Lisanti Capital Growth LLC Has $2.15 Million Stake in Inari Medical, Inc. (NASDAQ:NARI)

Lisanti Capital Growth LLC lowered its position in Inari Medical, Inc. (NASDAQ:NARI) by 66.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,145 shares of the company’s stock after selling 66,510 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Inari Medical were worth $2,152,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NARI. Fifth Third Bancorp lifted its stake in Inari Medical by 54.3% in the 3rd 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. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Inari Medical by 27.4% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock worth $71,000 after acquiring an additional 236 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of 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 last quarter. Handelsinvest Investeringsforvaltning bought a new stake in Inari Medical in the 4th quarter valued at $185,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Inari Medical during the 3rd quarter valued at $204,000. Institutional investors own 90.98% of the company’s stock.

Insider Activity at Inari Medical

In other news, CFO Mitch C. Hill sold 6,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 181,294 shares of the company’s stock, valued at approximately $7,425,802.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Mitch C. Hill sold 6,000 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $40.96, for a total value of $245,760.00. Following the completion of the transaction, the chief financial officer now owns 181,294 shares of the company’s stock, valued at approximately $7,425,802.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William Hoffman sold 38,549 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $42.00, for a total transaction of $1,619,058.00. Following the completion of the sale, the director now owns 965,359 shares in the company, valued at approximately $40,545,078. The disclosure for this sale can be found here. Insiders have sold 86,000 shares of company stock valued at $3,568,058 over the last three months. 10.60% of the stock is owned by insiders.

Inari Medical Stock Performance

Shares of NASDAQ NARI traded up $0.97 during mid-day trading on Tuesday, reaching $42.81. The company had a trading volume of 922,532 shares, compared to its average volume of 1,172,938. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -102.68 and a beta of 0.93. The business’s 50-day simple moving average is $42.83 and its 200 day simple moving average is $53.53. Inari Medical, Inc. has a one year low of $36.73 and a one year high of $71.85.

Inari Medical (NASDAQ:NARI) last released its earnings results on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $132.10 million during the quarter, compared to the consensus estimate of $131.82 million. During the same period in the prior year, the business earned ($0.11) earnings per share. Inari Medical’s quarterly revenue was up 22.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Inari Medical, Inc. will post -0.41 EPS for the current year.

Analysts Set New Price Targets

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

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.