Lisanti Capital Growth LLC Invests $3.97 Million in Inari Medical, Inc. (NASDAQ:NARI)

Lisanti Capital Growth LLC bought a new position in shares of Inari Medical, Inc. (NASDAQ:NARI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 77,755 shares of the company’s stock, valued at approximately $3,969,000.

A number of other large investors have also modified their holdings of NARI. Asset Management One Co. Ltd. raised its stake 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 worth $2,530,000 after buying an additional 962 shares in the last quarter. Financial Enhancement Group LLC purchased a new position in shares of Inari Medical during the 3rd quarter worth approximately $1,155,000. Assetmark Inc. raised its stake in shares of Inari Medical by 5.9% during the 3rd quarter. Assetmark Inc. now owns 19,382 shares of the company’s stock worth $799,000 after buying an additional 1,076 shares in the last quarter. Covestor Ltd raised its stake in shares of Inari Medical by 63.5% during the 3rd quarter. Covestor Ltd now owns 2,384 shares of the company’s stock worth $99,000 after buying an additional 926 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake 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 worth $1,901,000 after buying an additional 8,830 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Inari Medical news, Director William Hoffman sold 200,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $60.47, for a total transaction of $12,094,000.00. Following the completion of the transaction, the director now owns 238,987 shares of the company’s stock, valued at approximately $14,451,543.89. This trade represents a 45.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $55.29, for a total value of $165,870.00. Following the transaction, the chief executive officer now directly owns 439,310 shares of the company’s stock, valued at $24,289,449.90. The trade was a 0.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 263,000 shares of company stock valued at $15,599,470. Corporate insiders own 10.60% of the company’s stock.

Inari Medical Stock Performance

Inari Medical stock opened at $79.97 on Friday. The stock has a fifty day moving average of $75.52 and a two-hundred day moving average of $57.24. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of -59.24 and a beta of 1.02. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $79.99.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NARI shares. BTIG Research reissued a “neutral” rating on shares of Inari Medical in a research note on Wednesday, January 8th. Truist Financial raised their price objective on Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $80.00 price objective (up from $74.00) on shares of Inari Medical in a research note on Tuesday, January 7th. William Blair reaffirmed a “market perform” rating on shares of Inari Medical in a research note on Tuesday, January 7th. Finally, Oppenheimer initiated coverage on Inari Medical in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price objective for the company. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Inari Medical has a consensus rating of “Hold” and an average price target of $68.00.

About Inari Medical

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.