Connor Clark & Lunn Investment Management Ltd. Acquires 8,465 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Connor Clark & Lunn Investment Management Ltd. grew its position in Inari Medical, Inc. (NASDAQ:NARI) by 11.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 84,968 shares of the company’s stock after acquiring an additional 8,465 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Inari Medical were worth $3,504,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of NARI. Vanguard Group Inc. lifted its stake in shares of Inari Medical by 11.1% in the 1st quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock valued at $268,681,000 after acquiring an additional 561,562 shares during the last quarter. Bessemer Group Inc. raised its position in shares of 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 acquiring an additional 344 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Inari Medical by 85.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 53,287 shares of the company’s stock worth $2,550,000 after acquiring an additional 24,562 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Inari Medical by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 373,347 shares of the company’s stock worth $17,914,000 after acquiring an additional 2,003 shares in the last quarter. Finally, Motley Fool Asset Management LLC raised its position in shares of Inari Medical by 48.8% in the 1st quarter. Motley Fool Asset Management LLC now owns 65,821 shares of the company’s stock worth $3,158,000 after acquiring an additional 21,582 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NARI. Stifel Nicolaus began coverage on Inari Medical in a research report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 target price for the company. Robert W. Baird boosted their target price on Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Piper Sandler boosted their price objective on Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Leerink Partnrs raised Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $58.89.

Insider Activity at Inari Medical

In other Inari Medical news, CFO Mitch C. Hill sold 3,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $45.13, for a total transaction of $135,390.00. Following the sale, the chief financial officer now owns 179,600 shares in the company, valued at $8,105,348. This represents a 1.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $45.83, for a total value of $1,833,200.00. Following the sale, the director now owns 643,296 shares in the company, valued at approximately $29,482,255.68. This represents a 5.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 186,000 shares of company stock worth $8,990,990. Insiders own 10.60% of the company’s stock.

Inari Medical Stock Down 0.2 %

Shares of NASDAQ NARI opened at $49.66 on Monday. Inari Medical, Inc. has a twelve month low of $36.73 and a twelve month high of $67.13. The stock’s 50 day moving average price is $45.66 and its 200-day moving average price is $47.33. The company has a market capitalization of $2.91 billion, a PE ratio of -36.79 and a beta of 0.96.

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.