Nisa Investment Advisors LLC Sells 693 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Nisa Investment Advisors LLC lowered its position in Inari Medical, Inc. (NASDAQ:NARI) by 58.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 496 shares of the company’s stock after selling 693 shares during the period. Nisa Investment Advisors LLC’s holdings in Inari Medical were worth $32,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. New York State Teachers Retirement System raised its position in Inari Medical by 0.4% in the 4th quarter. New York State Teachers Retirement System now owns 53,924 shares of the company’s stock valued at $3,501,000 after purchasing an additional 233 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Inari Medical by 5.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 50,075 shares of the company’s stock valued at $3,261,000 after purchasing an additional 2,685 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Inari Medical by 79.8% in the fourth quarter. Pacer Advisors Inc. now owns 7,688 shares of the company’s stock valued at $499,000 after purchasing an additional 3,412 shares in the last quarter. Raymond James & Associates bought a new position in Inari Medical in the 4th quarter worth approximately $216,000. Finally, SG Americas Securities LLC lifted its holdings in Inari Medical by 47.8% during the 4th quarter. SG Americas Securities LLC now owns 21,746 shares of the company’s stock worth $1,412,000 after buying an additional 7,036 shares in the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Inari Medical

In other news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $41.13, for a total transaction of $1,645,200.00. Following the transaction, the director now owns 1,003,296 shares in the company, valued at approximately $41,265,564.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Inari Medical news, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $41.13, for a total transaction of $1,645,200.00. Following the sale, the director now directly owns 1,003,296 shares in the company, valued at approximately $41,265,564.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mitch C. Hill sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $40.96, for a total transaction of $245,760.00. Following the completion of the transaction, the chief financial officer now owns 181,294 shares of the company’s stock, valued at approximately $7,425,802.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,451 shares of company stock valued at $1,949,000. Company insiders own 10.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NARI. Piper Sandler cut Inari Medical from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $85.00 to $55.00 in a research note on Thursday, February 29th. Needham & Company LLC reissued a “buy” rating and set a $72.00 price objective on shares of Inari Medical in a report on Wednesday, March 6th. Truist Financial reduced their target price on shares of Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $75.00 price target on shares of Inari Medical in a research note on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Inari Medical presently has an average rating of “Moderate Buy” and a consensus price target of $73.71.

Inari Medical Price Performance

Shares of NASDAQ:NARI opened at $37.93 on Tuesday. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -1,264.33 and a beta of 0.84. The firm’s 50 day simple moving average is $46.48 and its 200 day simple moving average is $54.98. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $71.85.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Inari Medical had a positive return on equity of 1.23% and a negative net margin of 0.33%. The firm had revenue of $132.10 million for the quarter, compared to the consensus estimate of $131.82 million. During the same period in the prior year, the business earned ($0.11) earnings per share. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. Equities research analysts expect that Inari Medical, Inc. will post -0.39 earnings per share for the current year.

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.