Jennison Associates LLC Raises Stock Holdings in Inari Medical, Inc. (NASDAQ:NARI)

Jennison Associates LLC boosted its stake in Inari Medical, Inc. (NASDAQ:NARI) by 11.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,763,258 shares of the company’s stock after purchasing an additional 186,617 shares during the quarter. Jennison Associates LLC owned about 3.01% of Inari Medical worth $90,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. R Squared Ltd bought a new stake in shares of Inari Medical during the 4th quarter worth $45,000. GAMMA Investing LLC boosted its holdings in shares of Inari Medical by 67.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock worth $49,000 after purchasing an additional 473 shares in the last quarter. KBC Group NV increased its position in shares of Inari Medical by 39.0% during the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock valued at $73,000 after purchasing an additional 498 shares during the last quarter. Covestor Ltd raised its holdings in shares of Inari Medical by 63.5% during the 3rd quarter. Covestor Ltd now owns 2,384 shares of the company’s stock valued at $99,000 after buying an additional 926 shares in the last quarter. Finally, Values First Advisors Inc. bought a new stake in Inari Medical in the 3rd quarter worth approximately $128,000. 90.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction that occurred on 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 in the company, valued at approximately $24,289,449.90. This trade represents a 0.68 % 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, Director William Hoffman sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $60.47, for a total value of $12,094,000.00. Following the completion of the sale, the director now directly owns 238,987 shares in the company, valued at approximately $14,451,543.89. This represents a 45.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 323,000 shares of company stock worth $18,669,070. Company insiders own 10.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on NARI shares. Oppenheimer assumed coverage on shares of Inari Medical in a research note on Tuesday, December 17th. They set an “outperform” rating and a $75.00 price target on the stock. William Blair reissued a “market perform” rating on shares of Inari Medical in a research note on Tuesday, January 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Robert W. Baird restated a “neutral” rating and set a $80.00 target price (down from $81.00) on shares of Inari Medical in a report on Tuesday, January 7th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $80.00 price target (up from $65.00) on shares of Inari Medical in a research note on Tuesday, January 7th. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $68.00.

Inari Medical Trading Down 0.1 %

Shares of NASDAQ NARI opened at $79.62 on Tuesday. Inari Medical, Inc. has a 12 month low of $36.73 and a 12 month high of $79.76. The firm has a market capitalization of $4.66 billion, a PE ratio of -58.98 and a beta of 0.97. The firm has a fifty day simple moving average of $63.95 and a two-hundred day simple moving average of $52.70.

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.