State of New Jersey Common Pension Fund D Buys 6,980 Shares of Inari Medical, Inc. (NASDAQ:NARI)

State of New Jersey Common Pension Fund D increased its stake in shares of Inari Medical, Inc. (NASDAQ:NARI) by 19.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,954 shares of the company’s stock after buying an additional 6,980 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.07% of Inari Medical worth $2,789,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Fifth Third Bancorp boosted its stake in shares of Inari Medical by 54.3% in the 3rd quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock valued at $32,000 after purchasing an additional 171 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of 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 in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Inari Medical by 11.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 3,987 shares of the company’s stock valued at $261,000 after purchasing an additional 417 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Inari Medical by 3.8% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 15,276 shares of the company’s stock valued at $999,000 after purchasing an additional 560 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Inari Medical by 7.8% in the 3rd quarter. Victory Capital Management Inc. now owns 9,050 shares of the company’s stock valued at $592,000 after purchasing an additional 651 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. 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. Canaccord Genuity Group restated a “buy” rating and issued a $75.00 target price on shares of Inari Medical in a research note on Friday, April 12th. Needham & Company LLC restated a “buy” rating and issued a $72.00 target price on shares of Inari Medical in a research note on Wednesday, March 6th. Finally, Piper Sandler cut Inari Medical from an “overweight” rating to a “neutral” rating and cut their price target for the company from $85.00 to $55.00 in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.71.

Insiders Place Their Bets

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 stock was sold at an average price of $40.00, for a total transaction of $58,040.00. Following the completion of the sale, the director now directly owns 999,782 shares of the company’s stock, valued at approximately $39,991,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $40.00, for a total transaction of $58,040.00. Following the completion of the sale, the director now directly owns 999,782 shares of the company’s stock, valued at approximately $39,991,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $245,760.00. Following the sale, the chief financial officer now directly owns 181,294 shares of the company’s stock, valued at $7,425,802.24. The disclosure for this sale can be found here. In the last three months, insiders sold 47,451 shares of company stock valued at $1,949,000. 10.60% of the stock is currently owned by insiders.

Inari Medical Stock Down 1.2 %

Inari Medical stock opened at $37.95 on Tuesday. The stock has a 50-day simple moving average of $44.45 and a 200 day simple moving average of $54.08. Inari Medical, Inc. has a 12-month low of $36.73 and a 12-month high of $71.85.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). The business 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 business’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.11) earnings per share. Sell-side analysts anticipate that Inari Medical, Inc. will post -0.25 EPS for the current year.

Inari Medical 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.