Inari Medical, Inc. (NASDAQ:NARI) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its position in shares of Inari Medical, Inc. (NASDAQ:NARI) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,828,075 shares of the company’s stock after selling 11,655 shares during the period. Franklin Resources Inc. owned about 4.91% of Inari Medical worth $183,599,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. increased its position in shares of Inari Medical by 47.0% during the fourth quarter. Assetmark Inc. now owns 10,454 shares of the company’s stock worth $679,000 after purchasing an additional 3,344 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of Inari Medical by 1.8% during the fourth quarter. D.A. Davidson & CO. now owns 10,570 shares of the company’s stock worth $686,000 after buying an additional 188 shares during the last quarter. Clearbridge Investments LLC purchased a new position in shares of Inari Medical during the fourth quarter worth about $11,479,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Inari Medical during the fourth quarter worth about $744,000. Finally, Norges Bank purchased a new position in shares of Inari Medical during the fourth quarter worth about $29,491,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Activity at Inari Medical

In other Inari Medical news, Director Rebecca Chambers sold 964 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $45.39, for a total transaction of $43,755.96. Following the sale, the director now owns 9,944 shares in the company, valued at approximately $451,358.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Inari Medical news, Director William Hoffman sold 40,000 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $46.60, for a total transaction of $1,864,000.00. Following the sale, the director now owns 925,359 shares in the company, valued at approximately $43,121,729.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rebecca Chambers sold 964 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $45.39, for a total value of $43,755.96. Following the sale, the director now owns 9,944 shares in the company, valued at approximately $451,358.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 132,964 shares of company stock valued at $5,751,634. 10.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NARI has been the topic of a number of research reports. Canaccord Genuity Group lowered their price target on 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 lowered their price target on Inari Medical from $72.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Wells Fargo & Company lowered their price objective on Inari Medical from $100.00 to $84.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Truist Financial lowered their price objective on Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Finally, Piper Sandler lowered their price objective on Inari Medical from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Inari Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.71.

Inari Medical Price Performance

Shares of NASDAQ:NARI opened at $47.67 on Thursday. The business’s 50 day simple moving average is $42.71 and its 200-day simple moving average is $52.59. Inari Medical, Inc. has a 12 month low of $36.73 and a 12 month high of $71.85.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.15). The firm had revenue of $143.19 million for the quarter, compared to analysts’ expectations of $138.32 million. Inari Medical had a negative return on equity of 1.65% and a negative net margin of 4.54%. Equities research analysts anticipate that Inari Medical, Inc. will post -0.41 EPS for the current fiscal year.

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.