Principal Financial Group Inc. Sells 6,888 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Principal Financial Group Inc. lowered its position in Inari Medical, Inc. (NASDAQ:NARI) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 293,535 shares of the company’s stock after selling 6,888 shares during the quarter. Principal Financial Group Inc. owned approximately 0.50% of Inari Medical worth $12,105,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NARI. Bamco Inc. NY raised its holdings in shares of Inari Medical by 27.4% in the 1st quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock valued at $37,288,000 after purchasing an additional 167,000 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in Inari Medical in the second quarter worth approximately $2,145,000. Integral Health Asset Management LLC lifted its holdings in Inari Medical by 100.0% during the second quarter. Integral Health Asset Management LLC now owns 400,000 shares of the company’s stock worth $19,260,000 after buying an additional 200,000 shares during the period. Seven Eight Capital LP bought a new stake in Inari Medical during the 1st quarter valued at $499,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Inari Medical by 1,219.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 394,901 shares of the company’s stock valued at $19,014,000 after acquiring an additional 364,983 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NARI shares. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. 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 price target for the company. Robert W. Baird lifted their price objective on shares of Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Piper Sandler increased their target price on shares of Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company lowered their target price on shares of Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Inari Medical presently has an average rating of “Hold” and a consensus price target of $58.89.

Inari Medical Price Performance

Shares of NARI opened at $50.56 on Monday. The firm has a market capitalization of $2.96 billion, a PE ratio of -37.45 and a beta of 0.96. The company’s fifty day moving average price is $45.19 and its 200-day moving average price is $47.05. Inari Medical, Inc. has a 1-year low of $36.73 and a 1-year high of $67.13.

Insider Buying and Selling at Inari Medical

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the sale, the chief executive officer now directly owns 445,310 shares in the company, valued at approximately $22,265,500. The trade was a 0.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $45.83, for a total transaction of $1,833,200.00. Following the completion of the sale, the director now owns 643,296 shares in the company, valued at $29,482,255.68. The trade was a 5.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,000 shares of company stock worth $5,921,390. 10.60% of the stock is currently owned by insiders.

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.