Bridgewater Associates LP Reduces Stake in Inari Medical, Inc. (NASDAQ:NARI)

Bridgewater Associates LP cut its stake in shares of Inari Medical, Inc. (NASDAQ:NARI) by 30.2% during the fourth quarter, HoldingsChannel reports. The firm owned 5,730 shares of the company’s stock after selling 2,478 shares during the quarter. Bridgewater Associates LP’s holdings in Inari Medical were worth $293,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in Inari Medical by 128.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 634 shares of the company’s stock valued at $33,000 after buying an additional 356 shares during the period. R Squared Ltd bought a new position in Inari Medical during the fourth quarter valued at $45,000. Quadrant Capital Group LLC raised its stake in shares of Inari Medical by 12.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,301 shares of the company’s stock valued at $66,000 after acquiring an additional 143 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Inari Medical by 66.8% in the 4th quarter. GAMMA Investing LLC now owns 1,963 shares of the company’s stock worth $100,000 after acquiring an additional 786 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Inari Medical by 31.5% during the 4th quarter. KBC Group NV now owns 2,333 shares of the company’s stock worth $119,000 after purchasing an additional 559 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

NARI has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on shares of Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Wells Fargo & Company reissued an “equal weight” rating and set a $80.00 price target (up from $65.00) on shares of Inari Medical in a research note on Tuesday, January 7th. Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 price objective (down previously from $81.00) on shares of Inari Medical in a research report on Tuesday, January 7th. Baird R W downgraded Inari Medical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, BTIG Research restated a “neutral” rating on shares of Inari Medical in a report on Wednesday, January 8th. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $68.00.

Inari Medical Price Performance

Shares of Inari Medical stock opened at $79.97 on Monday. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of -59.24 and a beta of 1.02. The firm’s 50-day moving average is $79.97 and its two-hundred day moving average is $65.81. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $79.99.

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.