Rhumbline Advisers Reduces Holdings in Inari Medical, Inc. (NASDAQ:NARI)

Rhumbline Advisers lowered its position in Inari Medical, Inc. (NASDAQ:NARI) by 3.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 140,869 shares of the company’s stock after selling 4,356 shares during the period. Rhumbline Advisers owned 0.24% of Inari Medical worth $7,191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NARI. R Squared Ltd acquired a new stake in shares of Inari Medical in the fourth quarter valued at about $45,000. KBC Group NV grew its stake in Inari Medical by 39.0% during the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock valued at $73,000 after acquiring an additional 498 shares in the last quarter. GAMMA Investing LLC raised its holdings in Inari Medical by 66.8% in the 4th quarter. GAMMA Investing LLC now owns 1,963 shares of the company’s stock valued at $100,000 after acquiring an additional 786 shares during the last quarter. Covestor Ltd lifted its stake in Inari Medical by 63.5% in the 3rd quarter. Covestor Ltd now owns 2,384 shares of the company’s stock worth $99,000 after purchasing an additional 926 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in Inari Medical by 44.2% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,113 shares of the company’s stock worth $128,000 after purchasing an additional 954 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

NARI has been the subject of several recent research reports. Piper Sandler increased their price target on Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. William Blair reaffirmed a “market perform” rating on shares of Inari Medical in a research note on Tuesday, January 7th. Truist Financial lifted their price target on Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. BTIG Research reissued a “neutral” rating on shares of Inari Medical in a report on Wednesday, January 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research report on Tuesday, October 29th. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Inari Medical has an average rating of “Hold” and an average target price of $68.00.

Insider Activity at Inari Medical

In other news, Director William Hoffman sold 200,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $60.47, for a total transaction of $12,094,000.00. Following the completion of the transaction, the director now directly owns 238,987 shares in the company, valued at $14,451,543.89. This trade represents a 45.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction 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 sale, the chief executive officer now directly owns 439,310 shares of the company’s stock, valued at $24,289,449.90. The trade was a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 263,000 shares of company stock worth $15,599,470. Insiders own 10.60% of the company’s stock.

Inari Medical Price Performance

Shares of NARI opened at $79.97 on Wednesday. The firm has a 50-day simple moving average of $72.43 and a two-hundred day simple moving average of $55.98. The stock has a market cap of $4.68 billion, a PE ratio of -59.24 and a beta of 1.02. Inari Medical, Inc. has a 1-year low of $36.73 and a 1-year high of $79.99.

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.