Quest Partners LLC Boosts Stock Position in Inari Medical, Inc. (NASDAQ:NARI)

Quest Partners LLC grew its stake in Inari Medical, Inc. (NASDAQ:NARI) by 84.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,051 shares of the company’s stock after purchasing an additional 1,856 shares during the period. Quest Partners LLC’s holdings in Inari Medical were worth $167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in NARI. Point72 Asset Management L.P. grew its position in shares of Inari Medical by 113.3% in the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock valued at $71,324,000 after purchasing an additional 786,691 shares in the last quarter. Armistice Capital LLC grew its position in shares of Inari Medical by 353.1% in the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock valued at $48,595,000 after purchasing an additional 786,501 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Inari Medical by 11.1% in the first quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock valued at $268,681,000 after purchasing an additional 561,562 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Inari Medical by 1,219.9% in the second quarter. The Manufacturers Life Insurance Company now owns 394,901 shares of the company’s stock valued at $19,014,000 after purchasing an additional 364,983 shares in the last quarter. Finally, First Light Asset Management LLC grew its position in shares of Inari Medical by 120.8% in the second quarter. First Light Asset Management LLC now owns 472,384 shares of the company’s stock valued at $22,745,000 after purchasing an additional 258,444 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on NARI. Deutsche Bank Aktiengesellschaft began coverage on Inari Medical in a research report on Friday, August 9th. They issued a “buy” rating and a $68.00 price objective for the company. Leerink Partnrs upgraded Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Stifel Nicolaus began coverage on Inari Medical in a research report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research report on Tuesday, October 29th. Finally, Piper Sandler increased their price objective on Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $58.89.

Insider Activity

In other Inari Medical news, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the transaction, the director now owns 601,233 shares of the company’s stock, valued at approximately $27,067,509.66. This trade represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mitch C. Hill sold 3,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $45.13, for a total value of $135,390.00. Following the transaction, the chief financial officer now directly owns 179,600 shares in the company, valued at approximately $8,105,348. The trade was a 1.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 186,000 shares of company stock worth $8,990,990. Corporate insiders own 10.60% of the company’s stock.

Inari Medical Trading Up 0.4 %

Shares of NASDAQ NARI opened at $51.03 on Thursday. The stock has a market cap of $2.99 billion, a P/E ratio of -37.65 and a beta of 0.96. Inari Medical, Inc. has a 12-month low of $36.73 and a 12-month high of $67.13. The business’s fifty day simple moving average is $45.86 and its 200-day simple moving average is $47.43.

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.