Inari Medical, Inc. (NASDAQ:NARI) Stake Increased by KBC Group NV

KBC Group NV increased its holdings in shares of Inari Medical, Inc. (NASDAQ:NARI) by 39.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,774 shares of the company’s stock after buying an additional 498 shares during the quarter. KBC Group NV’s holdings in Inari Medical were worth $73,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of NARI. Vanguard Group Inc. grew its stake in Inari Medical by 11.1% during the 1st quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock valued at $268,681,000 after acquiring an additional 561,562 shares in the last quarter. Point72 Asset Management L.P. increased its stake in 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 lifted its position in 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 buying an additional 786,501 shares in the last quarter. American Century Companies Inc. lifted its position in Inari Medical by 26.8% in the 2nd quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock worth $47,231,000 after buying an additional 207,485 shares in the last quarter. Finally, Bamco Inc. NY boosted its stake in shares of Inari Medical by 27.4% during the 1st quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock valued at $37,288,000 after buying an additional 167,000 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NARI shares. Wells Fargo & Company reduced their price objective on Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Piper Sandler boosted their price target on Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Leerink Partnrs raised shares of Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Truist Financial boosted their target price on shares of Inari Medical from $46.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. Finally, Canaccord Genuity Group raised their price target on shares of Inari Medical from $71.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $58.89.

Insider Transactions at Inari Medical

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

Inari Medical Price Performance

Shares of NASDAQ:NARI opened at $49.66 on Friday. The business’s fifty day moving average price is $45.60 and its two-hundred day moving average price is $47.21. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $67.13. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of -36.78 and a beta of 0.96.

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.