Jennison Associates LLC Has $26.82 Million Position in Inari Medical, Inc. (NASDAQ:NARI)

Jennison Associates LLC lessened its stake in shares of Inari Medical, Inc. (NASDAQ:NARIFree Report) by 21.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 410,090 shares of the company’s stock after selling 110,606 shares during the period. Jennison Associates LLC owned 0.72% of Inari Medical worth $26,820,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NARI. Fifth Third Bancorp boosted its holdings 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 acquiring an additional 171 shares during the period. Bessemer Group Inc. grew its holdings in Inari Medical by 12.3% in the 2nd quarter. Bessemer Group Inc. now owns 1,695 shares of the company’s stock valued at $99,000 after buying an additional 186 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Inari Medical by 1.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 10,814 shares of the company’s stock worth $785,000 after buying an additional 191 shares during the period. Victory Capital Management Inc. increased its position in Inari Medical by 2.4% in the 2nd quarter. Victory Capital Management Inc. now owns 8,399 shares of the company’s stock worth $488,000 after buying an additional 198 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Inari Medical by 15.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $100,000 after buying an additional 208 shares during the last quarter. Institutional investors own 87.75% of the company’s stock.

Analyst Ratings Changes

NARI has been the topic of several research reports. Truist Financial boosted their price objective on shares of Inari Medical from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Friday, December 22nd. Piper Sandler lowered their price target on Inari Medical from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.83.

View Our Latest Report on NARI

Inari Medical Stock Performance

Shares of NASDAQ:NARI opened at $58.19 on Thursday. The company’s fifty day moving average is $61.44 and its 200-day moving average is $61.56. Inari Medical, Inc. has a 52 week low of $47.81 and a 52 week high of $71.85.

Inari Medical (NASDAQ:NARIGet Free Report) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.05 EPS for the quarter. The firm had revenue of $126.37 million for the quarter, compared to analyst estimates of $121.92 million. Inari Medical had a negative net margin of 0.59% and a negative return on equity of 0.64%. The company’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.19) earnings per share. As a group, equities research analysts anticipate that Inari Medical, Inc. will post 0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Inari Medical news, Director William Hoffman sold 25,000 shares of Inari Medical stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $61.24, for a total value of $1,531,000.00. Following the completion of the transaction, the director now owns 967,001 shares in the company, valued at approximately $59,219,141.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Inari Medical news, Director William Hoffman sold 25,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $61.24, for a total transaction of $1,531,000.00. Following the sale, the director now owns 967,001 shares of the company’s stock, valued at approximately $59,219,141.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mitch C. Hill sold 6,500 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $62.75, for a total transaction of $407,875.00. Following the completion of the transaction, the chief financial officer now directly owns 170,230 shares of the company’s stock, valued at $10,681,932.50. The disclosure for this sale can be found here. Insiders have sold a total of 125,899 shares of company stock worth $7,692,883 in the last three months. Insiders own 11.90% of the company’s stock.

Inari Medical Profile

(Free Report)

Inari Medical, Inc builds minimally invasive, novel, and catheter-based mechanical thrombectomy systems for the specific disease states in the United States. The company provides ClotTriever, which is designed to core, capture, and remove large clots from large vessels for treatment of deep vein thrombosis and peripheral thrombus; and FlowTriever, 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.

See Also

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Institutional Ownership by Quarter for Inari Medical (NASDAQ:NARI)

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