Franklin Resources Inc. Purchases 17,661 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Franklin Resources Inc. boosted its position in Inari Medical, Inc. (NASDAQ:NARIGet Rating) by 1.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,817,378 shares of the company’s stock after acquiring an additional 17,661 shares during the period. Franklin Resources Inc. owned 3.40% of Inari Medical worth $123,564,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Trustcore Financial Services LLC grew its holdings in Inari Medical by 266.7% in the 1st quarter. Trustcore Financial Services LLC now owns 275 shares of the company’s stock worth $25,000 after acquiring an additional 200 shares during the last quarter. Parkside Financial Bank & Trust purchased a new stake in shares of Inari Medical in the 1st quarter worth about $25,000. Fifth Third Bancorp purchased a new stake in shares of Inari Medical in the 2nd quarter worth about $27,000. DB Wealth Management Group LLC purchased a new stake in shares of Inari Medical in the 1st quarter worth about $54,000. Finally, Assetmark Inc. lifted its position in shares of Inari Medical by 365.9% in the 2nd quarter. Assetmark Inc. now owns 1,081 shares of the company’s stock worth $73,000 after purchasing an additional 849 shares during the period. Institutional investors own 84.11% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on NARI shares. Canaccord Genuity Group raised their target price on shares of Inari Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, September 16th. BTIG Research dropped their target price on shares of Inari Medical from $100.00 to $97.00 and set a “buy” rating for the company in a research report on Monday, October 17th. Truist Financial lowered their price target on shares of Inari Medical from $87.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, October 17th. Morgan Stanley lifted their price target on shares of Inari Medical from $93.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, November 3rd. Finally, Berenberg Bank assumed coverage on shares of Inari Medical in a report on Thursday, September 29th. They issued a “buy” rating and a $85.00 target price for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.30.

Insider Activity at Inari Medical

In related news, COO Andrew Hykes sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the sale, the chief operating officer now directly owns 130,991 shares in the company, valued at $9,169,370. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Inari Medical news, COO Andrew Hykes sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the transaction, the chief operating officer now directly owns 130,991 shares in the company, valued at $9,169,370. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William Hoffman sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $71.46, for a total transaction of $2,143,800.00. Following the completion of the transaction, the chief executive officer now owns 378,901 shares of the company’s stock, valued at $27,076,265.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 233,192 shares of company stock worth $17,955,556. 11.90% of the stock is owned by company insiders.

Inari Medical Stock Performance

Shares of NASDAQ NARI opened at $75.75 on Thursday. The firm has a 50 day moving average of $73.71 and a 200 day moving average of $71.40. Inari Medical, Inc. has a 12-month low of $50.50 and a 12-month high of $100.00.

About Inari Medical

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Inari Medical, Inc, a medical device company, develops, manufactures, markets, and sells devices for the interventional treatment of venous diseases in the United States. The company provides ClotTriever, a mechanical thrombectomy system, which is designed to core, capture, and remove large clots from large vessels, as well as for treatment of deep vein thrombosis; and FlowTriever, a large bore catheter-based aspiration and mechanical thrombectomy system, for treatment of pulmonary embolism.

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Institutional Ownership by Quarter for Inari Medical (NASDAQ:NARI)

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