Inari Medical, Inc. (NASDAQ:NARI) Director Sells $58,040.00 in Stock

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 1,451 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $40.00, for a total transaction of $58,040.00. Following the sale, the director now directly owns 999,782 shares of the company’s stock, valued at $39,991,280. The transaction was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $41.13, for a total transaction of $1,645,200.00.

Inari Medical Price Performance

NASDAQ NARI opened at $38.59 on Friday. Inari Medical, Inc. has a 12 month low of $37.92 and a 12 month high of $71.85. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -1,286.33 and a beta of 0.84. The company’s fifty day moving average price is $46.89 and its two-hundred day moving average price is $55.25.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Piper Sandler lowered shares of Inari Medical from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $55.00 in a report on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Inari Medical in a report on Wednesday, March 6th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $75.00 price target on shares of Inari Medical in a report on Friday, April 12th. Finally, Truist Financial lowered 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Inari Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.71.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Parkside Financial Bank & Trust bought a new position in shares of Inari Medical in the 1st quarter worth about $25,000. Quarry LP bought a new position in shares of Inari Medical in the 2nd quarter worth about $27,000. Fifth Third Bancorp lifted its position in Inari Medical by 54.3% in 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 during the last quarter. FMR LLC lifted 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. Finally, Point72 Middle East FZE bought a new stake in Inari Medical in the 4th quarter valued at about $55,000. 90.98% of the stock is currently owned by institutional investors.

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.