William Hoffman Sells 200,000 Shares of Inari Medical, Inc. (NASDAQ:NARI) Stock

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 200,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $60.47, for a total transaction of $12,094,000.00. Following the sale, the director now owns 238,987 shares of the company’s stock, valued at approximately $14,451,543.89. This represents a 45.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, December 16th, William Hoffman sold 60,000 shares of Inari Medical stock. The shares were sold at an average price of $55.66, for a total value of $3,339,600.00.
• 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 value of $3,069,600.00.
• On Tuesday, October 29th, William Hoffman sold 40,000 shares of Inari Medical stock. The shares were sold at an average price of $50.05, for a total transaction of $2,002,000.00.
• On Wednesday, October 16th, William Hoffman sold 40,000 shares of Inari Medical stock. The shares were sold at an average price of $45.02, for a total transaction of $1,800,800.00.

Inari Medical Stock Performance

Shares of NASDAQ:NARI opened at $79.30 on Friday. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of -58.74 and a beta of 0.97. The firm has a fifty day moving average price of $53.49 and a 200 day moving average price of $49.14. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $79.69.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vestal Point Capital LP boosted its stake in Inari Medical by 342.9% during the third 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 last quarter. Point72 Asset Management L.P. boosted its position in shares of Inari Medical by 113.3% during the 2nd 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 during the last quarter. Armistice Capital LLC grew its holdings in shares of 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 purchasing an additional 786,501 shares in the last quarter. Jennison Associates LLC increased its position in 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 purchasing an additional 610,468 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Inari Medical by 101.3% during the third quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company’s stock valued at $32,790,000 after purchasing an additional 400,198 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Robert W. Baird reiterated a “neutral” rating and set a $80.00 price target (down previously from $81.00) on shares of Inari Medical in a research note on Tuesday. Stifel Nicolaus began coverage on Inari Medical in a report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price target for the company. Truist Financial raised their price objective on Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Piper Sandler boosted their price objective on Inari Medical from $52.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $80.00 target price (up previously from $65.00) on shares of Inari Medical in a research note on Tuesday. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Inari Medical has an average rating of “Hold” and an average price target of $68.00.

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.