Envestnet Asset Management Inc. Sells 1,439 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Envestnet Asset Management Inc. trimmed its holdings in Inari Medical, Inc. (NASDAQ:NARI) by 2.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,527 shares of the company’s stock after selling 1,439 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Inari Medical were worth $2,481,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NARI. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Inari Medical during the first quarter worth $30,000. GAMMA Investing LLC grew its position in shares of Inari Medical by 164.7% during the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after purchasing an additional 438 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Inari Medical by 83.5% in the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after purchasing an additional 435 shares during the last quarter. Covestor Ltd lifted its position in shares of Inari Medical by 30.2% in the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after buying an additional 376 shares in the last quarter. Finally, Quest Partners LLC boosted its stake in Inari Medical by 31,257.1% during the second quarter. Quest Partners LLC now owns 2,195 shares of the company’s stock valued at $106,000 after buying an additional 2,188 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Thomas Tu sold 16,520 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $55.09, for a total value of $910,086.80. Following the transaction, the insider now owns 313,257 shares of the company’s stock, valued at $17,257,328.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Thomas Tu sold 16,520 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $55.09, for a total transaction of $910,086.80. Following the transaction, the insider now directly owns 313,257 shares of the company’s stock, valued at approximately $17,257,328.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William Hoffman sold 60,000 shares of Inari Medical stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $56.74, for a total transaction of $3,404,400.00. Following the sale, the director now directly owns 743,296 shares of the company’s stock, valued at $42,174,615.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,520 shares of company stock valued at $6,958,467. 10.60% of the stock is currently owned by company insiders.

Inari Medical Price Performance

Inari Medical stock opened at $41.92 on Friday. Inari Medical, Inc. has a 1-year low of $36.73 and a 1-year high of $69.40. The company’s 50-day moving average is $45.27 and its 200 day moving average is $46.07. The firm has a market capitalization of $2.44 billion, a P/E ratio of -102.24 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last issued 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). The business had revenue of $145.82 million for the quarter, compared to the consensus estimate of $143.96 million. Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. Research analysts anticipate that Inari Medical, Inc. will post -0.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NARI shares. Robert W. Baird reduced their price objective 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. William Blair started coverage on shares of Inari Medical in a research note on Thursday, July 25th. They set an “outperform” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Inari Medical in a report on Friday, August 9th. They issued a “buy” rating and a $68.00 target price on the stock. Finally, Stifel Nicolaus began coverage on shares of Inari Medical in a report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price target for the company. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.44.

Inari Medical 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.