Insider Selling: Inari Medical, Inc. (NASDAQ:NARI) Director Sells $1,003,000.00 in Stock

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 20,000 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 805,359 shares in the company, valued at $40,388,753.85. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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 value of $3,007,800.00.
• On Thursday, May 16th, William Hoffman sold 40,000 shares of Inari Medical stock. The stock was sold at an average price of $46.60, for a total value of $1,864,000.00.
• On Wednesday, May 1st, William Hoffman sold 38,549 shares of Inari Medical stock. The stock was 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 2.8 %

NASDAQ NARI opened at $51.39 on Friday. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $71.85. The business has a 50 day moving average price of $46.45 and a two-hundred day moving average price of $50.09. The stock has a market cap of $2.99 billion, a PE ratio of -125.34 and a beta of 1.01.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.15). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. The firm had revenue of $143.19 million for the quarter, compared to analyst estimates of $138.32 million. Sell-side analysts anticipate that Inari Medical, Inc. will post -0.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Needham & Company LLC lowered their target price on shares of Inari Medical from $72.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Wells Fargo & Company lowered their price objective on Inari Medical from $100.00 to $84.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Canaccord Genuity Group reduced their target price on Inari Medical from $75.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Truist Financial lowered their price target on Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Finally, Piper Sandler cut their price objective on shares of Inari Medical from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Inari Medical has an average rating of “Moderate Buy” and a consensus price target of $65.71.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NARI. Vanguard Group Inc. raised its position in shares of Inari Medical by 11.1% during the 1st quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock valued at $268,681,000 after acquiring an additional 561,562 shares in the last quarter. Norges Bank acquired a new stake in shares of Inari Medical during the fourth quarter worth $29,491,000. Brown Advisory Inc. lifted its position in shares of Inari Medical by 17.6% in the 4th 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 during the last quarter. First Light Asset Management LLC acquired a new position in shares of Inari Medical in the 1st quarter valued at about $10,265,000. Finally, Clearbridge Investments LLC bought a new stake in shares of Inari Medical during the 4th quarter valued at about $11,479,000. Institutional investors own 90.98% of the company’s stock.

About Inari Medical

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.