Lighthouse Investment Partners LLC Makes New Investment in Inari Medical, Inc. (NASDAQ:NARI)

Lighthouse Investment Partners LLC acquired a new stake in shares of Inari Medical, Inc. (NASDAQ:NARI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,555 shares of the company’s stock, valued at approximately $2,145,000. Lighthouse Investment Partners LLC owned about 0.08% of Inari Medical at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. raised its holdings in Inari Medical by 16.4% in the 1st quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock worth $117,000 after purchasing an additional 344 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Inari Medical by 7.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock worth $234,000 after buying an additional 348 shares during the period. Arizona State Retirement System lifted its holdings in Inari Medical by 2.5% in the second quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock worth $703,000 after buying an additional 358 shares during the period. Covestor Ltd boosted its position in Inari Medical by 30.2% during the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after acquiring an additional 376 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Inari Medical by 83.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after acquiring an additional 435 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on NARI shares. Wells Fargo & Company dropped their target price on shares of Inari Medical from $84.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Piper Sandler restated a “neutral” rating and issued a $50.00 price objective on shares of Inari Medical in a report on Monday, August 26th. Leerink Partners began coverage on shares of Inari Medical in a research note on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research report on Wednesday, July 31st. Finally, Robert W. Baird cut their price target on Inari Medical from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Inari Medical currently has an average rating of “Hold” and an average price target of $58.44.

Inari Medical Price Performance

Shares of NARI stock opened at $41.20 on Friday. Inari Medical, Inc. has a one year low of $36.73 and a one year high of $69.40. The company’s fifty day moving average price is $46.60 and its 200-day moving average price is $46.05. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -100.49 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.41) 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 business had revenue of $145.82 million for the quarter, compared to the consensus estimate of $143.96 million. Equities research analysts expect that Inari Medical, Inc. will post -0.7 earnings per share for the current fiscal year.

Insider Activity at Inari Medical

In other Inari Medical news, Director William Hoffman sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $50.15, for a total value of $1,003,000.00. Following the completion of the transaction, the director now directly owns 805,359 shares in the company, valued at approximately $40,388,753.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction on Monday, July 1st. The shares were sold at an average price of $50.08, for a total value of $150,240.00. Following the sale, the chief executive officer now directly owns 462,474 shares in the company, valued at approximately $23,160,697.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William Hoffman sold 20,000 shares of the business’s 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 completion of the sale, the director now owns 805,359 shares in the company, valued at approximately $40,388,753.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,520 shares of company stock valued at $8,111,707. 10.60% of the stock is owned by company insiders.

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.