Geode Capital Management LLC Sells 6,378 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Geode Capital Management LLC decreased its stake in Inari Medical, Inc. (NASDAQ:NARI) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,213,735 shares of the company’s stock after selling 6,378 shares during the period. Geode Capital Management LLC owned 2.07% of Inari Medical worth $50,064,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Barclays PLC grew its stake in Inari Medical by 9.7% in the third quarter. Barclays PLC now owns 288,079 shares of the company’s stock valued at $11,881,000 after purchasing an additional 25,365 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Inari Medical by 316.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,318 shares of the company’s stock valued at $1,828,000 after buying an additional 33,682 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Inari Medical by 32.4% in the third quarter. Jane Street Group LLC now owns 95,223 shares of the company’s stock valued at $3,927,000 after buying an additional 23,286 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Inari Medical during the third quarter worth $9,008,000. Finally, Bamco Inc. NY raised its position in Inari Medical by 29.5% during the third quarter. Bamco Inc. NY now owns 1,006,129 shares of the company’s stock worth $41,493,000 after acquiring an additional 228,977 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $55.29, for a total transaction of $165,870.00. Following the completion of the transaction, the chief executive officer now owns 439,310 shares of the company’s stock, valued at approximately $24,289,449.90. The trade was a 0.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Hoffman sold 40,000 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the completion of the transaction, the director now directly owns 601,233 shares of the company’s stock, valued at $27,067,509.66. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,000 shares of company stock worth $10,527,870 in the last quarter. Corporate insiders own 10.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. 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 price objective on the stock. Oppenheimer assumed coverage on Inari Medical in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price objective on the stock. Truist Financial lifted their target price on Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Stifel Nicolaus initiated coverage on Inari Medical in a research note on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price target on the stock. Finally, Leerink Partnrs raised shares of Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Inari Medical currently has an average rating of “Moderate Buy” and an average price target of $61.80.

Inari Medical Stock Performance

NARI stock opened at $55.45 on Monday. Inari Medical, Inc. has a 52 week low of $36.73 and a 52 week high of $66.61. The company’s 50-day simple moving average is $50.12 and its 200 day simple moving average is $48.14. The company has a market capitalization of $3.25 billion, a PE ratio of -41.07 and a beta of 0.97.

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.