Inari Medical, Inc. (NASDAQ:NARI) Shares Sold by LMR Partners LLP

LMR Partners LLP cut its stake in Inari Medical, Inc. (NASDAQ:NARI) by 45.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,861 shares of the company’s stock after selling 22,590 shares during the period. LMR Partners LLP’s holdings in Inari Medical were worth $1,108,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NARI. Quest Partners LLC boosted its stake in Inari Medical by 84.6% during the third quarter. Quest Partners LLC now owns 4,051 shares of the company’s stock valued at $167,000 after buying an additional 1,856 shares in the last quarter. KBC Group NV lifted its holdings in Inari Medical by 39.0% in 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. Aigen Investment Management LP bought a new position in shares of Inari Medical during the 3rd quarter valued at about $428,000. Versor Investments LP bought a new position in shares of Inari Medical during the 3rd quarter valued at about $396,000. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Inari Medical by 23.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 46,087 shares of the company’s stock worth $1,901,000 after purchasing an additional 8,830 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Ratings Changes

NARI has been the subject of several recent research reports. Canaccord Genuity Group increased their target price on shares of Inari Medical from $71.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research report on Tuesday, October 29th. Stifel Nicolaus assumed coverage on Inari Medical in a report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Inari Medical in a report on Friday, August 9th. They set a “buy” rating and a $68.00 target price for the company. Finally, William Blair initiated coverage on Inari Medical in a research note on Thursday, July 25th. They issued an “outperform” rating on the stock. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $58.89.

Insider Activity at Inari Medical

In related news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction 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 completion of the sale, the director now owns 561,233 shares of the company’s stock, valued at approximately $28,089,711.65. This trade represents a 6.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $22,265,500. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 126,000 shares of company stock valued at $5,921,390. Corporate insiders own 10.60% of the company’s stock.

Inari Medical Price Performance

NASDAQ:NARI opened at $50.97 on Wednesday. The stock’s 50-day moving average is $45.45 and its two-hundred day moving average is $47.17. The stock has a market cap of $2.98 billion, a PE ratio of -37.76 and a beta of 0.96. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $67.13.

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.