Insider Selling: Inari Medical, Inc. (NASDAQ:NARI) Director Sells 38,549 Shares of Stock

Inari Medical, Inc. (NASDAQ:NARI - Get Free Report) Director William Hoffman sold 38,549 shares of the business's stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $42.00, for a total value of $1,619,058.00. Following the completion of the transaction, the director now directly owns 965,359 shares in the company, valued at $40,545,078. The transaction 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 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 transaction of $58,040.00.
• 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 Price Performance

NARI stock traded up $0.04 during mid-day trading on Friday, reaching $42.03. The company had a trading volume of 1,060,721 shares, compared to its average volume of 1,178,902. Inari Medical, Inc. has a 12 month low of $36.73 and a 12 month high of $71.85. The firm has a 50 day moving average of $43.42 and a 200 day moving average of $53.79.

Inari Medical (NASDAQ:NARI - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.09). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. The firm had revenue of $132.10 million during the quarter, compared to the consensus estimate of $131.82 million. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. The business's revenue was up 22.5% compared to the same quarter last year. As a group, equities analysts anticipate that Inari Medical, Inc. will post -0.25 EPS for the current year.

Analyst Ratings Changes

NARI has been the subject of a number of recent research reports. Piper Sandler dropped their price objective on shares of Inari Medical from $55.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday. Canaccord Genuity Group reduced their target price on shares of Inari Medical from $75.00 to $55.00 and set a "buy" rating on the stock in a research note on Wednesday. Wells Fargo & Company dropped their price target 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. Needham & Company LLC cut their price target on shares of Inari Medical from $72.00 to $57.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Truist Financial decreased their price objective on shares of Inari Medical from $61.00 to $52.00 and set a "hold" rating for the company in a research note on Friday, March 22nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.71.

Institutional Investors Weigh In On Inari Medical

Several hedge funds have recently modified their holdings of NARI. SG Americas Securities LLC bought a new stake in Inari Medical during the third quarter valued at about $962,000. Asset Management One Co. Ltd. raised its stake in shares of Inari Medical by 19.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 47,390 shares of the company's stock worth $3,099,000 after acquiring an additional 7,720 shares in the last quarter. Brown Advisory Inc. lifted its position in Inari Medical by 3.1% during the third quarter. Brown Advisory Inc. now owns 1,446,931 shares of the company's stock valued at $94,629,000 after acquiring an additional 43,657 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Inari Medical by 18.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,397 shares of the company's stock valued at $745,000 after acquiring an additional 1,755 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Inari Medical by 13.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,958 shares of the company's stock worth $1,632,000 after purchasing an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors 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.

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