Bamco Inc. NY Increases Holdings in Inari Medical, Inc. (NASDAQ:NARI)

Bamco Inc. NY lifted its position in Inari Medical, Inc. (NASDAQ:NARI) by 27.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 777,152 shares of the company’s stock after purchasing an additional 167,000 shares during the period. Bamco Inc. NY’s holdings in Inari Medical were worth $37,288,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NARI. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Inari Medical during the 1st quarter worth $30,000. Benjamin F. Edwards & Company Inc. increased its holdings in Inari Medical by 27.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock valued at $71,000 after buying an additional 236 shares during the period. Covestor Ltd raised its stake in Inari Medical by 30.2% in the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after buying an additional 376 shares in the last quarter. Bessemer Group Inc. lifted its holdings in Inari Medical by 16.4% during the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock worth $117,000 after buying an additional 344 shares during the period. Finally, Clear Street Markets LLC purchased a new position in shares of Inari Medical in the 4th quarter valued at $198,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Inari Medical Stock Down 2.5 %

Shares of Inari Medical stock traded down $1.37 during midday trading on Friday, hitting $53.83. The company had a trading volume of 1,048,604 shares, compared to its average volume of 763,954. The company has a fifty day simple moving average of $49.94 and a 200 day simple moving average of $48.86. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of -131.29 and a beta of 1.01. Inari Medical, Inc. has a 12-month low of $36.73 and a 12-month high of $71.85.

Inari Medical (NASDAQ:NARI) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.15). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. The company had revenue of $143.19 million for the quarter, compared to analyst estimates of $138.32 million. As a group, analysts expect that Inari Medical, Inc. will post -0.41 EPS for the current year.

Insider Buying and Selling

In other Inari Medical news, Director William Hoffman sold 38,549 shares of Inari Medical stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $42.00, for a total transaction of $1,619,058.00. Following the completion of the sale, the director now owns 965,359 shares of the company’s stock, valued at approximately $40,545,078. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director William Hoffman sold 38,549 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $42.00, for a total value of $1,619,058.00. Following the completion of the transaction, the director now directly owns 965,359 shares in the company, valued at $40,545,078. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $55.23, for a total value of $165,690.00. Following the completion of the sale, the chief executive officer now owns 455,252 shares in the company, valued at approximately $25,143,567.96. The disclosure for this sale can be found here. Insiders sold 261,293 shares of company stock worth $13,113,558 in the last 90 days. Insiders own 10.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NARI. Needham & Company LLC lowered Inari Medical from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th. Wells Fargo & Company decreased their price target on shares of Inari Medical from $100.00 to $84.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Piper Sandler cut their price objective on shares of Inari Medical from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Canaccord Genuity Group decreased their target price on shares of Inari Medical from $75.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, William Blair initiated coverage on shares of Inari Medical in a report on Thursday. They issued an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Inari Medical presently has a consensus rating of “Moderate Buy” and an average target price of $64.83.

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.