Commonwealth Equity Services LLC Invests $421,000 in Inari Medical, Inc. (NASDAQ:NARI)

Commonwealth Equity Services LLC purchased a new stake in Inari Medical, Inc. (NASDAQ:NARI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,745 shares of the company’s stock, valued at approximately $421,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Inari Medical by 7.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company’s stock worth $38,693,000 after purchasing an additional 41,555 shares during the period. Norges Bank acquired a new position in shares of Inari Medical during the 4th quarter valued at $29,491,000. Motley Fool Asset Management LLC boosted its stake in shares of Inari Medical by 46.2% during the 1st 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 in the last quarter. Bamco Inc. NY lifted its stake in Inari Medical by 27.4% during the first quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock valued at $37,288,000 after buying an additional 167,000 shares in the last quarter. Finally, Point72 Europe London LLP lifted its stake in Inari Medical by 91.8% during the fourth quarter. Point72 Europe London LLP now owns 332,202 shares of the company’s stock valued at $21,567,000 after buying an additional 158,997 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NARI. Deutsche Bank Aktiengesellschaft started coverage on shares of Inari Medical in a research report on Friday, August 9th. They issued a “buy” rating and a $68.00 price target for the company. Piper Sandler reiterated a “neutral” rating and issued a $50.00 target price on shares of Inari Medical in a research note on Monday, August 26th. Canaccord Genuity Group raised their price target on shares of Inari Medical from $55.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Leerink Partners initiated coverage on shares of Inari Medical in a research report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 target price on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a report on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.44.

Inari Medical Stock Performance

Shares of NASDAQ NARI opened at $43.68 on Friday. The stock has a market cap of $2.54 billion, a P/E ratio of -106.54 and a beta of 1.00. Inari Medical, Inc. has a 52-week low of $36.73 and a 52-week high of $69.40. The firm has a 50 day moving average price of $48.04 and a 200 day moving average price of $46.10.

Inari Medical (NASDAQ:NARI) last announced 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 business had revenue of $145.82 million during the quarter, compared to the consensus estimate of $143.96 million. Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. Analysts predict that Inari Medical, Inc. will post -0.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director William Hoffman sold 20,000 shares of the 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 transaction, the director now directly owns 805,359 shares of the company’s stock, valued at $40,388,753.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director William Hoffman sold 20,000 shares of the 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 transaction, the director now directly owns 805,359 shares of the company’s stock, valued at $40,388,753.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $50.08, for a total transaction of $150,240.00. Following the completion of the transaction, the chief executive officer now owns 462,474 shares in the company, valued at $23,160,697.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,520 shares of company stock valued at $8,111,707. 10.60% of the stock is currently owned by corporate insiders.

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.