Mitch C. Hill Sells 6,000 Shares of Inari Medical, Inc. (NASDAQ:NARI) Stock

Inari Medical, Inc. (NASDAQ:NARI - Get Free Report) CFO Mitch C. Hill sold 6,000 shares of the firm's stock in a transaction on Friday, April 12th. The stock was sold at an average price of $40.96, for a total transaction of $245,760.00. Following the completion of the sale, the chief financial officer now owns 181,294 shares in the company, valued at approximately $7,425,802.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Inari Medical Stock Performance

Shares of NARI stock traded down $0.40 during trading hours on Wednesday, hitting $38.70. The company had a trading volume of 656,962 shares, compared to its average volume of 1,135,581. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -1,290.00 and a beta of 0.84. Inari Medical, Inc. has a 12 month low of $38.35 and a 12 month high of $71.85. The firm's fifty day moving average is $47.67 and its 200 day moving average is $55.63.

Inari Medical (NASDAQ:NARI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.09). The company had revenue of $132.10 million during the quarter, compared to the consensus estimate of $131.82 million. Inari Medical had a negative net margin of 0.33% and a positive return on equity of 1.23%. The business's revenue was up 22.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.11) earnings per share. On average, sell-side analysts expect that Inari Medical, Inc. will post -0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on NARI shares. Truist Financial decreased 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 report on Friday, March 22nd. Piper Sandler cut Inari Medical from an "overweight" rating to a "neutral" rating and cut their price target for the company from $85.00 to $55.00 in a report on Thursday, February 29th. Canaccord Genuity Group reissued a "buy" rating and set a $75.00 price objective on shares of Inari Medical in a report on Friday, April 12th. Finally, Needham & Company LLC restated a "buy" rating and set a $72.00 price objective on shares of Inari Medical in a research report on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $73.71.

Institutional Investors Weigh In On Inari Medical

Hedge funds have recently made changes to their positions in the company. Parkside Financial Bank & Trust bought a new stake in Inari Medical during the first quarter worth about $25,000. Quarry LP bought a new stake in Inari Medical during the 2nd quarter worth approximately $27,000. Fifth Third Bancorp increased its holdings in Inari Medical by 54.3% during the 3rd quarter. Fifth Third Bancorp now owns 486 shares of the company's stock valued at $32,000 after purchasing an additional 171 shares in the last quarter. Point72 Middle East FZE acquired a new stake in Inari Medical during the 4th quarter valued at $55,000. Finally, FMR LLC raised its position in Inari Medical by 42.6% in the 2nd quarter. FMR LLC now owns 824 shares of the company's stock valued at $56,000 after purchasing an additional 246 shares during the last quarter. Institutional investors and hedge funds 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.