Evoke Wealth LLC Grows Position in Inari Medical, Inc. (NASDAQ:NARI)

Evoke Wealth LLC lifted its holdings in shares of Inari Medical, Inc. (NASDAQ:NARI) by 207.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 192,926 shares of the company’s stock after purchasing an additional 130,186 shares during the quarter. Evoke Wealth LLC’s holdings in Inari Medical were worth $9,849,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Jennison Associates LLC lifted its stake in Inari Medical by 11.8% during the 4th quarter. Jennison Associates LLC now owns 1,763,258 shares of the company’s stock worth $90,014,000 after acquiring an additional 186,617 shares in the last quarter. Vestal Point Capital LP lifted its stake in Inari Medical by 342.9% during the 3rd quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock worth $63,922,000 after acquiring an additional 1,200,000 shares in the last quarter. Bamco Inc. NY lifted its stake in Inari Medical by 29.5% during the 3rd quarter. Bamco Inc. NY now owns 1,006,129 shares of the company’s stock worth $41,493,000 after acquiring an additional 228,977 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Inari Medical by 101.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company’s stock worth $32,790,000 after acquiring an additional 400,198 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Inari Medical by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 465,962 shares of the company’s stock worth $23,787,000 after acquiring an additional 11,990 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Inari Medical Price Performance

NASDAQ:NARI opened at $79.97 on Tuesday. The stock’s 50 day moving average price is $79.76 and its 200 day moving average price is $59.27. The company has a market capitalization of $4.68 billion, a PE ratio of -59.24 and a beta of 1.02. Inari Medical, Inc. has a 52-week low of $36.73 and a 52-week high of $79.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NARI shares. Oppenheimer started coverage on Inari Medical in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price target on the stock. Piper Sandler increased their price target on Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $80.00 price target (up previously from $74.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Truist Financial increased their price target on Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Finally, Baird R W lowered Inari Medical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.00.

Insider Buying and Selling

In other Inari Medical news, Director William Hoffman sold 200,000 shares of Inari Medical stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $60.47, for a total value of $12,094,000.00. Following the transaction, the director now directly owns 238,987 shares in the company, valued at approximately $14,451,543.89. This trade represents a 45.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $55.29, for a total value of $165,870.00. Following the completion of the transaction, the chief executive officer now owns 439,310 shares in the company, valued at $24,289,449.90. This trade represents a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.60% of the stock is currently owned by company insiders.

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.