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 stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $50.15, for a total transaction of $1,003,000.00. Following the sale, the director now owns 805,359 shares of the company’s stock, valued at approximately $40,388,753.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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 shares were 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 stock was sold at an average price of $40.00, for a total transaction of $58,040.00.

Inari Medical Price Performance

NARI opened at $51.39 on Friday. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -125.34 and a beta of 1.01. The business’s 50-day moving average price is $46.45 and its two-hundred day moving average price is $50.09. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $71.85.

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

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NARI. Piper Sandler decreased their price target on Inari Medical from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Needham & Company LLC reduced their price target 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. Wells Fargo & Company dropped their price objective on Inari Medical from $100.00 to $84.00 and set an “overweight” rating for the company in a 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 report on Wednesday, May 1st. Finally, 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 research note on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Inari Medical currently has an average rating of “Moderate Buy” and an average target price of $65.71.

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.