464 over the last quarter. Insiders own 10.60% of the company’s stock.

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.