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 company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.83, for a total value of $1,833,200.00. Following the sale, the director now owns 643,296 shares in the company, valued at approximately $29,482,255.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 stock was 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 stock was sold at an average price of $50.15, for a total value of $1,003,000.00.

Inari Medical Trading Down 0.4 %

Inari Medical stock opened at $43.68 on Friday. Inari Medical, Inc. has a 12 month low of $36.73 and a 12 month high of $69.40. The stock’s 50 day moving average is $48.04 and its 200-day moving average is $46.07. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -106.54 and a beta of 1.00.

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

Analyst Ratings Changes

NARI has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Inari Medical in a report on Friday, August 9th. They set a “buy” rating and a $68.00 target price on the stock. Robert W. Baird dropped their price objective on Inari Medical from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research note on Wednesday, July 31st. Stifel Nicolaus began coverage on Inari Medical in a research note on Tuesday. They issued a “hold” rating and a $50.00 price objective on the stock. Finally, Piper Sandler restated a “neutral” rating and issued a $50.00 price objective on shares of Inari Medical in a research note on Monday, August 26th. Six 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, the company presently has a consensus rating of “Hold” and an average target price of $58.44.

Institutional Investors Weigh In On Inari Medical

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position 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 buying an additional 561,562 shares in the last quarter. Point72 Asset Management L.P. grew its position in Inari Medical by 113.3% during the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock worth $71,324,000 after buying an additional 786,691 shares in the last quarter. Armistice Capital LLC grew its position in Inari Medical by 353.1% during the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock worth $48,595,000 after buying an additional 786,501 shares in the last quarter. American Century Companies Inc. grew its position in Inari Medical by 26.8% during the second quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock worth $47,231,000 after buying an additional 207,485 shares in the last quarter. Finally, Bamco Inc. NY grew its position in 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. Institutional investors and hedge funds 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.