Is Inari Medical (NARI) a Worthy Investment?

ClearBridge Investments, an investment management company, released its “ClearBridge Small Cap Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The Strategy lagged behind the benchmark in the quarter due to the decline in consumer staples and health care, which was somewhat offset by strength in financials and industrials. The Strategy posted gains in six of the nine sectors in which it was invested on an absolute basis. Overall stock selection detracted from performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.

ClearBridge Small Cap Growth Strategy featured stocks such as Inari Medical, Inc. (NASDAQ:NARI) in the fourth quarter 2023 investor letter. Headquartered in Irvine, California, Inari Medical, Inc. (NASDAQ:NARI) is a medical device company. On January 12, 2024, Inari Medical, Inc. (NASDAQ:NARI) stock closed at $57.85 per share. One-month return of Inari Medical, Inc. (NASDAQ:NARI) was -10.90%, and its shares lost 13.72% of their value over the last 52 weeks. Inari Medical, Inc. (NASDAQ:NARI) has a market capitalization of $3.332 billion.

ClearBridge Small Cap Growth Strategy stated the following regarding Inari Medical, Inc. (NASDAQ:NARI) in its fourth quarter 2023 investor letter:

“In the fourth quarter we initiated four new investments: Inari Medical, Inc. (NASDAQ:NARI), Blackbaud, Mirum Pharmaceuticals and Installed Building Products. Inari Medical is a medical device company with a core focus on treating venous thromboembolism, or blood clots. With a history of innovation, several approved products and safety/efficacy advantages versus current standards of care, the company is seeing robust revenue growth as the product further penetrates its sizable market opportunity.”

A skilled surgeon surrounded by a team of medical professionals performing a Transcatheter Heart Valve Replacement.

Inari Medical, Inc. (NASDAQ:NARI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held Inari Medical, Inc. (NASDAQ:NARI) at the end of third quarter which was 31 in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.