Inari Medical (NASDAQ:NARI) Shares Down 4.6% After Insider Selling

Inari Medical, Inc. (NASDAQ:NARI) shares fell 4.6% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $52.86 and last traded at $52.90. 358,067 shares changed hands during trading, a decline of 64% from the average session volume of 996,203 shares. The stock had previously closed at $55.45.

Specifically, CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $55.29, for a total transaction of $165,870.00. Following the completion of the transaction, the chief executive officer now directly owns 439,310 shares in the company, valued at approximately $24,289,449.90. The trade was a 0.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William Hoffman sold 60,000 shares of Inari Medical stock in a transaction 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 transaction, the director now directly owns 441,233 shares of the company’s stock, valued at $24,559,028.78. This represents a 11.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

NARI has been the topic of several recent research reports. Truist Financial lifted their target price on shares of Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Leerink Partnrs raised Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Oppenheimer began coverage on Inari Medical in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price target on the stock. Finally, Robert W. Baird raised their price objective on Inari Medical from $66.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.80.

Inari Medical Stock Up 0.8 %

The firm has a market capitalization of $3.14 billion, a PE ratio of -39.74 and a beta of 0.97. The company has a 50-day moving average of $50.51 and a 200 day moving average of $48.20.

Institutional Investors Weigh In On Inari Medical

Several institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC boosted its position in Inari Medical by 7.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock valued at $234,000 after buying an additional 348 shares during the period. Arizona State Retirement System boosted its holdings in shares of Inari Medical by 2.5% during the second quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock worth $703,000 after purchasing an additional 358 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Inari Medical by 83.5% in the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after purchasing an additional 435 shares during the last quarter. GAMMA Investing LLC increased its holdings in Inari Medical by 67.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock valued at $49,000 after purchasing an additional 473 shares during the period. Finally, KBC Group NV raised its position in Inari Medical by 39.0% during the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock valued at $73,000 after purchasing an additional 498 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

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.