Charles Schwab Investment Management Inc. Grows Stock Position in Inari Medical, Inc. (NASDAQ:NARI)

Charles Schwab Investment Management Inc. lifted its stake in Inari Medical, Inc. (NASDAQ:NARI) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 465,962 shares of the company’s stock after buying an additional 11,990 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.80% of Inari Medical worth $23,787,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Jennison Associates LLC increased its holdings in shares of Inari Medical by 11.8% in the fourth quarter. Jennison Associates LLC now owns 1,763,258 shares of the company’s stock worth $90,014,000 after buying an additional 186,617 shares during the period. Vestal Point Capital LP increased its holdings in Inari Medical by 342.9% during the 3rd quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock valued at $63,922,000 after purchasing an additional 1,200,000 shares during the period. Bamco Inc. NY increased its holdings in Inari Medical by 29.5% during the 3rd quarter. Bamco Inc. NY now owns 1,006,129 shares of the company’s stock valued at $41,493,000 after purchasing an additional 228,977 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Inari Medical by 101.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company’s stock valued at $32,790,000 after purchasing an additional 400,198 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Inari Medical by 5.2% during the 4th quarter. Principal Financial Group Inc. now owns 308,903 shares of the company’s stock valued at $15,769,000 after purchasing an additional 15,368 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NARI. BTIG Research restated a “neutral” rating on shares of Inari Medical in a report on Wednesday, January 8th. Canaccord Genuity Group restated a “hold” rating and set a $80.00 price target (up previously from $74.00) on shares of Inari Medical in a report on Tuesday, January 7th. Oppenheimer started coverage on Inari Medical in a report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price target on the stock. William Blair reiterated a “market perform” rating on shares of Inari Medical in a report on Tuesday, January 7th. Finally, Piper Sandler upped their target price on Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $68.00.

Insider Transactions at Inari Medical

In related news, Director William Hoffman sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $60.47, for a total value of $12,094,000.00. Following the transaction, the director now directly owns 238,987 shares of the company’s stock, valued at approximately $14,451,543.89. This represents a 45.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 shares were sold at an average price of $55.29, for a total value of $165,870.00. Following the completion of the transaction, the chief executive officer now directly owns 439,310 shares in the company, valued at $24,289,449.90. This trade represents a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.60% of the company’s stock.

Inari Medical Price Performance

Shares of NARI opened at $79.97 on Wednesday. The business’s 50 day moving average price is $79.77 and its 200-day moving average price is $59.53. Inari Medical, Inc. has a 52 week low of $36.73 and a 52 week high of $79.99. The stock has a market cap of $4.68 billion, a P/E ratio of -59.24 and a beta of 1.02.

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.