Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman Sells 20,000 Shares

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 20,000 shares of Inari Medical stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $50.15, for a total transaction of $1,003,000.00. Following the transaction, the director now directly owns 805,359 shares of the company’s stock, valued at $40,388,753.85. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Tuesday, May 28th, William Hoffman sold 60,000 shares of Inari Medical stock. The shares were sold at an average price of $50.13, for a total transaction of $3,007,800.00.
• On Thursday, May 16th, William Hoffman sold 40,000 shares of Inari Medical stock. The shares were sold at an average price of $46.60, for a total transaction of $1,864,000.00.
• On Wednesday, May 1st, William Hoffman sold 38,549 shares of Inari Medical stock. The shares were sold at an average price of $42.00, for a total transaction of $1,619,058.00.
• On Tuesday, April 16th, William Hoffman sold 1,451 shares of Inari Medical stock. The shares were sold at an average price of $40.00, for a total transaction of $58,040.00.

Inari Medical Stock Up 0.4 %

Shares of NASDAQ NARI traded up $0.21 during trading on Wednesday, hitting $50.01. 259,599 shares of the company were exchanged, compared to its average volume of 1,058,857. Inari Medical, Inc. has a 12-month low of $36.73 and a 12-month high of $71.85. The company has a fifty day moving average price of $45.72 and a 200-day moving average price of $50.19.

Inari Medical (NASDAQ:NARI) last issued its quarterly earnings data on Tuesday, April 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.15). The company had revenue of $143.19 million during the quarter, compared to analysts’ expectations of $138.32 million. Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. As a group, equities analysts anticipate that Inari Medical, Inc. will post -0.41 earnings per share for the current year.

Institutional Trading of Inari Medical

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Inari Medical by 11.1% during the first quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock worth $268,681,000 after purchasing an additional 561,562 shares during the period. Brown Advisory Inc. grew its position in shares of Inari Medical by 17.6% during the fourth quarter. Brown Advisory Inc. now owns 1,702,113 shares of the company’s stock worth $110,501,000 after buying an additional 255,182 shares in the last quarter. Bamco Inc. NY grew its position in shares of Inari Medical by 27.4% during the first quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock worth $37,288,000 after buying an additional 167,000 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Inari Medical by 7.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company’s stock worth $38,693,000 after buying an additional 41,555 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Inari Medical by 23.4% during the fourth quarter. Principal Financial Group Inc. now owns 567,266 shares of the company’s stock worth $36,827,000 after buying an additional 107,622 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Canaccord Genuity Group dropped their price target on shares of Inari Medical from $75.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Piper Sandler dropped their price target on shares of Inari Medical from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Truist Financial dropped their price target on shares of Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Wells Fargo & Company dropped their price target on shares of Inari Medical from $100.00 to $84.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Finally, Needham & Company LLC dropped their price target on shares of Inari Medical from $72.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.71.

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.