Alliancebernstein L.P. Raises Stock Holdings in Inari Medical, Inc. (NASDAQ:NARI)

Alliancebernstein L.P. lifted its holdings in shares of Inari Medical, Inc. (NASDAQ:NARI) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,369,874 shares of the company’s stock after purchasing an additional 122,075 shares during the quarter. Alliancebernstein L.P. owned 4.75% of Inari Medical worth $192,197,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Jennison Associates LLC bought a new position in shares of Inari Medical during the third quarter valued at approximately $22,329,000. Deutsche Bank AG grew its stake in shares of Inari Medical by 81.6% in the second quarter. Deutsche Bank AG now owns 201,102 shares of the company’s stock worth $18,759,000 after acquiring an additional 90,363 shares during the last quarter. Capital International Investors grew its stake in shares of Inari Medical by 13.8% in the second quarter. Capital International Investors now owns 512,050 shares of the company’s stock worth $47,764,000 after acquiring an additional 62,050 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Inari Medical by 30.3% during the second quarter. UBS Asset Management Americas Inc. now owns 19,229 shares of the company’s stock valued at $1,794,000 after buying an additional 4,470 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its position in Inari Medical by 186,980.0% in the second quarter. Metropolitan Life Insurance Co NY now owns 9,354 shares of the company’s stock worth $873,000 after purchasing an additional 9,349 shares during the last quarter. 69.77% of the stock is owned by institutional investors and hedge funds.

Several analysts recently issued reports on the company. SVB Leerink lifted their target price on Inari Medical from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, November 10th. Zacks Investment Research cut Inari Medical from a “hold” rating to a “strong sell” rating and set a $76.00 price objective for the company. in a report on Tuesday. Finally, BTIG Research reissued a “buy” rating and issued a $139.00 price target on shares of Inari Medical in a research report on Monday, November 29th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $120.17.

In other news, COO Andrew Hykes sold 9,000 shares of the company’s stock in a transaction on Tuesday, October 19th. The stock was sold at an average price of $87.76, for a total transaction of $789,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Hoffman sold 25,778 shares of the company’s stock in a transaction on Wednesday, October 20th. The stock was sold at an average price of $90.10, for a total transaction of $2,322,597.80. The disclosure for this sale can be found here. Insiders have sold a total of 196,000 shares of company stock worth $16,758,176 in the last three months. Corporate insiders own 23.20% of the company’s stock.

Shares of Inari Medical stock opened at $77.89 on Friday. Inari Medical, Inc. has a fifty-two week low of $68.44 and a fifty-two week high of $127.42. The stock has a 50 day moving average of $85.89 and a 200 day moving average of $85.17. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 288.49 and a beta of 1.94.

Inari Medical (NASDAQ:NARI) last posted its earnings results on Tuesday, November 9th. The company reported ($0.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.05. Inari Medical had a return on equity of 7.23% and a net margin of 6.49%. The business had revenue of $72.92 million for the quarter, compared to analysts’ expectations of $62.16 million. During the same quarter in the previous year, the firm earned $0.12 earnings per share. Equities research analysts predict that Inari Medical, Inc. will post 0.19 earnings per share for the current fiscal year.

About Inari Medical

Inari Medical, Inc, a commercial-stage medical device company, focuses on developing products to treat and transform the lives of patients suffering from venous diseases in the United States. It offers ClotTriever for treatment of deep vein thrombosis; and FlowTriever, a thrombectomy system for treatment of pulmonary embolism.

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Institutional Ownership by Quarter for Inari Medical (NASDAQ:NARI)

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