Quantbot Technologies LP Makes New $1.25 Million Investment in Inari Medical, Inc. (NASDAQ:NARI)

Quantbot Technologies LP bought a new stake in shares of Inari Medical, Inc. (NASDAQ:NARI) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 30,273 shares of the company’s stock, valued at approximately $1,248,000. Quantbot Technologies LP owned approximately 0.05% of Inari Medical at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in Inari Medical by 101.3% in the third quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company’s stock valued at $32,790,000 after buying an additional 400,198 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Inari Medical in the 3rd quarter valued at about $1,397,000. Algert Global LLC raised its holdings in Inari Medical by 38.2% in the 3rd quarter. Algert Global LLC now owns 44,106 shares of the company’s stock worth $1,819,000 after purchasing an additional 12,180 shares during the period. Cerity Partners LLC boosted its position in Inari Medical by 2.8% during the third quarter. Cerity Partners LLC now owns 24,056 shares of the company’s stock worth $992,000 after purchasing an additional 652 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Inari Medical by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 453,972 shares of the company’s stock valued at $18,722,000 after purchasing an additional 1,783 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NARI. Deutsche Bank Aktiengesellschaft started coverage on Inari Medical in a research report on Friday, August 9th. They set a “buy” rating and a $68.00 target price on the stock. Leerink Partners started coverage on shares of Inari Medical in a report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price objective on the stock. Stifel Nicolaus began coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They set a “hold” rating and a $50.00 target price for the company. Canaccord Genuity Group raised their price target on shares of Inari Medical from $71.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, Leerink Partnrs upgraded Inari Medical to a “hold” rating in a report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Inari Medical presently has an average rating of “Hold” and a consensus price target of $58.89.

Inari Medical Price Performance

NARI opened at $51.92 on Friday. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -38.46 and a beta of 0.96. The company’s 50 day simple moving average is $46.31 and its two-hundred day simple moving average is $47.52. Inari Medical, Inc. has a 1-year low of $36.73 and a 1-year high of $67.13.

Insider Activity at Inari Medical

In other Inari Medical news, Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $45.83, for a total value of $1,833,200.00. Following the completion of the sale, the director now directly owns 643,296 shares of the company’s stock, valued at $29,482,255.68. This trade represents a 5.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mitch C. Hill sold 3,000 shares of Inari Medical stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $45.13, for a total value of $135,390.00. Following the transaction, the chief financial officer now owns 179,600 shares in the company, valued at approximately $8,105,348. This represents a 1.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 186,000 shares of company stock valued at $8,990,990. 10.60% of the stock is currently owned by insiders.

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.