Lisanti Capital Growth LLC Makes New Investment in Inari Medical, Inc. (NASDAQ:NARI)

Lisanti Capital Growth LLC purchased a new position in shares of Inari Medical, Inc. (NASDAQ:NARI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 77,755 shares of the company’s stock, valued at approximately $3,969,000. Lisanti Capital Growth LLC owned 0.13% of Inari Medical at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in Inari Medical during the 4th quarter worth about $1,001,000. Arizona State Retirement System increased its holdings in Inari Medical by 0.9% during the 4th quarter. Arizona State Retirement System now owns 15,196 shares of the company’s stock worth $776,000 after purchasing an additional 129 shares during the period. Assetmark Inc. increased its holdings in Inari Medical by 5.6% during the 4th quarter. Assetmark Inc. now owns 20,473 shares of the company’s stock worth $1,045,000 after purchasing an additional 1,091 shares during the period. Keybank National Association OH purchased a new stake in Inari Medical during the 4th quarter worth about $321,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Inari Medical by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 465,962 shares of the company’s stock worth $23,787,000 after purchasing an additional 11,990 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Activity at Inari Medical

In other Inari Medical news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $55.29, for a total transaction of $165,870.00. Following the completion of the sale, the chief executive officer now directly owns 439,310 shares of the company’s stock, valued at approximately $24,289,449.90. This trade represents a 0.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Hoffman sold 60,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $55.66, for a total value of $3,339,600.00. Following the sale, the director now directly owns 441,233 shares of the company’s stock, valued at $24,559,028.78. The trade was a 11.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,000 shares of company stock valued at $15,599,470 in the last three months. 10.60% of the stock is currently owned by company insiders.

Inari Medical Price Performance

Shares of NASDAQ NARI opened at $79.97 on Friday. The stock has a market cap of $4.68 billion, a PE ratio of -59.24 and a beta of 1.02. Inari Medical, Inc. has a 52-week low of $36.73 and a 52-week high of $79.99. The business has a 50-day moving average price of $75.52 and a 200 day moving average price of $57.24.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NARI. William Blair restated a “market perform” rating on shares of Inari Medical in a report on Tuesday, January 7th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $80.00 price objective (up from $74.00) on shares of Inari Medical in a research report on Tuesday, January 7th. BTIG Research reaffirmed a “neutral” rating on shares of Inari Medical in a research report on Wednesday, January 8th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $80.00 price objective (up from $65.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Finally, Truist Financial upped their price objective on Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.