ProShare Advisors LLC Lowers Stock Holdings in Inari Medical, Inc. (NASDAQ:NARI)

ProShare Advisors LLC cut its holdings in shares of Inari Medical, Inc. (NASDAQ:NARI) by 33.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,200 shares of the company’s stock after selling 4,119 shares during the quarter. ProShare Advisors LLC’s holdings in Inari Medical were worth $395,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Motley Fool Asset Management LLC boosted its position in shares of Inari Medical by 46.2% in the first quarter. Motley Fool Asset Management LLC now owns 64,677 shares of the company’s stock worth $3,103,000 after acquiring an additional 20,438 shares during the last quarter. Bamco Inc. NY boosted its holdings in shares of Inari Medical by 27.4% in the 1st quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock valued at $37,288,000 after purchasing an additional 167,000 shares during the last quarter. Point72 Europe London LLP boosted its holdings in shares of Inari Medical by 91.8% in the 4th quarter. Point72 Europe London LLP now owns 332,202 shares of the company’s stock valued at $21,567,000 after purchasing an additional 158,997 shares during the last quarter. Maryland State Retirement & Pension System acquired a new stake in shares of Inari Medical during the 1st quarter worth $886,000. Finally, Vanguard Group Inc. increased its holdings in shares of Inari Medical by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 5,038,292 shares of the company’s stock worth $327,086,000 after buying an additional 325,586 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NARI shares. Wells Fargo & Company lowered their price target on Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Robert W. Baird dropped their target price on shares of Inari Medical from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Piper Sandler restated a “neutral” rating and issued a $50.00 price target on shares of Inari Medical in a report on Monday, August 26th. Leerink Partners began coverage on shares of 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. Finally, Leerink Partnrs raised shares of Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $58.44.

Insider Transactions at Inari Medical

In other Inari Medical news, CFO Mitch C. Hill sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $53.95, for a total transaction of $269,750.00. Following the sale, the chief financial officer now owns 179,227 shares in the company, valued at $9,669,296.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Mitch C. Hill sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $53.95, for a total value of $269,750.00. Following the transaction, the chief financial officer now directly owns 179,227 shares in the company, valued at approximately $9,669,296.65. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas Tu sold 16,520 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $55.09, for a total transaction of $910,086.80. Following the sale, the insider now directly owns 313,257 shares of the company’s stock, valued at approximately $17,257,328.13. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 132,520 shares of company stock valued at $6,958,467. Insiders own 10.60% of the company’s stock.

Inari Medical Stock Down 1.5 %

Shares of NARI opened at $40.63 on Wednesday. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of -99.10 and a beta of 1.00. The business’s 50 day moving average is $46.32 and its two-hundred day moving average is $46.12. Inari Medical, Inc. has a 52-week low of $36.73 and a 52-week high of $69.40.

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

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.