Algert Global LLC Acquires 12,180 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Algert Global LLC grew its position in Inari Medical, Inc. (NASDAQ:NARI) by 38.2% in the third quarter, Holdings Channel reports. The fund owned 44,106 shares of the company’s stock after acquiring an additional 12,180 shares during the quarter. Algert Global LLC’s holdings in Inari Medical were worth $1,819,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NARI. Point72 Asset Management L.P. grew its stake in shares of Inari Medical by 113.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock valued at $71,324,000 after buying an additional 786,691 shares during the period. Armistice Capital LLC raised its holdings in shares of Inari Medical by 353.1% in the 2nd quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock worth $48,595,000 after purchasing an additional 786,501 shares during the period. Jennison Associates LLC raised its holdings in shares of Inari Medical by 63.2% in the 3rd quarter. Jennison Associates LLC now owns 1,576,641 shares of the company’s stock worth $65,021,000 after purchasing an additional 610,468 shares during the period. Vanguard Group Inc. grew its stake in Inari Medical by 11.1% in the 1st quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock valued at $268,681,000 after buying an additional 561,562 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Inari Medical by 1,219.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 394,901 shares of the company’s stock valued at $19,014,000 after buying an additional 364,983 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

Inari Medical Stock Up 0.4 %

NASDAQ NARI opened at $51.03 on Thursday. The stock’s 50-day moving average price is $45.86 and its 200-day moving average price is $47.43. Inari Medical, Inc. has a 52 week low of $36.73 and a 52 week high of $67.13. The company has a market capitalization of $2.99 billion, a P/E ratio of -37.80 and a beta of 0.96.

Insider Activity at Inari Medical

In related news, CFO Mitch C. Hill sold 3,000 shares of Inari Medical stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $45.13, for a total transaction of $135,390.00. Following the sale, the chief financial officer now owns 179,600 shares of the company’s stock, valued at approximately $8,105,348. This trade represents a 1.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.83, for a total value of $1,833,200.00. Following the sale, the director now directly owns 643,296 shares in the company, valued at $29,482,255.68. This trade represents a 5.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 186,000 shares of company stock valued at $8,990,990. 10.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wells Fargo & Company reduced their price target on shares of Inari Medical from $84.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Truist Financial upped their target price on Inari Medical from $46.00 to $50.00 and gave the company a “hold” rating in a report on Tuesday, October 29th. Leerink Partners initiated coverage on Inari Medical in a research note on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 target price on the stock. Piper Sandler increased their target price on Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, Stifel Nicolaus began coverage on Inari Medical in a research report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Inari Medical presently has an average rating of “Hold” and an average price target of $58.89.

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.