Inari Medical, Inc. (NASDAQ:NARI) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Inari Medical, Inc. (NASDAQ:NARI) by 25.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,326 shares of the company’s stock after purchasing an additional 2,929 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Inari Medical were worth $930,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NARI. Fifth Third Bancorp grew its holdings in Inari Medical by 54.3% during the 3rd quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock worth $32,000 after acquiring an additional 171 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Inari Medical by 139.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,189 shares of the company’s stock worth $78,000 after acquiring an additional 693 shares in the last quarter. Handelsinvest Investeringsforvaltning acquired a new position in Inari Medical during the 4th quarter worth $185,000. Vanguard Personalized Indexing Management LLC acquired a new position in Inari Medical during the 3rd quarter worth $204,000. Finally, Blair William & Co. IL acquired a new position in Inari Medical during the 3rd quarter worth $205,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Inari Medical

In related news, Director William Hoffman sold 1,451 shares of Inari Medical stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.00, for a total value of $58,040.00. Following the sale, the director now directly owns 999,782 shares in the company, valued at approximately $39,991,280. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Inari Medical news, Director William Hoffman sold 1,451 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.00, for a total transaction of $58,040.00. Following the sale, the director now directly owns 999,782 shares in the company, valued at approximately $39,991,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mitch C. Hill sold 6,000 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $40.96, for a total transaction of $245,760.00. Following the sale, the chief financial officer now owns 181,294 shares in the company, valued at $7,425,802.24. The disclosure for this sale can be found here. Insiders have sold a total of 47,451 shares of company stock worth $1,949,000 in the last ninety days. 10.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Inari Medical Stock Up 0.9 %

Shares of NASDAQ:NARI opened at $38.42 on Monday. The company has a market cap of $2.23 billion, a PE ratio of -1,280.67 and a beta of 0.84. The company’s 50-day moving average price is $44.86 and its 200 day moving average price is $54.24. 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 issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.09). The firm had revenue of $132.10 million during the quarter, compared to the consensus estimate of $131.82 million. Inari Medical had a negative net margin of 0.33% and a positive return on equity of 1.23%. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) earnings per share. As a group, equities analysts anticipate that Inari Medical, Inc. will post -0.25 EPS for the current year.

About Inari Medical

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.