Edgestream Partners L.P. Makes New $776,000 Investment in Inari Medical, Inc. (NASDAQ:NARI)

Edgestream Partners L.P. acquired a new stake in shares of Inari Medical, Inc. (NASDAQ:NARI) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,808 shares of the company’s stock, valued at approximately $776,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NARI. Wealth Enhancement Advisory Services LLC boosted its holdings in Inari Medical by 7.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock worth $234,000 after acquiring an additional 348 shares in the last quarter. Arizona State Retirement System increased its stake in Inari Medical by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock valued at $703,000 after purchasing an additional 358 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Inari Medical by 83.5% during the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after buying an additional 435 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Inari Medical by 164.7% in the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after buying an additional 438 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Inari Medical by 39.0% during the third quarter. KBC Group NV now owns 1,774 shares of the company’s stock valued at $73,000 after buying an additional 498 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Truist Financial raised their price target on shares of Inari Medical from $46.00 to $50.00 and gave the company a “hold” rating in a research report on Tuesday, October 29th. Piper Sandler raised their target price on Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft began coverage on Inari Medical in a report on Friday, August 9th. They set a “buy” rating and a $68.00 price target for the company. Leerink Partnrs upgraded Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Finally, Stifel Nicolaus began coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They issued a “hold” rating and a $50.00 target price for the company. Six equities 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $58.89.

Inari Medical Stock Performance

NARI opened at $52.20 on Thursday. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $67.13. The firm has a 50-day moving average of $46.88 and a 200 day moving average of $47.65. The firm has a market cap of $3.06 billion, a P/E ratio of -38.67 and a beta of 0.97.

Insider Activity

In other news, Director William Hoffman sold 60,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $51.16, for a total transaction of $3,069,600.00. Following the transaction, the director now owns 501,233 shares of the company’s stock, valued at $25,643,080.28. This represents a 10.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. Following the transaction, the chief executive officer now owns 445,310 shares of the company’s stock, valued at $22,265,500. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 186,000 shares of company stock valued at $8,990,990 in the last three months. Company insiders own 10.60% of the company’s stock.

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.