Inari Medical, Inc. (NASDAQ:NARI) Director Sells $1,833,200.00 in Stock

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.83, for a total value of $1,833,200.00. Following the completion of the sale, the director now directly owns 643,296 shares in the company, valued at approximately $29,482,255.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

William Hoffman also recently made the following trade(s):

• On Tuesday, July 16th, William Hoffman sold 60,000 shares of Inari Medical stock. The shares were sold at an average price of $56.74, for a total value of $3,404,400.00.
• On Monday, July 1st, William Hoffman sold 20,000 shares of Inari Medical stock. The shares were sold at an average price of $50.15, for a total value of $1,003,000.00.

Inari Medical Stock Down 0.4 %

Shares of NASDAQ:NARI opened at $43.68 on Friday. The business has a fifty day simple moving average of $48.04 and a 200 day simple moving average of $46.07. Inari Medical, Inc. has a 12-month low of $36.73 and a 12-month high of $69.40. The firm has a market cap of $2.54 billion, a P/E ratio of -106.54 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings data on Tuesday, July 30th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.25). Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. The business had revenue of $145.82 million during the quarter, compared to the consensus estimate of $143.96 million. As a group, equities research analysts expect that Inari Medical, Inc. will post -0.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NARI shares. Leerink Partnrs upgraded Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Robert W. Baird dropped their price target on Inari Medical from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Canaccord Genuity Group increased their price target on Inari Medical from $55.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Truist Financial reiterated a “hold” rating and issued a $55.00 price target (down from $60.00) on shares of Inari Medical in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus started coverage on Inari Medical in a research note on Tuesday. They issued a “hold” rating and a $50.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Inari Medical currently has a consensus rating of “Hold” and a consensus target price of $58.44.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Inari Medical in the 1st quarter valued at about $30,000. GAMMA Investing LLC grew its stake in shares of Inari Medical by 164.7% in the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after buying an additional 438 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Inari Medical by 83.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after buying an additional 435 shares during the period. Covestor Ltd grew its stake in shares of Inari Medical by 30.2% in the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after buying an additional 376 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Inari Medical by 39.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after buying an additional 522 shares during the period. 90.98% of the stock is owned by institutional investors.

Inari Medical Company 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.