Inari Medical, Inc. (NASDAQ:NARI) Shares Sold by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC cut its stake in shares of Inari Medical, Inc. (NASDAQ:NARI) by 66.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,145 shares of the company’s stock after selling 66,510 shares during the quarter. Lisanti Capital Growth LLC owned approximately 0.06% of Inari Medical worth $2,152,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp grew its position in Inari Medical by 54.3% in the 3rd quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock worth $32,000 after purchasing an additional 171 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Inari Medical by 27.4% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock valued at $71,000 after acquiring an additional 236 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Inari Medical by 139.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,189 shares of the company’s stock worth $78,000 after acquiring an additional 693 shares during the period. Handelsinvest Investeringsforvaltning bought a new position in shares of Inari Medical in the fourth quarter worth $185,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Inari Medical during the third quarter valued at $204,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Inari Medical Price Performance

Shares of NASDAQ:NARI traded up $0.97 on Tuesday, reaching $42.81. 922,532 shares of the company traded hands, compared to its average volume of 1,172,938. The stock has a market capitalization of $2.49 billion, a PE ratio of -102.68 and a beta of 0.93. The company’s 50 day moving average is $42.83 and its 200-day moving average is $53.53. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $71.85.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. The company had revenue of $132.10 million during the quarter, compared to analyst estimates of $131.82 million. During the same quarter last year, the business earned ($0.11) EPS. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. As a group, analysts expect that Inari Medical, Inc. will post -0.41 EPS for the current year.

Insider Activity

In other news, Director William Hoffman sold 40,000 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $41.13, for a total value of $1,645,200.00. Following the completion of the sale, the director now owns 1,003,296 shares in the company, valued at $41,265,564.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Inari Medical news, Director William Hoffman sold 40,000 shares of Inari Medical stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $41.13, for a total transaction of $1,645,200.00. Following the transaction, the director now owns 1,003,296 shares of the company’s stock, valued at approximately $41,265,564.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mitch C. Hill sold 6,000 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $40.96, for a total transaction of $245,760.00. Following the completion of the sale, the chief financial officer now directly owns 181,294 shares of the company’s stock, valued at $7,425,802.24. The disclosure for this sale can be found here. Insiders have sold 86,000 shares of company stock worth $3,568,058 over the last 90 days. 10.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Inari Medical from $100.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Canaccord Genuity Group decreased their price objective on shares of Inari Medical from $75.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Truist Financial dropped their target price on Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Piper Sandler decreased their price target on Inari Medical from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, Needham & Company LLC dropped their price objective on Inari Medical from $72.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Inari Medical has an average rating of “Moderate Buy” and an average price target of $65.71.

About Inari Medical

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.