Insider Selling: Inari Medical, Inc. (NASDAQ:NARI) Director Sells 1,451 Shares of Stock

Inari Medical, Inc. (NASDAQ:NARI - Get Free Report) Director William Hoffman sold 1,451 shares of the company's stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $40.00, for a total value of $58,040.00. Following the transaction, the director now directly owns 999,782 shares in the company, valued at $39,991,280. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Monday, March 18th, William Hoffman sold 40,000 shares of Inari Medical stock. The stock was sold at an average price of $41.13, for a total value of $1,645,200.00.

Inari Medical Trading Down 0.2 %

NARI stock traded down $0.06 during midday trading on Thursday, hitting $38.64. 796,789 shares of the company's stock were exchanged, compared to its average volume of 1,131,063. The business has a 50-day simple moving average of $47.29 and a two-hundred day simple moving average of $55.52. The stock has a market capitalization of $2.24 billion, a PE ratio of -1,288.00 and a beta of 0.84. Inari Medical, Inc. has a 1-year low of $37.92 and a 1-year high of $71.85.

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

Institutional Investors Weigh In On Inari Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Inari Medical by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 5,038,292 shares of the company's stock worth $327,086,000 after acquiring an additional 325,586 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Inari Medical by 55.8% in the fourth quarter. Voya Investment Management LLC now owns 773,306 shares of the company's stock valued at $50,203,000 after buying an additional 276,835 shares in the last quarter. Weiss Multi Strategy Advisers LLC grew its stake in shares of Inari Medical by 8.3% in the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 35,585 shares of the company's stock valued at $2,310,000 after buying an additional 2,713 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Inari Medical by 4.1% in the fourth quarter. Nuveen Asset Management LLC now owns 604,177 shares of the company's stock valued at $39,223,000 after buying an additional 23,604 shares in the last quarter. Finally, Penn Capital Management Company LLC acquired a new stake in shares of Inari Medical in the fourth quarter valued at $5,535,000. Institutional investors and hedge funds own 90.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Truist Financial lowered their price target on 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 downgraded Inari Medical from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $85.00 to $55.00 in a research report on Thursday, February 29th. Canaccord Genuity Group restated a "buy" rating and issued a $75.00 target price on shares of Inari Medical in a research report on Friday, April 12th. Finally, Needham & Company LLC restated a "buy" rating and issued a $72.00 target price on shares of Inari Medical in a research report on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $73.71.

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.

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