Andrew Hykes Sells 3,000 Shares of Inari Medical, Inc. (NASDAQ:NARI) Stock

Inari Medical, Inc. (NASDAQ:NARI) CEO Andrew Hykes sold 3,000 shares of Inari Medical stock in a transaction on Monday, July 1st. The stock was sold at an average price of $50.08, for a total transaction of $150,240.00. Following the transaction, the chief executive officer now directly owns 462,474 shares of the company’s stock, valued at approximately $23,160,697.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Andrew Hykes also recently made the following trade(s):

• On Tuesday, May 28th, Andrew Hykes sold 3,000 shares of Inari Medical stock. The stock was sold at an average price of $50.00, for a total transaction of $150,000.00.

Inari Medical Price Performance

Shares of NASDAQ NARI opened at $50.01 on Friday. The stock has a market capitalization of $2.91 billion, a P/E ratio of -121.98 and a beta of 1.01. The company has a 50-day moving average price of $46.19 and a 200-day moving average price of $50.18. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $71.85.

Inari Medical (NASDAQ:NARI) last issued its quarterly earnings data on Tuesday, April 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.15). The business had revenue of $143.19 million for 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, equities research analysts anticipate that Inari Medical, Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Inari Medical during the first quarter valued at about $30,000. GAMMA Investing LLC boosted its holdings in Inari Medical by 164.7% during the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $34,000 after purchasing an additional 438 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Inari Medical by 27.4% during the fourth 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 during the last quarter. Covestor Ltd boosted its holdings in Inari Medical by 30.2% during the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after purchasing an additional 376 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Inari Medical by 16.4% during the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock worth $117,000 after purchasing an additional 344 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NARI has been the subject of a number of analyst reports. Canaccord Genuity Group lowered their target price on shares of Inari Medical from $75.00 to $55.00 and set a “buy” rating for the company in a research note 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 research note on Friday, March 22nd. Piper Sandler decreased their price target 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, May 1st. Needham & Company LLC decreased their price target on shares of Inari Medical from $72.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company decreased 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, May 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.