Connor Clark & Lunn Investment Management Ltd. Has $3.97 Million Holdings in Inari Medical, Inc. (NASDAQ:NARI)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of Inari Medical, Inc. (NASDAQ:NARI) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,734 shares of the company’s stock after selling 7,234 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.13% of Inari Medical worth $3,968,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its holdings in Inari Medical by 11.8% during the fourth 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 holdings in Inari Medical by 342.9% during the third 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 holdings in Inari Medical by 29.5% during the third 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 holdings in Inari Medical by 101.3% during the third 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 holdings in Inari Medical by 2.6% during the fourth 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 institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on NARI. Truist Financial lifted their target price on Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Baird R W lowered Inari Medical from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Canaccord Genuity Group restated a “hold” rating and issued a $80.00 price target (up from $74.00) on shares of Inari Medical in a report on Tuesday, January 7th. BTIG Research restated a “neutral” rating on shares of Inari Medical in a report on Wednesday, January 8th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $80.00 price target (up from $65.00) on shares of Inari Medical in a 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $68.00.

Inari Medical Stock Performance

NARI opened at $79.97 on Monday. Inari Medical, Inc. has a 52-week low of $36.73 and a 52-week high of $79.99. The firm has a market capitalization of $4.68 billion, a PE ratio of -59.24 and a beta of 1.02. The business’s 50-day simple moving average is $79.46 and its 200 day simple moving average is $59.01.

Insider Buying and Selling

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

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.