Versor Investments LP Increases Stock Position in Inari Medical, Inc. (NASDAQ:NARI)

Versor Investments LP grew its holdings in shares of Inari Medical, Inc. (NASDAQ:NARI) by 31.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 12,600 shares of the company’s stock after acquiring an additional 3,000 shares during the quarter. Versor Investments LP’s holdings in Inari Medical were worth $643,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in NARI. Asset Management One Co. Ltd. raised its position in shares of Inari Medical by 1.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 61,354 shares of the company’s stock valued at $2,530,000 after buying an additional 962 shares in the last quarter. Financial Enhancement Group LLC purchased a new stake in shares of Inari Medical during the 3rd quarter valued at about $1,155,000. Assetmark Inc. raised its position in shares of Inari Medical by 5.9% during the 3rd quarter. Assetmark Inc. now owns 19,382 shares of the company’s stock valued at $799,000 after buying an additional 1,076 shares in the last quarter. Covestor Ltd raised its position in shares of Inari Medical by 63.5% during the 3rd quarter. Covestor Ltd now owns 2,384 shares of the company’s stock valued at $99,000 after buying an additional 926 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in shares of Inari Medical by 23.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 46,087 shares of the company’s stock valued at $1,901,000 after buying an additional 8,830 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Inari Medical

In related news, Director William Hoffman sold 60,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $55.66, for a total transaction of $3,339,600.00. Following the sale, the director now owns 441,233 shares in the company, valued at approximately $24,559,028.78. This trade represents a 11.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $55.29, for a total transaction of $165,870.00. Following the sale, the chief executive officer now owns 439,310 shares in the company, valued at approximately $24,289,449.90. This represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 263,000 shares of company stock worth $15,599,470. 10.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NARI shares. Robert W. Baird reissued a “neutral” rating and issued a $80.00 price objective (down from $81.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Canaccord Genuity Group reiterated a “hold” rating and set a $80.00 price objective (up from $74.00) on shares of Inari Medical in a research note on Tuesday, January 7th. William Blair restated a “market perform” rating on shares of Inari Medical in a research note on Tuesday, January 7th. Piper Sandler raised their target price on shares of Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Finally, Oppenheimer initiated coverage on shares of Inari Medical in a report on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $68.00.

Inari Medical Price Performance

Shares of Inari Medical stock opened at $79.97 on Friday. The firm has a fifty day moving average price of $73.44 and a 200 day moving average price of $56.31. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $79.99. The stock has a market cap of $4.68 billion, a PE ratio of -59.24 and a beta of 1.02.

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.