Inari Medical, Inc. (NASDAQ:NARI) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in shares of Inari Medical, Inc. (NASDAQ:NARI) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 308,903 shares of the company’s stock after acquiring an additional 15,368 shares during the quarter. Principal Financial Group Inc. owned about 0.53% of Inari Medical worth $15,769,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Jennison Associates LLC boosted its position in Inari Medical by 11.8% during the fourth quarter. Jennison Associates LLC now owns 1,763,258 shares of the company’s stock worth $90,014,000 after acquiring an additional 186,617 shares during the last quarter. Vestal Point Capital LP raised its stake in Inari Medical by 342.9% during the third quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock worth $63,922,000 after purchasing an additional 1,200,000 shares during the period. Bamco Inc. NY raised its stake in Inari Medical by 29.5% during the third quarter. Bamco Inc. NY now owns 1,006,129 shares of the company’s stock worth $41,493,000 after purchasing an additional 228,977 shares during the period. The Manufacturers Life Insurance Company raised its stake in Inari Medical by 101.3% during the third quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company’s stock worth $32,790,000 after purchasing an additional 400,198 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Inari Medical by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 453,972 shares of the company’s stock worth $18,722,000 after purchasing an additional 1,783 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Inari Medical Price Performance

Shares of NARI opened at $79.97 on Wednesday. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $79.99. The firm’s 50 day moving average price is $72.43 and its 200 day moving average price is $55.98. The company has a market cap of $4.68 billion, a P/E ratio of -59.24 and a beta of 1.02.

Insider Buying and Selling

In related news, Director William Hoffman sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $55.66, for a total transaction of $3,339,600.00. Following the sale, the director now directly owns 441,233 shares of the company’s stock, valued at $24,559,028.78. This represents a 11.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $55.29, for a total transaction of $165,870.00. Following the sale, the chief executive officer now directly owns 439,310 shares in the company, valued at approximately $24,289,449.90. The trade was a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 263,000 shares of company stock valued at $15,599,470 in the last ninety days. Company insiders own 10.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on NARI shares. Baird R W downgraded shares of Inari Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Truist Financial lifted their target price on shares of Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $80.00 target price (up from $65.00) on shares of Inari Medical in a research note on Tuesday, January 7th. Oppenheimer started coverage on shares of Inari Medical in a research note on Tuesday, December 17th. They set an “outperform” rating and a $75.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Inari Medical presently has a consensus rating of “Hold” and a consensus price target of $68.00.

Inari Medical 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.