Inari Medical, Inc. (NASDAQ:NARI) Director Sells $1,800,800.00 in Stock

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 40,000 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the sale, the director now directly owns 601,233 shares of the company’s stock, valued at $27,067,509.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, September 16th, William Hoffman sold 40,000 shares of Inari Medical stock. The shares were sold at an average price of $45.83, for a total transaction of $1,833,200.00.

Inari Medical Stock Up 1.7 %

NARI stock opened at $44.23 on Monday. The stock has a market capitalization of $2.57 billion, a PE ratio of -107.88 and a beta of 1.00. Inari Medical, Inc. has a 52 week low of $36.73 and a 52 week high of $67.13. The firm has a 50 day moving average of $44.11 and a 200 day moving average of $45.85.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NARI shares. Leerink Partners assumed coverage on shares of Inari Medical in a research note on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price target for the company. Robert W. Baird reduced their price objective on Inari Medical from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Piper Sandler reissued a “neutral” rating and set a $50.00 price target on shares of Inari Medical in a research report on Monday, August 26th. Canaccord Genuity Group lifted their price objective on shares of Inari Medical from $55.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research report on Wednesday, October 9th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $57.44.

Institutional Trading of Inari Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NARI. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Inari Medical in the first quarter worth about $30,000. GAMMA Investing LLC increased its holdings in Inari Medical by 164.7% in the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $34,000 after buying an additional 438 shares during the period. Nisa Investment Advisors LLC raised its position in Inari Medical by 83.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after buying an additional 435 shares during the last quarter. Covestor Ltd lifted its stake in Inari Medical by 30.2% during the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after acquiring an additional 376 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Inari Medical by 39.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after acquiring an additional 522 shares during 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.