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

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

Other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Inari Medical by 11.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,463 shares of the company’s stock worth $696,000 after buying an additional 1,475 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in Inari Medical during the second quarter worth about $421,000. nVerses Capital LLC purchased a new stake in shares of Inari Medical in the second quarter valued at about $183,000. Lisanti Capital Growth LLC acquired a new stake in shares of Inari Medical in the second quarter valued at approximately $3,765,000. Finally, Fiera Capital Corp increased its stake in shares of Inari Medical by 1.2% during the 2nd quarter. Fiera Capital Corp now owns 583,388 shares of the company’s stock worth $28,090,000 after purchasing an additional 6,664 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Inari Medical Stock Performance

NARI opened at $52.97 on Monday. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $66.61. The company’s 50 day simple moving average is $51.08 and its 200 day simple moving average is $48.33. The stock has a market capitalization of $3.10 billion, a PE ratio of -39.24 and a beta of 0.97.

Insiders Place Their Bets

In other news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.05, for a total value of $2,002,000.00. Following the transaction, the director now directly owns 561,233 shares of the company’s stock, valued at $28,089,711.65. The trade was a 6.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Andrew Hykes sold 3,000 shares of the 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 of the company’s stock, valued at approximately $24,289,449.90. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,000 shares of company stock valued at $10,527,870 over the last quarter. Company insiders own 10.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Piper Sandler upped their target price on Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Stifel Nicolaus assumed coverage on Inari Medical in a research report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective on the stock. Oppenheimer assumed coverage on Inari Medical in a research report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price objective for the company. Leerink Partnrs raised shares of Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Finally, Canaccord Genuity Group raised their price target on shares of Inari Medical from $71.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Inari Medical has an average rating of “Moderate Buy” and a consensus price target of $61.80.

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.