Insider Selling: Inari Medical, Inc. (NASDAQ:NARI) CFO Sells $135,390.00 in Stock

Inari Medical, Inc. (NASDAQ:NARI) CFO Mitch C. Hill sold 3,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $45.13, for a total value of $135,390.00. Following the completion of the sale, the chief financial officer now directly owns 179,600 shares in the company, valued at $8,105,348. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Inari Medical Price Performance

Shares of NARI opened at $46.52 on Monday. The business has a 50-day moving average of $48.85 and a 200-day moving average of $46.19. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of -113.46 and a beta of 1.00. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $69.40.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.25). The firm had revenue of $145.82 million for the quarter, compared to the consensus estimate of $143.96 million. Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. As a group, sell-side analysts anticipate that Inari Medical, Inc. will post -0.7 EPS for the current year.

Analyst Upgrades and Downgrades

NARI has been the topic of several research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Inari Medical in a report on Friday, August 9th. They set a “buy” rating and a $68.00 price target on the stock. Leerink Partners assumed coverage on shares of Inari Medical in a report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price target for the company. Piper Sandler reissued a “neutral” rating and set a $50.00 price objective on shares of Inari Medical in a report on Monday, August 26th. Wells Fargo & Company lowered their target price on Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, Robert W. Baird dropped their target price on Inari Medical from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Inari Medical has an average rating of “Moderate Buy” and a consensus target price of $59.50.

Hedge Funds Weigh In On Inari Medical

Hedge funds and other institutional investors have recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Inari Medical in the 1st quarter worth about $30,000. GAMMA Investing LLC grew its stake 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 period. Nisa Investment Advisors LLC increased its holdings in Inari Medical by 83.5% in the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after purchasing an additional 435 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Inari Medical by 30.2% during the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after buying an additional 376 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Inari Medical by 39.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after buying an additional 522 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.