Andrew Hykes Sells 3,000 Shares of Inari Medical, Inc. (NASDAQ:NARI) Stock

Inari Medical, Inc. (NASDAQ:NARI) CEO Andrew Hykes sold 3,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $50.08, for a total value of $150,240.00. Following the completion of the sale, the chief executive officer now directly owns 462,474 shares in the company, valued at approximately $23,160,697.92. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Andrew Hykes also recently made the following trade(s):

• On Tuesday, May 28th, Andrew Hykes sold 3,000 shares of Inari Medical stock. The shares were sold at an average price of $50.00, for a total value of $150,000.00.

Inari Medical Stock Performance

NASDAQ NARI traded up $0.21 on Wednesday, reaching $50.01. The stock had a trading volume of 259,599 shares, 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 business’s 50-day moving average price is $45.72 and its 200 day moving average price is $50.19. The stock has a market cap of $2.91 billion, a P/E ratio of -121.98 and a beta of 1.01.

Inari Medical (NASDAQ:NARI) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $138.32 million. On average, sell-side analysts predict that Inari Medical, Inc. will post -0.41 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in shares of Inari Medical by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company’s stock valued at $38,693,000 after purchasing an additional 41,555 shares during the last quarter. Norges Bank purchased a new position in shares of Inari Medical in the 4th quarter valued at approximately $29,491,000. New York State Common Retirement Fund grew its stake in shares of Inari Medical by 10.7% in the 4th quarter. New York State Common Retirement Fund now owns 311,410 shares of the company’s stock valued at $20,217,000 after purchasing an additional 29,983 shares during the last quarter. Knights of Columbus Asset Advisors LLC grew its stake in shares of Inari Medical by 99.7% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 45,621 shares of the company’s stock valued at $2,962,000 after purchasing an additional 22,780 shares during the last quarter. Finally, Point72 Europe London LLP grew its stake in shares of Inari Medical by 91.8% in the 4th quarter. Point72 Europe London LLP now owns 332,202 shares of the company’s stock valued at $21,567,000 after purchasing an additional 158,997 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.