Jennison Associates LLC Boosts Stake in Inari Medical, Inc. (NASDAQ:NARI)

Jennison Associates LLC boosted its stake in shares of Inari Medical, Inc. (NASDAQ:NARI) by 11.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,763,258 shares of the company’s stock after buying an additional 186,617 shares during the quarter. Jennison Associates LLC’s holdings in Inari Medical were worth $90,014,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. R Squared Ltd purchased a new position in shares of Inari Medical during the 4th quarter valued at about $45,000. GAMMA Investing LLC lifted its holdings in Inari Medical by 67.2% during the third quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock valued at $49,000 after purchasing an additional 473 shares in the last quarter. KBC Group NV boosted its position in shares of Inari Medical by 39.0% in the third quarter. KBC Group NV now owns 1,774 shares of the company’s stock worth $73,000 after purchasing an additional 498 shares during the period. Covestor Ltd increased its stake in shares of Inari Medical by 63.5% in the third quarter. Covestor Ltd now owns 2,384 shares of the company’s stock worth $99,000 after purchasing an additional 926 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in shares of Inari Medical by 44.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,113 shares of the company’s stock valued at $128,000 after purchasing an additional 954 shares during the period. Institutional investors own 90.98% of the company’s stock.

Insider Buying and Selling at Inari Medical

In related news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $55.29, for a total transaction of $165,870.00. Following the completion of the transaction, the chief executive officer now directly owns 439,310 shares of the company’s stock, valued at approximately $24,289,449.90. The trade was a 0.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Hoffman sold 200,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $60.47, for a total transaction of $12,094,000.00. Following the completion of the sale, the director now directly owns 238,987 shares in the company, valued at $14,451,543.89. This trade represents a 45.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 323,000 shares of company stock worth $18,669,070 over the last ninety days. Company insiders own 10.60% of the company’s stock.

Inari Medical Stock Down 0.1 %

Inari Medical stock opened at $79.62 on Tuesday. Inari Medical, Inc. has a twelve month low of $36.73 and a twelve month high of $79.76. The company’s 50-day moving average price is $63.95 and its 200-day moving average price is $52.70. The company has a market cap of $4.66 billion, a PE ratio of -58.98 and a beta of 0.97.

Analyst Upgrades and Downgrades

NARI has been the subject of a number of analyst reports. Canaccord Genuity Group reiterated a “hold” rating and issued a $80.00 price target (up previously from $74.00) on shares of Inari Medical in a research note on Tuesday, January 7th. Robert W. Baird reissued a “neutral” rating and set a $80.00 target price (down previously from $81.00) on shares of Inari Medical in a research note on Tuesday, January 7th. Oppenheimer initiated coverage on Inari Medical in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price target for the company. Baird R W cut shares of Inari Medical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, Truist Financial upped their target price on shares of Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $68.00.

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.