Pittenger & Anderson Inc. Purchases New Stake in Inari Medical, Inc. (NASDAQ:NARI)

Pittenger & Anderson Inc. purchased a new stake in Inari Medical, Inc. (NASDAQ:NARI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,310 shares of the company’s stock, valued at approximately $215,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Brown Advisory Inc. increased its stake in Inari Medical by 3.1% during the third quarter. Brown Advisory Inc. now owns 1,446,931 shares of the company’s stock valued at $94,629,000 after purchasing an additional 43,657 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Inari Medical by 5.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 753,968 shares of the company’s stock worth $49,310,000 after acquiring an additional 40,069 shares during the last quarter. Fiera Capital Corp grew its position in shares of Inari Medical by 63.4% during the third quarter. Fiera Capital Corp now owns 560,756 shares of the company’s stock worth $36,673,000 after acquiring an additional 217,606 shares during the last quarter. Bamco Inc. NY grew its position in shares of Inari Medical by 18.2% during the third quarter. Bamco Inc. NY now owns 557,937 shares of the company’s stock worth $36,489,000 after acquiring an additional 86,000 shares during the last quarter. Finally, Fred Alger Management LLC grew its position in shares of Inari Medical by 10.4% during the third quarter. Fred Alger Management LLC now owns 499,989 shares of the company’s stock worth $32,699,000 after acquiring an additional 47,251 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Inari Medical

In other news, Director William Hoffman sold 1,451 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $40.00, for a total value of $58,040.00. Following the sale, the director now owns 999,782 shares in the company, valued at $39,991,280. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Inari Medical news, CFO Mitch C. Hill sold 6,000 shares of Inari Medical stock in a transaction on Friday, April 12th. The shares were sold at an average price of $40.96, for a total transaction of $245,760.00. Following the sale, the chief financial officer now owns 181,294 shares in the company, valued at $7,425,802.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Hoffman sold 1,451 shares of Inari Medical stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $40.00, for a total transaction of $58,040.00. Following the sale, the director now owns 999,782 shares in the company, valued at approximately $39,991,280. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,451 shares of company stock worth $1,949,000. Insiders own 10.60% of the company’s stock.

Inari Medical Stock Performance

NASDAQ NARI traded down $0.11 on Thursday, reaching $38.07. The company’s stock had a trading volume of 873,494 shares, compared to its average volume of 1,131,833. Inari Medical, Inc. has a twelve month low of $36.73 and a twelve month high of $71.85. The stock has a market cap of $2.21 billion, a PE ratio of -1,270.00 and a beta of 0.84. The firm’s 50 day moving average is $45.68 and its two-hundred day moving average is $54.65.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Inari Medical had a negative net margin of 0.33% and a positive return on equity of 1.23%. The firm had revenue of $132.10 million during the quarter, compared to the consensus estimate of $131.82 million. During the same period in the prior year, the business earned ($0.11) EPS. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. Equities research analysts anticipate that Inari Medical, Inc. will post -0.39 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of Inari Medical in a research report on Wednesday, March 6th. Canaccord Genuity Group restated a “buy” rating and set a $75.00 price target on shares of Inari Medical in a research report on Friday, April 12th. Truist Financial lowered their price target on shares of Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. Finally, Piper Sandler downgraded shares of Inari Medical from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $55.00 in a report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.71.

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.