Affinity Asset Advisors LLC Raises Position in Inari Medical, Inc. (NASDAQ:NARI)

Affinity Asset Advisors LLC raised its position in shares of Inari Medical, Inc. (NASDAQ:NARI) by 14.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 200,000 shares of the company’s stock after acquiring an additional 25,000 shares during the quarter. Inari Medical makes up approximately 1.1% of Affinity Asset Advisors LLC’s holdings, making the stock its 25th largest position. Affinity Asset Advisors LLC owned 0.34% of Inari Medical worth $9,630,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Inari Medical by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company’s stock valued at $38,693,000 after purchasing an additional 41,555 shares during the period. Norges Bank bought a new stake in shares of Inari Medical during the 4th quarter valued at $29,491,000. Motley Fool Asset Management LLC boosted its holdings in shares of Inari Medical by 46.2% during the 1st quarter. Motley Fool Asset Management LLC now owns 64,677 shares of the company’s stock valued at $3,103,000 after buying an additional 20,438 shares in the last quarter. Bamco Inc. NY increased its stake in shares of Inari Medical by 27.4% in the 1st quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock worth $37,288,000 after acquiring an additional 167,000 shares in the last quarter. Finally, Point72 Europe London LLP lifted its position in Inari Medical by 91.8% during the 4th quarter. Point72 Europe London LLP now owns 332,202 shares of the company’s stock valued at $21,567,000 after acquiring an additional 158,997 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Inari Medical Trading Down 1.7 %

Shares of NARI opened at $42.43 on Wednesday. The firm has a fifty day simple moving average of $47.50 and a two-hundred day simple moving average of $46.13. Inari Medical, Inc. has a 1-year low of $36.73 and a 1-year high of $69.40.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.25). Inari Medical had a negative net margin of 10.42% and a negative return on equity of 7.51%. The firm had revenue of $145.82 million for the quarter, compared to the consensus estimate of $143.96 million. As a group, analysts forecast that Inari Medical, Inc. will post -0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Inari Medical

In other news, Director William Hoffman sold 20,000 shares of Inari Medical stock in a transaction on Monday, July 1st. The shares were sold at an average price of $50.15, for a total transaction of $1,003,000.00. Following the transaction, the director now owns 805,359 shares in the company, valued at approximately $40,388,753.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director William Hoffman sold 20,000 shares of Inari Medical stock in a transaction on Monday, July 1st. The stock was sold at an average price of $50.15, for a total transaction of $1,003,000.00. Following the transaction, the director now directly owns 805,359 shares in the company, valued at $40,388,753.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $55.23, for a total value of $165,690.00. Following the completion of the sale, the chief executive officer now owns 455,252 shares of the company’s stock, valued at approximately $25,143,567.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,520 shares of company stock valued at $8,111,707. Insiders own 10.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NARI shares. Stifel Nicolaus started coverage on shares of Inari Medical in a report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective on the stock. Truist Financial reaffirmed a “hold” rating and set a $55.00 price objective (down previously from $60.00) on shares of Inari Medical in a research report on Wednesday, July 31st. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a report on Wednesday, July 31st. Canaccord Genuity Group raised their price target on Inari Medical from $55.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company cut their price objective on shares of Inari Medical from $84.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $58.44.

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.