Russell Investments Group Ltd. Increases Stake in Inari Medical, Inc. (NASDAQ:NARI)

Russell Investments Group Ltd. increased its holdings in Inari Medical, Inc. (NASDAQ:NARI) by 139.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,485 shares of the company’s stock after acquiring an additional 28,825 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.09% of Inari Medical worth $3,213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in shares of Inari Medical by 127.3% during the 3rd quarter. Principal Financial Group Inc. now owns 459,644 shares of the company’s stock worth $30,061,000 after acquiring an additional 257,463 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Inari Medical during the third quarter worth $14,267,000. Fiera Capital Corp lifted its holdings in shares of Inari Medical by 63.4% during the 3rd quarter. Fiera Capital Corp now owns 560,756 shares of the company’s stock valued at $36,673,000 after purchasing an additional 217,606 shares during the last quarter. Lisanti Capital Growth LLC purchased a new stake in shares of Inari Medical during the 3rd quarter valued at $6,517,000. Finally, Bamco Inc. NY boosted its position in shares of Inari Medical by 18.2% in the 3rd quarter. Bamco Inc. NY now owns 557,937 shares of the company’s stock worth $36,489,000 after purchasing an additional 86,000 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Inari Medical

In other news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $41.13, for a total transaction of $1,645,200.00. Following the completion of the transaction, the director now directly owns 1,003,296 shares of the company’s stock, valued at approximately $41,265,564.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Inari Medical news, CFO Mitch C. Hill sold 6,000 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $40.96, for a total transaction of $245,760.00. Following the transaction, the chief financial officer now owns 181,294 shares in the company, valued at $7,425,802.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Hoffman sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $41.13, for a total value of $1,645,200.00. Following the completion of the sale, the director now owns 1,003,296 shares of the company’s stock, valued at $41,265,564.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,000 shares of company stock valued at $3,568,058. 10.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NARI. Piper Sandler dropped their price target on Inari Medical from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Needham & Company LLC cut their price target on shares of Inari Medical from $72.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Wells Fargo & Company lowered their price objective on shares of Inari Medical from $100.00 to $84.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Truist Financial dropped their price objective on shares of Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Finally, Canaccord Genuity Group reduced their target price on Inari Medical from $75.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Inari Medical has an average rating of “Moderate Buy” and a consensus target price of $65.71.

Inari Medical Price Performance

Shares of Inari Medical stock opened at $43.75 on Monday. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $71.85. The stock has a market cap of $2.54 billion, a PE ratio of -106.71 and a beta of 0.93. The firm has a fifty day moving average price of $42.08 and a 200 day moving average price of $53.13.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. The company had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $131.82 million. During the same quarter in the previous year, the business posted ($0.11) EPS. The business’s quarterly revenue was up 22.5% on a year-over-year basis. As a group, equities analysts expect that Inari Medical, Inc. will post -0.41 EPS for the current year.

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.