Texas Permanent School Fund Corp Sells 6,497 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Texas Permanent School Fund Corp trimmed its position in shares of Inari Medical, Inc. (NASDAQ:NARI) by 14.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,361 shares of the company’s stock after selling 6,497 shares during the quarter. Texas Permanent School Fund Corp owned 0.07% of Inari Medical worth $1,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Inari Medical during the 1st quarter valued at $30,000. GAMMA Investing LLC lifted its holdings in shares of Inari Medical by 164.7% during the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after buying an additional 438 shares during the period. Nisa Investment Advisors LLC raised its holdings in Inari Medical by 83.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after purchasing an additional 435 shares during the period. Covestor Ltd raised its holdings in Inari Medical by 30.2% in the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after purchasing an additional 376 shares during the period. Finally, Quest Partners LLC raised its holdings in Inari Medical by 31,257.1% in the 2nd quarter. Quest Partners LLC now owns 2,195 shares of the company’s stock worth $106,000 after purchasing an additional 2,188 shares during the period. 90.98% of the stock is owned by institutional investors.

Inari Medical Stock Up 0.6 %

NASDAQ:NARI opened at $44.38 on Thursday. The business’s 50-day simple moving average is $48.44 and its two-hundred day simple moving average is $46.09. The stock has a market cap of $2.58 billion, a PE ratio of -108.24 and a beta of 1.00. Inari Medical, Inc. has a 52 week low of $36.73 and a 52 week high of $69.40.

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

Insider Transactions at Inari Medical

In other news, Director William Hoffman sold 20,000 shares of Inari Medical stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $50.15, for a total value of $1,003,000.00. Following the sale, the director now directly owns 805,359 shares of the company’s stock, valued at $40,388,753.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director William Hoffman sold 20,000 shares of Inari Medical stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $50.15, for a total value of $1,003,000.00. Following the sale, the director now directly owns 805,359 shares of the company’s stock, valued at $40,388,753.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $50.08, for a total value of $150,240.00. Following the completion of the sale, the chief executive officer now directly owns 462,474 shares in the company, valued at $23,160,697.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,780 shares of company stock valued at $8,123,664. 10.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NARI. Wells Fargo & Company decreased their target price on Inari Medical from $84.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Truist Financial reaffirmed a “hold” rating and issued a $55.00 target price (down from $60.00) on shares of Inari Medical in a report on Wednesday, July 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Inari Medical in a report on Monday, August 26th. Leerink Partnrs raised Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Finally, Leerink Partners initiated coverage on Inari Medical in a report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price target on the stock. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $58.44.

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.