LMR Partners LLP Decreases Stake in Inari Medical, Inc. (NASDAQ:NARI)

LMR Partners LLP trimmed its holdings in shares of Inari Medical, Inc. (NASDAQ:NARI) by 45.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,861 shares of the company’s stock after selling 22,590 shares during the quarter. LMR Partners LLP’s holdings in Inari Medical were worth $1,108,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of NARI. GAMMA Investing LLC raised its position in shares of Inari Medical by 164.7% in the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after purchasing an additional 438 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Inari Medical by 83.5% in the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after acquiring an additional 435 shares in the last quarter. KBC Group NV boosted its stake in Inari Medical by 39.0% during the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock valued at $73,000 after acquiring an additional 498 shares during the last quarter. Covestor Ltd grew its holdings in Inari Medical by 30.2% during the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after acquiring an additional 376 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Inari Medical by 39.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after purchasing an additional 522 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Buying and Selling at Inari Medical

In other news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.05, for a total transaction of $2,002,000.00. Following the sale, the director now owns 561,233 shares of the company’s stock, valued at approximately $28,089,711.65. The trade was a 6.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. Following the completion of the transaction, the chief executive officer now directly owns 445,310 shares of the company’s stock, valued at $22,265,500. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 126,000 shares of company stock valued at $5,921,390 in the last ninety days. Company insiders own 10.60% of the company’s stock.

Inari Medical Stock Performance

Shares of NARI opened at $50.97 on Wednesday. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $67.13. The firm has a fifty day moving average of $45.45 and a 200-day moving average of $47.17. The company has a market cap of $2.98 billion, a price-to-earnings ratio of -37.76 and a beta of 0.96.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NARI. Deutsche Bank Aktiengesellschaft began coverage on shares of Inari Medical in a research report on Friday, August 9th. They set a “buy” rating and a $68.00 price target on the stock. Canaccord Genuity Group lifted their target price on Inari Medical from $71.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Wells Fargo & Company dropped their price target on Inari Medical from $84.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Piper Sandler lifted their price objective on shares of Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Robert W. Baird increased their target price on shares of Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $58.89.

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.