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

EntryPoint Capital LLC bought a new stake in Inari Medical, Inc. (NASDAQ:NARI) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,595 shares of the company’s stock, valued at approximately $388,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Prudential Financial Inc. raised its stake in shares of Inari Medical by 9.2% during the 4th quarter. Prudential Financial Inc. now owns 170,400 shares of the company’s stock worth $8,699,000 after buying an additional 14,290 shares during the last quarter. Vanguard Group Inc. raised its position in Inari Medical by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 5,628,875 shares of the company’s stock worth $287,354,000 after acquiring an additional 30,702 shares during the last quarter. Fox Run Management L.L.C. lifted its holdings in shares of Inari Medical by 97.9% in the fourth quarter. Fox Run Management L.L.C. now owns 15,826 shares of the company’s stock valued at $808,000 after purchasing an additional 7,830 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Inari Medical in the fourth quarter valued at about $556,000. Finally, Sei Investments Co. grew its position in shares of Inari Medical by 1.3% in the fourth quarter. Sei Investments Co. now owns 57,566 shares of the company’s stock valued at $2,939,000 after purchasing an additional 727 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director William Hoffman sold 200,000 shares of the company’s stock in a transaction on 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 represents a 45.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 10.60% of the stock is currently owned by insiders.

Inari Medical Stock Performance

NARI opened at $79.97 on Thursday. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $79.99. The company’s 50 day simple moving average is $79.85 and its 200 day simple moving average is $60.95. The stock has a market capitalization of $4.68 billion, a PE ratio of -59.24 and a beta of 1.02.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Truist Financial lifted 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. Wells Fargo & Company restated an “equal weight” rating and issued a $80.00 price objective (up from $65.00) on shares of Inari Medical in a research report on Tuesday, January 7th. William Blair reiterated a “market perform” rating on shares of Inari Medical in a research report on Tuesday, January 7th. Piper Sandler upped their target price on shares of Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, Oppenheimer assumed coverage on shares of Inari Medical in a report on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price target for the company. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Inari Medical currently has an average rating of “Hold” and an average price target of $68.00.

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.