Insider Selling: Inari Medical, Inc. (NASDAQ:NARI) Director Sells 20,000 Shares of Stock

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 20,000 shares of the company’s 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 completion of the transaction, the director now owns 805,359 shares in the company, valued at approximately $40,388,753.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, May 28th, William Hoffman sold 60,000 shares of Inari Medical stock. The stock was 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 stock was sold at an average price of $40.00, for a total transaction of $58,040.00.

Inari Medical Trading Up 0.4 %

Shares of NASDAQ NARI traded up $0.21 during trading on Wednesday, reaching $50.01. The company had a trading volume of 259,599 shares, compared to its average volume of 1,058,857. Inari Medical, Inc. has a 52 week low of $36.73 and a 52 week high of $71.85. The business’s 50 day moving average price is $45.72 and its 200-day moving average price is $50.19.

Inari Medical (NASDAQ:NARI) last announced its 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 return on equity of 1.65% and a negative net margin of 4.54%. The company had revenue of $143.19 million during the quarter, compared to the consensus estimate of $138.32 million. As a group, equities analysts expect that Inari Medical, Inc. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on NARI. Piper Sandler decreased 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 report on Wednesday, May 1st. Needham & Company LLC decreased their target price on shares of Inari Medical from $72.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Truist Financial decreased their target price on shares of Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd. Canaccord Genuity Group decreased their target price on shares of Inari Medical from $75.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company decreased their target price on shares of Inari Medical from $100.00 to $84.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Inari Medical currently has an average rating of “Moderate Buy” and a consensus target price of $65.71.

Hedge Funds Weigh In On Inari Medical

A number of institutional investors have recently modified their holdings of NARI. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Inari Medical in the first quarter worth about $30,000. GAMMA Investing LLC raised its stake in shares of Inari Medical by 164.7% during the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $34,000 after buying an additional 438 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Inari Medical by 27.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock worth $71,000 after buying an additional 236 shares during the last quarter. Covestor Ltd raised its stake in shares of 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 buying an additional 376 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Inari Medical by 16.4% during the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock worth $117,000 after buying an additional 344 shares during the last quarter. 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.