Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman Sells 20,000 Shares

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $50.15, for a total value of $1,003,000.00. Following the sale, the director now directly owns 805,359 shares in the company, valued at approximately $40,388,753.85. The sale was disclosed in a document filed with the SEC, which is accessible 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 transaction of $3,007,800.00.
• On Thursday, May 16th, William Hoffman sold 40,000 shares of Inari Medical stock. The stock was sold at an average price of $46.60, for a total transaction of $1,864,000.00.
• On Wednesday, May 1st, William Hoffman sold 38,549 shares of Inari Medical stock. The shares were 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 value of $58,040.00.

Inari Medical Stock Performance

NARI opened at $50.01 on Friday. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $71.85. The company’s 50 day simple moving average is $46.19 and its 200 day simple moving average is $50.18. The stock has a market capitalization of $2.91 billion, a PE ratio of -121.98 and a beta of 1.01.

Inari Medical (NASDAQ:NARI) last posted its earnings results on Tuesday, April 30th. The company reported ($0.26) earnings per share (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%. As a group, sell-side analysts expect that Inari Medical, Inc. will post -0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inari Medical

Several hedge funds and other institutional investors have recently bought and sold shares of NARI. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Inari Medical during the 1st quarter worth $30,000. GAMMA Investing LLC raised its position in shares of Inari Medical by 164.7% in the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after purchasing an additional 438 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Inari Medical by 27.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock worth $71,000 after buying an additional 236 shares in the last quarter. Covestor Ltd increased its stake in shares of Inari Medical by 30.2% in the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after buying an additional 376 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in Inari Medical by 16.4% in the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock valued at $117,000 after acquiring an additional 344 shares in the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NARI has been the subject of a number of research reports. Needham & Company LLC reduced their target price on shares of Inari Medical from $72.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Canaccord Genuity Group reduced their target price on shares of Inari Medical from $75.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Truist Financial dropped their price target on shares of Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Piper Sandler cut their price objective on Inari Medical from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company reduced their price objective on shares of Inari Medical from $100.00 to $84.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.