The Manufacturers Life Insurance Company Has $32.79 Million Stock Holdings in Inari Medical, Inc. (NASDAQ:NARI)

The Manufacturers Life Insurance Company lifted its holdings in shares of Inari Medical, Inc. (NASDAQ:NARI) by 101.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 795,099 shares of the company’s stock after acquiring an additional 400,198 shares during the period. The Manufacturers Life Insurance Company’s holdings in Inari Medical were worth $32,790,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Point72 Asset Management L.P. lifted its stake in Inari Medical by 113.3% during the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock worth $71,324,000 after purchasing an additional 786,691 shares during the period. Armistice Capital LLC raised its holdings in shares of Inari Medical by 353.1% in the 2nd quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock worth $48,595,000 after buying an additional 786,501 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Inari Medical by 63.2% during the 3rd quarter. Jennison Associates LLC now owns 1,576,641 shares of the company’s stock worth $65,021,000 after buying an additional 610,468 shares during the period. First Light Asset Management LLC boosted its stake in Inari Medical by 120.8% in the 2nd quarter. First Light Asset Management LLC now owns 472,384 shares of the company’s stock valued at $22,745,000 after buying an additional 258,444 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Inari Medical by 26.8% in the second quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock valued at $47,231,000 after acquiring an additional 207,485 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Inari Medical news, Director William Hoffman sold 40,000 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the completion of the sale, the director now owns 601,233 shares in the company, valued at approximately $27,067,509.66. The trade was a 6.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mitch C. Hill sold 3,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $45.13, for a total value of $135,390.00. Following the completion of the transaction, the chief financial officer now directly owns 179,600 shares in the company, valued at approximately $8,105,348. This trade represents a 1.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 186,000 shares of company stock valued at $8,990,990 over the last 90 days. 10.60% of the stock is owned by company insiders.

Inari Medical Stock Performance

NASDAQ:NARI opened at $51.92 on Friday. The stock’s fifty day moving average price is $46.14 and its two-hundred day moving average price is $47.48. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -38.46 and a beta of 0.96. Inari Medical, Inc. has a 52-week low of $36.73 and a 52-week high of $67.13.

Analyst Ratings Changes

NARI has been the topic of several recent analyst reports. Leerink Partnrs upgraded shares of Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Piper Sandler boosted their price target on shares of Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Inari Medical in a research note on Friday, August 9th. They issued a “buy” rating and a $68.00 target price for the company. Stifel Nicolaus started coverage on Inari Medical in a research report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price target on the stock. Finally, Canaccord Genuity Group raised their price target on Inari Medical from $71.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Inari Medical presently has a consensus rating of “Hold” and a consensus target price of $58.89.

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.