Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman Sells 20,000 Shares

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 20,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $50.15, for a total value of $1,003,000.00. Following the completion of the sale, the director now directly owns 805,359 shares in the company, valued at approximately $40,388,753.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, May 28th, William Hoffman sold 60,000 shares of Inari Medical stock. The stock was sold at an average price of $50.13, for a total transaction of $3,007,800.00.
• On Thursday, May 16th, William Hoffman sold 40,000 shares of Inari Medical stock. The shares were sold at an average price of $46.60, for a total transaction of $1,864,000.00.
• On Wednesday, May 1st, William Hoffman sold 38,549 shares of Inari Medical stock. The stock was sold at an average price of $42.00, for a total transaction of $1,619,058.00.
• 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 transaction of $58,040.00.

Inari Medical Stock Performance

NARI opened at $50.01 on Thursday. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $71.85. The company’s 50 day simple moving average is $45.95 and its 200 day simple moving average is $50.19. The stock has a market capitalization of $2.91 billion, a PE ratio of -121.98 and a beta of 1.01.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.15). The company had revenue of $143.19 million during the quarter, compared to analyst estimates of $138.32 million. Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. As a group, sell-side analysts expect that Inari Medical, Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inari Medical

Several institutional investors and hedge funds have recently added to or reduced their stakes in NARI. Dimensional Fund Advisors LP lifted its stake in shares of Inari Medical by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company’s stock valued at $38,693,000 after purchasing an additional 41,555 shares in the last quarter. Norges Bank purchased a new stake in Inari Medical during the fourth quarter worth approximately $29,491,000. New York State Common Retirement Fund increased its position in shares of Inari Medical by 10.7% in the fourth quarter. New York State Common Retirement Fund now owns 311,410 shares of the company’s stock worth $20,217,000 after acquiring an additional 29,983 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its stake in shares of Inari Medical by 99.7% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 45,621 shares of the company’s stock valued at $2,962,000 after acquiring an additional 22,780 shares during the period. Finally, Point72 Europe London LLP lifted its holdings in shares of Inari Medical by 91.8% during the 4th quarter. Point72 Europe London LLP now owns 332,202 shares of the company’s stock valued at $21,567,000 after acquiring an additional 158,997 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler dropped their price target on Inari Medical from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Canaccord Genuity Group decreased their price target 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, May 1st. Needham & Company LLC cut their price objective on shares of Inari Medical from $72.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Wells Fargo & Company decreased their target price on shares of Inari Medical from $100.00 to $84.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, Truist Financial cut their price target on Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.71.

About Inari Medical

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.