Ontario Teachers Pension Plan Board Has $2.88 Million Stake in Inari Medical, Inc. (NASDAQ:NARI)

Ontario Teachers Pension Plan Board raised its position in shares of Inari Medical, Inc. (NASDAQ:NARI) by 316.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,373 shares of the company’s stock after purchasing an additional 33,714 shares during the period. Ontario Teachers Pension Plan Board owned approximately 0.08% of Inari Medical worth $2,881,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NARI. Fifth Third Bancorp raised its position in Inari Medical by 54.3% during the third quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock valued at $32,000 after purchasing an additional 171 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Inari Medical by 27.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock valued at $71,000 after purchasing an additional 236 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Inari Medical by 139.7% during the third quarter. Nisa Investment Advisors LLC now owns 1,189 shares of the company’s stock valued at $78,000 after purchasing an additional 693 shares in the last quarter. Handelsinvest Investeringsforvaltning acquired a new position in Inari Medical during the fourth quarter valued at approximately $185,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Inari Medical during the third quarter valued at approximately $204,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Inari Medical Stock Performance

NARI traded down $0.23 during trading on Thursday, reaching $47.44. 225,125 shares of the stock traded hands, compared to its average volume of 1,136,513. The stock’s 50-day moving average is $42.71 and its 200 day moving average is $52.59. Inari Medical, Inc. has a 12 month low of $36.73 and a 12 month high of $71.85.

Inari Medical (NASDAQ:NARI) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.15). The firm had revenue of $143.19 million for the quarter, compared to the consensus estimate of $138.32 million. Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. As a group, analysts predict that Inari Medical, Inc. will post -0.41 EPS for the current year.

Insider Buying and Selling at Inari Medical

In other news, CFO Mitch C. Hill sold 6,000 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $40.96, for a total transaction of $245,760.00. Following the transaction, the chief financial officer now owns 181,294 shares in the company, valued at $7,425,802.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Mitch C. Hill sold 6,000 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $40.96, for a total value of $245,760.00. Following the sale, the chief financial officer now owns 181,294 shares in the company, valued at approximately $7,425,802.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $46.60, for a total transaction of $1,864,000.00. Following the completion of the sale, the director now owns 925,359 shares in the company, valued at approximately $43,121,729.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 132,964 shares of company stock valued at $5,751,634. 10.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price target on shares of Inari Medical from $100.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Piper Sandler lowered their price target on shares of Inari Medical from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Truist Financial lowered their price target on shares of Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Needham & Company LLC lowered their price target on shares of Inari Medical from $72.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Canaccord Genuity Group reduced their price objective on shares of Inari Medical from $75.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.71.

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.