Inari Medical, Inc. (NASDAQ:NARI) Director Sells $1,619,058.00 in Stock

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 38,549 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 965,359 shares in the company, valued at $40,545,078. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $40.00, for a total value 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

NASDAQ NARI opened at $42.03 on Monday. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $71.85. The company has a market capitalization of $2.44 billion, a PE ratio of -102.51 and a beta of 0.93. The company has a fifty day moving average of $43.12 and a 200 day moving average of $53.63.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings data 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). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. The company had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $131.82 million. During the same quarter in the previous year, the business posted ($0.11) EPS. The business’s quarterly revenue was up 22.5% on a year-over-year basis. Research analysts expect that Inari Medical, Inc. will post -0.41 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NARI. Fifth Third Bancorp boosted its position in Inari Medical by 54.3% in the 3rd quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock worth $32,000 after purchasing an additional 171 shares in the last quarter. D.A. Davidson & CO. boosted its position in Inari Medical by 1.8% in the 4th quarter. D.A. Davidson & CO. now owns 10,570 shares of the company’s stock worth $686,000 after purchasing an additional 188 shares in the last quarter. New York State Teachers Retirement System boosted its position in Inari Medical by 0.4% in the 4th quarter. New York State Teachers Retirement System now owns 53,924 shares of the company’s stock worth $3,501,000 after purchasing an additional 233 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Inari Medical by 27.4% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock worth $71,000 after purchasing an additional 236 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in Inari Medical by 0.6% in the 4th quarter. Retirement Systems of Alabama now owns 64,100 shares of the company’s stock worth $4,161,000 after purchasing an additional 366 shares in the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wells Fargo & Company decreased 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 report on Wednesday, May 1st. Truist Financial decreased their price target on shares of Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Canaccord Genuity Group dropped their price objective on shares of Inari Medical from $75.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Piper Sandler reduced their target price on Inari Medical from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, Needham & Company LLC lowered their price target on Inari Medical from $72.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Inari Medical currently has an average rating of “Moderate Buy” and an average target price of $65.71.

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.