Essex Investment Management Co. LLC has significantly increased its position in Inari Medical, Inc. (NASDAQ:NARI) during the third quarter, according to a recent disclosure with the SEC [f352201f]. The fund now owns 104,104 shares of Inari Medical's stock, making it the 15th largest position in its portfolio [f352201f]. Inari Medical is a provider of catheter-based mechanical thrombectomy systems [f352201f]. Other institutional investors and hedge funds have also added to their stakes in the company [f352201f].
Inari Medical's stock is currently trading at $58.91 [f352201f]. Wall Street analysts have given the stock a consensus rating of 'Moderate Buy' with a price target of $81.29 [f352201f]. Insiders have sold a total of 125,899 shares of company stock valued at $7,692,883 in the last quarter [f352201f].
Bank Julius Baer & Co. Ltd Zurich has sold 93,596 shares of Tenaris S.A. (NYSE:TS) in the third quarter, reducing its position in the company by 83.5% [9de824b0]. The firm now owns 18,430 shares of Tenaris, worth $582,000 [9de824b0]. Other institutional investors have also adjusted their stakes in the company [9de824b0]. Tenaris is an industrial products company that produces and sells steel tubular products for the oil and gas industry. The stock has a market cap of $19.12 billion and a P/E ratio of 5.32. Wall Street analysts have given mixed ratings to Tenaris, with some downgrading the stock from a 'strong-buy' to a 'buy' rating, while others have initiated coverage with a 'neutral' or 'hold' rating [9de824b0].
Hong Leong Investment Bank (HLIB) Research maintains a 'buy' rating on Inari Amertron Bhd at RM3.23 with a lower target price of RM3.50 [0dc7e3fd]. Inari's 9MFY2024 core earnings of RM239 million (-8% YoY) missed expectations due to weaker-than-expected EBITDA margin [0dc7e3fd]. Inari is well positioned to benefit from the anticipated introduction of AI-capable smartphones and growth of high bandwidth opto devices in networks and data centres [0dc7e3fd]. The group is evaluating partnership opportunities with players moving into Malaysia as a result of geopolitics and the US-China trade war [0dc7e3fd]. Inari believes that Malaysia's semiconductor industry is on a promising trajectory in view of the current technology landscape shaped by AI and the trade war [0dc7e3fd] [0dc7e3fd].