KLP Kapitalforvaltning AS Makes New Investment in Inari Medical, Inc. (NASDAQ:NARI)

KLP Kapitalforvaltning AS purchased a new stake in shares of Inari Medical, Inc. (NASDAQ:NARI) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 10,900 shares of the company’s stock, valued at approximately $556,000.

Other large investors have also recently added to or reduced their stakes in the company. Verition Fund Management LLC purchased a new stake in Inari Medical in the 3rd quarter valued at about $1,235,000. Jane Street Group LLC lifted its holdings in shares of Inari Medical by 32.4% in the 3rd quarter. Jane Street Group LLC now owns 95,223 shares of the company’s stock worth $3,927,000 after acquiring an additional 23,286 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Inari Medical by 66.8% during the 4th quarter. GAMMA Investing LLC now owns 1,963 shares of the company’s stock worth $100,000 after purchasing an additional 786 shares during the period. Barclays PLC increased its holdings in Inari Medical by 9.7% in the 3rd quarter. Barclays PLC now owns 288,079 shares of the company’s stock valued at $11,881,000 after purchasing an additional 25,365 shares during the last quarter. Finally, Legato Capital Management LLC purchased a new stake in Inari Medical in the fourth quarter valued at approximately $681,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Inari Medical

In other news, Director William Hoffman sold 200,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 238,987 shares of the company’s stock, valued at approximately $14,451,543.89. This trade represents a 45.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.60% of the company’s stock.

Inari Medical Price Performance

NASDAQ NARI opened at $79.97 on Thursday. Inari Medical, Inc. has a 52 week low of $36.73 and a 52 week high of $79.99. The firm has a 50 day moving average of $79.90 and a two-hundred day moving average of $62.16. The stock has a market capitalization of $4.68 billion, a PE ratio of -59.24 and a beta of 1.02.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NARI shares. Piper Sandler raised their price target on Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Oppenheimer assumed coverage on Inari Medical in a report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 target price for the company. William Blair reiterated a “market perform” rating on shares of Inari Medical in a research note on Tuesday, January 7th. Robert W. Baird reissued a “neutral” rating and set a $80.00 price target (down previously from $81.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $80.00 price objective (up previously from $65.00) on shares of Inari Medical in a report on Tuesday, January 7th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Inari Medical has a consensus rating of “Hold” and a consensus target price of $68.00.

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.