Insider Selling: Inari Medical, Inc. (NASDAQ:NARI) Director Sells 40,000 Shares of Stock

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 40,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.05, for a total transaction of $2,002,000.00. Following the sale, the director now directly owns 561,233 shares of the company’s stock, valued at $28,089,711.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, October 16th, William Hoffman sold 40,000 shares of Inari Medical stock. The stock was sold at an average price of $45.02, for a total transaction of $1,800,800.00.
• On Monday, September 16th, William Hoffman sold 40,000 shares of Inari Medical stock. The stock was sold at an average price of $45.83, for a total value of $1,833,200.00.

Inari Medical Trading Up 2.8 %

NASDAQ:NARI traded up $1.30 on Thursday, hitting $48.40. The company’s stock had a trading volume of 1,098,908 shares, compared to its average volume of 1,004,413. Inari Medical, Inc. has a one year low of $36.73 and a one year high of $67.13. The firm has a market capitalization of $2.82 billion, a P/E ratio of -36.48 and a beta of 1.00. The stock has a fifty day moving average of $43.50 and a two-hundred day moving average of $45.97.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.25). Inari Medical had a negative net margin of 10.42% and a negative return on equity of 7.51%. The business had revenue of $145.82 million during the quarter, compared to the consensus estimate of $143.96 million. As a group, sell-side analysts anticipate that Inari Medical, Inc. will post -0.75 EPS for the current year.

Wall Street Analyst Weigh In

NARI has been the subject of a number of recent research reports. Piper Sandler upped their price target on Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday. Canaccord Genuity Group lifted their price target on shares of Inari Medical from $71.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday. William Blair assumed coverage on shares of Inari Medical in a research note on Thursday, July 25th. They set an “outperform” rating for the company. Robert W. Baird lifted their target price on Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Wells Fargo & Company reduced their price target on Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Inari Medical has a consensus rating of “Hold” and a consensus target price of $58.89.

Hedge Funds Weigh In On Inari Medical

Several institutional investors and hedge funds have recently modified their holdings of NARI. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Inari Medical during the first quarter worth approximately $30,000. GAMMA Investing LLC increased its position in Inari Medical by 164.7% during the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $34,000 after buying an additional 438 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Inari Medical by 83.5% in the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after acquiring an additional 435 shares during the period. Covestor Ltd increased its position in Inari Medical by 30.2% during the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after acquiring an additional 376 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Inari Medical by 39.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after purchasing an additional 522 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.