Inari Medical, Inc. (NASDAQ:NARI) Shares Sold by Trexquant Investment LP

Trexquant Investment LP reduced its position in Inari Medical, Inc. (NASDAQ:NARI) by 17.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,738 shares of the company’s stock after selling 9,212 shares during the quarter. Trexquant Investment LP owned approximately 0.08% of Inari Medical worth $2,839,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NARI. Fifth Third Bancorp boosted its stake in Inari Medical by 54.3% in the third quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock valued at $32,000 after acquiring an additional 171 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Inari Medical by 1.8% during the 4th quarter. D.A. Davidson & CO. now owns 10,570 shares of the company’s stock worth $686,000 after acquiring an additional 188 shares during the period. New York State Teachers Retirement System raised its stake in shares of Inari Medical by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 53,924 shares of the company’s stock valued at $3,501,000 after acquiring an additional 233 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Inari Medical by 27.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock worth $71,000 after buying an additional 236 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in Inari Medical by 0.6% in the fourth quarter. Retirement Systems of Alabama now owns 64,100 shares of the company’s stock worth $4,161,000 after purchasing an additional 366 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Inari Medical Stock Performance

Inari Medical stock traded up $2.51 during trading on Friday, reaching $49.95. The company had a trading volume of 1,144,226 shares, compared to its average volume of 1,199,085. The firm’s 50-day simple moving average is $43.03 and its 200 day simple moving average is $52.54. The firm has a market capitalization of $2.90 billion, a PE ratio of -121.83 and a beta of 0.93. Inari Medical, Inc. has a 1-year low of $36.73 and a 1-year high of $71.85.

Inari Medical (NASDAQ:NARI) last issued its earnings results on Tuesday, April 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.15). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. The company had revenue of $143.19 million during the quarter, compared to analyst estimates of $138.32 million. Analysts anticipate that Inari Medical, Inc. will post -0.41 EPS for the current year.

Insider Transactions at Inari Medical

In related news, Director William Hoffman sold 40,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $46.60, for a total value of $1,864,000.00. Following the transaction, the director now owns 925,359 shares in the company, valued at $43,121,729.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Inari Medical news, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $46.60, for a total transaction of $1,864,000.00. Following the transaction, the director now owns 925,359 shares in the company, valued at $43,121,729.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Rebecca Chambers sold 964 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $45.39, for a total value of $43,755.96. Following the completion of the sale, the director now owns 9,944 shares in the company, valued at approximately $451,358.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,964 shares of company stock valued at $5,751,634. Corporate insiders own 10.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NARI. Needham & Company LLC cut their target price on shares of Inari Medical from $72.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Piper Sandler cut their price objective on Inari Medical from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Wells Fargo & Company reduced their price objective on 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 decreased their target price on Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd. Finally, Canaccord Genuity Group dropped their price target 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Inari Medical presently has an average rating of “Moderate Buy” and an average target price of $65.71.

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.