Jennison Associates LLC Buys 33,419 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Jennison Associates LLC lifted its stake in Inari Medical, Inc. (NASDAQ:NARI) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 443,509 shares of the company’s stock after purchasing an additional 33,419 shares during the period. Jennison Associates LLC owned about 0.77% of Inari Medical worth $28,793,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. IFP Advisors Inc grew its holdings in Inari Medical by 35.7% during the 3rd quarter. IFP Advisors Inc now owns 1,939 shares of the company’s stock worth $127,000 after acquiring an additional 510 shares in the last quarter. SG Americas Securities LLC bought a new position in Inari Medical during the 3rd quarter worth about $962,000. Asset Management One Co. Ltd. grew its holdings in Inari Medical by 19.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 47,390 shares of the company’s stock worth $3,099,000 after acquiring an additional 7,720 shares in the last quarter. Brown Advisory Inc. grew its holdings in Inari Medical by 3.1% during the 3rd quarter. Brown Advisory Inc. now owns 1,446,931 shares of the company’s stock worth $94,629,000 after acquiring an additional 43,657 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Inari Medical by 18.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,397 shares of the company’s stock valued at $745,000 after buying an additional 1,755 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Inari Medical news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction on Monday, March 18th. The shares were sold at an average price of $41.13, for a total transaction of $1,645,200.00. Following the sale, the director now owns 1,003,296 shares of the company’s stock, valued at approximately $41,265,564.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 of the company’s stock, valued at approximately $7,425,802.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction on Monday, March 18th. The stock was sold at an average price of $41.13, for a total transaction of $1,645,200.00. Following the sale, the director now directly owns 1,003,296 shares in the company, valued at approximately $41,265,564.48. The disclosure for this sale can be found here. Insiders have sold a total of 47,451 shares of company stock valued at $1,949,000 in the last 90 days. 10.60% of the stock is owned by insiders.

Inari Medical Stock Performance

Inari Medical stock opened at $38.18 on Thursday. The company’s fifty day moving average price is $46.08 and its 200 day moving average price is $54.77. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $71.85. The stock has a market capitalization of $2.21 billion, a P/E ratio of -1,272.67 and a beta of 0.84.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share (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 company had revenue of $132.10 million during the quarter, compared to analyst estimates of $131.82 million. During the same period in the prior year, the business posted ($0.11) EPS. Inari Medical’s revenue was up 22.5% compared to the same quarter last year. Sell-side analysts predict that Inari Medical, Inc. will post -0.39 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Piper Sandler cut shares of Inari Medical from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $55.00 in a report on Thursday, February 29th. Truist Financial reduced 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. Canaccord Genuity Group reaffirmed a “buy” rating and set a $75.00 target price on shares of Inari Medical in a report on Friday, April 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 target price on shares of Inari Medical in a report on Wednesday, March 6th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $73.71.

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.