Handelsinvest Investeringsforvaltning Decreases Position in Inari Medical, Inc. (NASDAQ:NARI)

Handelsinvest Investeringsforvaltning reduced its position in shares of Inari Medical, Inc. (NASDAQ:NARI) by 34.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,871 shares of the company’s stock after selling 971 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Inari Medical were worth $90,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in NARI. Benjamin F. Edwards & Company Inc. lifted its stake in Inari Medical by 27.4% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock worth $71,000 after purchasing an additional 236 shares in the last quarter. Clear Street Markets LLC purchased a new position in Inari Medical during the fourth quarter worth approximately $198,000. Atria Wealth Solutions Inc. purchased a new position in Inari Medical during the fourth quarter worth approximately $211,000. Pittenger & Anderson Inc. acquired a new position in Inari Medical during the fourth quarter worth $215,000. Finally, Raymond James & Associates acquired a new position in Inari Medical during the fourth quarter worth $216,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analysts Set New Price Targets

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

Inari Medical Price Performance

Inari Medical stock opened at $50.01 on Friday. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $71.85. The company’s 50 day simple moving average is $46.19 and its 200-day simple moving average is $50.18.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings data 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). The company had revenue of $143.19 million during the quarter, compared to analysts’ expectations of $138.32 million. Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. Analysts predict that Inari Medical, Inc. will post -0.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $50.00, for a total value of $150,000.00. Following the transaction, the chief executive officer now directly owns 465,474 shares in the company, valued at $23,273,700. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Mitch C. Hill sold 6,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 181,294 shares of the company’s stock, valued at $7,425,802.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the transaction, the chief executive officer now owns 465,474 shares in the company, valued at $23,273,700. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,224 shares of company stock valued at $8,667,431. 10.60% of the stock is currently owned by insiders.

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.