Pittenger & Anderson Inc. Purchases New Stake in Inari Medical, Inc. (NASDAQ:NARI)

Pittenger & Anderson Inc. acquired a new stake in Inari Medical, Inc. (NASDAQ:NARI) during the 4th quarter, Holdings Channel reports. The fund acquired 3,310 shares of the company’s stock, valued at approximately $215,000.

Several other large investors have also bought and sold shares of the business. Fifth Third Bancorp raised its position in Inari Medical by 54.3% in the third quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock valued at $32,000 after purchasing an additional 171 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Inari Medical by 139.7% in the third quarter. Nisa Investment Advisors LLC now owns 1,189 shares of the company’s stock valued at $78,000 after purchasing an additional 693 shares during the last quarter. IFP Advisors Inc raised its position in Inari Medical by 35.7% in the third quarter. IFP Advisors Inc now owns 1,939 shares of the company’s stock valued at $127,000 after purchasing an additional 510 shares during the last quarter. Handelsinvest Investeringsforvaltning bought a new position in Inari Medical in the fourth quarter valued at about $185,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Inari Medical in the third quarter valued at about $204,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Inari Medical Stock Performance

Inari Medical stock traded down $0.11 during mid-day trading on Thursday, reaching $38.07. The stock had a trading volume of 873,494 shares, compared to its average volume of 1,131,833. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $71.85. The stock’s 50-day simple moving average is $45.68 and its 200-day simple moving average is $54.65. The firm has a market capitalization of $2.21 billion, a PE ratio of -1,270.00 and a beta of 0.84.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Inari Medical had a negative net margin of 0.33% and a positive return on equity of 1.23%. The firm had revenue of $132.10 million during the quarter, compared to analyst estimates of $131.82 million. During the same period last year, the business posted ($0.11) EPS. The company’s revenue was up 22.5% on a year-over-year basis. On average, research analysts forecast that Inari Medical, Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Inari Medical

In related news, Director William Hoffman sold 1,451 shares of Inari Medical stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $40.00, for a total transaction of $58,040.00. Following the transaction, the director now owns 999,782 shares of the company’s stock, valued at $39,991,280. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Mitch C. Hill sold 6,000 shares of Inari Medical 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 transaction, the chief financial officer now owns 181,294 shares of the company’s stock, valued at $7,425,802.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William Hoffman sold 1,451 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $40.00, for a total value of $58,040.00. Following the completion of the transaction, the director now directly owns 999,782 shares in the company, valued at approximately $39,991,280. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,451 shares of company stock valued at $1,949,000. Company insiders own 10.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Piper Sandler downgraded Inari Medical from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $85.00 to $55.00 in a research report on Thursday, February 29th. Truist Financial lowered their price objective on Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. Needham & Company LLC restated a “buy” rating and set a $72.00 price objective on shares of Inari Medical in a research report on Wednesday, March 6th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $75.00 price objective on shares of Inari Medical in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $73.71.

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.