Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman Sells 60,000 Shares

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $55.66, for a total value of $3,339,600.00. Following the completion of the sale, the director now directly owns 441,233 shares of the company’s stock, valued at $24,559,028.78. The trade was a 11.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, November 18th, William Hoffman sold 60,000 shares of Inari Medical stock. The stock was sold at an average price of $51.16, for a total transaction of $3,069,600.00.
• On Tuesday, October 29th, William Hoffman sold 40,000 shares of Inari Medical stock. The stock was sold at an average price of $50.05, for a total value of $2,002,000.00.
• 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.

Inari Medical Trading Down 2.0 %

Shares of NASDAQ:NARI traded down $1.13 on Wednesday, hitting $55.03. 1,297,859 shares of the company were exchanged, compared to its average volume of 992,969. The firm has a market capitalization of $3.22 billion, a P/E ratio of -40.76 and a beta of 0.97. Inari Medical, Inc. has a 1-year low of $36.73 and a 1-year high of $67.10. The stock’s 50 day moving average price is $49.30 and its 200 day moving average price is $48.04.

Analysts Set New Price Targets

A number of brokerages have commented on NARI. Oppenheimer initiated coverage on shares of Inari Medical in a research note on Tuesday. They issued an “outperform” rating and a $75.00 target price on the stock. Stifel Nicolaus started coverage on Inari Medical in a research note on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective on the stock. Leerink Partnrs raised Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Robert W. Baird upped their target price on Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Leerink Partners initiated coverage on Inari Medical in a research note on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price target on the stock. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Inari Medical currently has a consensus rating of “Moderate Buy” and an average price target of $61.80.

Hedge Funds Weigh In On Inari Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC increased its stake in shares of Inari Medical by 63.2% in the third quarter. Jennison Associates LLC now owns 1,576,641 shares of the company’s stock worth $65,021,000 after acquiring an additional 610,468 shares during the period. Vestal Point Capital LP lifted its holdings in shares of Inari Medical by 342.9% in the 3rd quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock valued at $63,922,000 after buying an additional 1,200,000 shares during the period. Point72 Asset Management L.P. raised 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 valued at $71,324,000 after acquiring an additional 786,691 shares in the last quarter. Armistice Capital LLC lifted its holdings in Inari Medical by 353.1% in the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock valued at $48,595,000 after acquiring an additional 786,501 shares during the period. Finally, Bamco Inc. NY boosted its position in Inari Medical by 29.5% in the 3rd quarter. Bamco Inc. NY now owns 1,006,129 shares of the company’s stock worth $41,493,000 after purchasing an additional 228,977 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

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.