American Century Companies Inc. Buys 207,485 Shares of Inari Medical, Inc. (NASDAQ:NARI)

American Century Companies Inc. raised its stake in shares of Inari Medical, Inc. (NASDAQ:NARI) by 26.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 980,917 shares of the company’s stock after buying an additional 207,485 shares during the quarter. American Century Companies Inc. owned about 1.69% of Inari Medical worth $47,231,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. D.A. Davidson & CO. raised its stake in Inari Medical by 1.8% during the 4th quarter. D.A. Davidson & CO. now owns 10,570 shares of the company’s stock worth $686,000 after buying an additional 188 shares during the period. Bessemer Group Inc. raised its position in shares of Inari Medical by 16.4% during the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock worth $117,000 after purchasing an additional 344 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Inari Medical by 7.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock valued at $234,000 after purchasing an additional 348 shares in the last quarter. Arizona State Retirement System grew its position in shares of Inari Medical by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock valued at $703,000 after purchasing an additional 358 shares during the period. Finally, Covestor Ltd raised its holdings in Inari Medical by 30.2% during the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after buying an additional 376 shares during the period. 90.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NARI shares. Robert W. Baird lowered their price objective 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. Leerink Partners initiated coverage on Inari Medical in a report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 target price for the company. Wells Fargo & Company cut their price target on Inari Medical from $84.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Leerink Partnrs upgraded Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Inari Medical in a research report on Friday, August 9th. They issued a “buy” rating and a $68.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.50.

Insiders Place Their Bets

In other news, Director William Hoffman sold 20,000 shares of Inari Medical stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $50.15, for a total value of $1,003,000.00. Following the completion of the transaction, the director now owns 805,359 shares of the company’s stock, valued at approximately $40,388,753.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $50.08, for a total value of $150,240.00. Following the sale, the chief executive officer now owns 462,474 shares in the company, valued at approximately $23,160,697.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William Hoffman sold 20,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were 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 approximately $40,388,753.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,780 shares of company stock valued at $6,290,464. 10.60% of the stock is currently owned by corporate insiders.

Inari Medical Stock Performance

NARI opened at $46.25 on Tuesday. The business’s 50-day simple moving average is $48.85 and its 200 day simple moving average is $46.11. Inari Medical, Inc. has a 52-week low of $36.73 and a 52-week high of $69.40. The firm has a market capitalization of $2.69 billion, a PE ratio of -112.80 and a beta of 1.00.

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

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.