Thrivent Financial for Lutherans Reduces Stake in Inari Medical, Inc. (NASDAQ:NARI)

Thrivent Financial for Lutherans trimmed its position in Inari Medical, Inc. (NASDAQ:NARI) by 3.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,954 shares of the company’s stock after selling 1,511 shares during the period. Thrivent Financial for Lutherans owned about 0.07% of Inari Medical worth $2,068,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in NARI. Vanguard Group Inc. boosted its holdings in shares of Inari Medical by 11.1% in the first quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock worth $268,681,000 after buying an additional 561,562 shares during the last quarter. First Light Asset Management LLC purchased a new position in shares of Inari Medical during the 1st quarter worth $10,265,000. American Century Companies Inc. grew its position in shares of Inari Medical by 26.8% during the 2nd quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock valued at $47,231,000 after acquiring an additional 207,485 shares during the period. Peregrine Capital Management LLC purchased a new stake in shares of Inari Medical in the 2nd quarter worth $8,664,000. Finally, Bamco Inc. NY raised its holdings in Inari Medical by 27.4% in the 1st quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock worth $37,288,000 after purchasing an additional 167,000 shares during the period. 90.98% of the stock is currently owned by institutional investors.

Inari Medical Stock Down 1.5 %

Inari Medical stock opened at $40.63 on Wednesday. Inari Medical, Inc. has a 52-week low of $36.73 and a 52-week high of $69.40. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -99.10 and a beta of 1.00. The firm’s fifty day moving average is $46.32 and its 200 day moving average is $46.12.

Inari Medical (NASDAQ:NARI) last announced 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). The business had revenue of $145.82 million for the quarter, compared to analysts’ expectations 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 research analysts anticipate that Inari Medical, Inc. will post -0.7 earnings per share for the current fiscal year.

Insider Activity

In related news, Director William Hoffman sold 60,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $56.74, for a total transaction of $3,404,400.00. Following the sale, the director now owns 743,296 shares in the company, valued at approximately $42,174,615.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Inari Medical news, Director William Hoffman sold 60,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $56.74, for a total transaction of $3,404,400.00. Following the transaction, the director now owns 743,296 shares in the company, valued at $42,174,615.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 455,252 shares of the company’s stock, valued at approximately $25,143,567.96. The disclosure for this sale can be found here. Insiders sold 132,520 shares of company stock valued at $6,958,467 in the last ninety days. Insiders own 10.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on NARI shares. Robert W. Baird cut their price target on Inari Medical from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Stifel Nicolaus started coverage on Inari Medical in a research note on Tuesday, September 17th. They set a “hold” rating and a $50.00 price objective for the company. Leerink Partners initiated coverage on shares of Inari Medical in a report on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 target price for the company. Canaccord Genuity Group raised their price target on Inari Medical from $55.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a research note on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.