Should You Consider Investing In Inari Medical (NARI)?

Baron Funds, an investment management company, released its “Baron Health Care Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined 6.01% compared to a 4.72% decline for the Russell 3000 Health Care Index. The fund’s underperformance in the quarter was attributed to poor stock selection. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron Funds highlighted stocks like Inari Medical, Inc. (NASDAQ:NARI) in its Q3 2022 investor letter. Headquartered in Irvine, California, Inari Medical, Inc. (NASDAQ:NARI) is a  medical device company. On October 14, 2022, Inari Medical, Inc. (NASDAQ:NARI) stock closed at $72.39 per share. One-month return of Inari Medical, Inc. (NASDAQ:NARI) was 5.86% and its shares lost 15.54% of their value over the last 52 weeks. Inari Medical, Inc. (NASDAQ:NARI) has a market capitalization of $3.865 billion.

Here is what Baron Funds specifically said about Inari Medical, Inc. (NASDAQ:NARI) in its Q3 2022 investor letter:

Inari Medical, Inc. (NASDAQ:NARI) makes catheter-based devices to remove clots from venous thromboembolism (VTE). VTE is the third most common vascular condition in the U.S. after heart attacks and strokes and if left untreated can be fatal. Shares held up well for the quarter. The company held an Investor Day where it unveiled products to enter several new addressable markets. The VTE treatment space is still in the early days of converting to devicebased interventions, and we believe Inari is well positioned to benefit.”

Inari Medical, Inc. (NASDAQ:NARI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held Inari Medical, Inc. (NASDAQ:NARI) at the end of the second quarter which was 21 in the previous quarter.

We discussed Inari Medical, Inc. (NASDAQ:NARI) in another article and shared the list of best healthcare stocks to buy now according to Motley Fool’s 1623 Capita. In addition, please check out our hedge fund investor letters Q3 2022 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.