Franklin Resources Inc. Grows Stake in Inari Medical, Inc. (NASDAQ:NARI)

Franklin Resources Inc. boosted its stake in shares of Inari Medical, Inc. (NASDAQ:NARI) by 2.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 223,810 shares of the company’s stock after purchasing an additional 4,899 shares during the period. Franklin Resources Inc.’s holdings in Inari Medical were worth $9,445,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Inari Medical by 7.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock valued at $234,000 after purchasing an additional 348 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of 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 during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Inari Medical by 2.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 26,000 shares of the company’s stock worth $1,252,000 after acquiring an additional 600 shares during the last quarter. Legato Capital Management LLC purchased a new position in shares of Inari Medical during the 2nd quarter worth about $397,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Inari Medical by 11.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,463 shares of the company’s stock valued at $696,000 after purchasing an additional 1,475 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on NARI. Leerink Partnrs raised shares of Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Stifel Nicolaus began coverage on Inari Medical in a research report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective on the stock. Leerink Partners started coverage on Inari Medical in a research report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 target price for the company. Finally, Piper Sandler boosted their target price on shares of Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.80.

Inari Medical Trading Up 1.9 %

Shares of Inari Medical stock opened at $55.45 on Friday. The stock’s fifty day moving average price is $50.12 and its 200-day moving average price is $48.16. The firm has a market cap of $3.25 billion, a P/E ratio of -41.07 and a beta of 0.97. Inari Medical, Inc. has a 12 month low of $36.73 and a 12 month high of $66.61.

Insiders Place Their Bets

In related news, CEO Andrew Hykes sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were 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 owns 445,310 shares of the company’s stock, valued at $22,265,500. The trade was a 0.67 % decrease in their ownership of the stock. 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 the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total value of $1,800,800.00. Following the sale, the director now owns 601,233 shares of the company’s stock, valued at approximately $27,067,509.66. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,000 shares of company stock worth $10,527,870 in the last three months. Corporate insiders own 10.60% of the company’s stock.

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.