Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman Sells 40,000 Shares of Stock

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 40,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.83, for a total value of $1,833,200.00. Following the completion of the transaction, the director now owns 643,296 shares of the company’s stock, valued at approximately $29,482,255.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Tuesday, July 16th, William Hoffman sold 60,000 shares of Inari Medical stock. The shares were sold at an average price of $56.74, for a total value of $3,404,400.00.
• On Monday, July 1st, William Hoffman sold 20,000 shares of Inari Medical stock. The shares were sold at an average price of $50.15, for a total value of $1,003,000.00.

Inari Medical Stock Performance

Shares of NARI opened at $44.38 on Thursday. The stock’s 50-day simple moving average is $48.44 and its 200 day simple moving average is $46.09. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -108.24 and a beta of 1.00. Inari Medical, Inc. has a 52-week low of $36.73 and a 52-week 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 for the quarter, missing the consensus estimate of ($0.16) by ($0.25). Inari Medical had a negative net margin of 10.42% and a negative return on equity of 7.51%. The business had revenue of $145.82 million during the quarter, compared to analysts’ expectations of $143.96 million. On average, research analysts forecast that Inari Medical, Inc. will post -0.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. William Blair assumed coverage on Inari Medical in a research report on Thursday, July 25th. They set an “outperform” rating on the stock. Stifel Nicolaus assumed coverage on Inari Medical in a research report on Tuesday. They set a “hold” rating and a $50.00 price target on the stock. Truist Financial reaffirmed a “hold” rating and set a $55.00 price target (down previously from $60.00) on shares of Inari Medical in a research report on Wednesday, July 31st. Leerink Partnrs raised Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $50.00 price target on shares of Inari Medical in a research report on Monday, August 26th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Inari Medical has an average rating of “Hold” and a consensus price target of $58.44.

Institutional Trading of Inari Medical

Institutional investors and hedge funds have recently modified their holdings of the business. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Inari Medical in the 1st quarter valued at about $30,000. GAMMA Investing LLC raised its holdings in shares of Inari Medical by 164.7% in the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after acquiring an additional 438 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Inari Medical by 83.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after acquiring an additional 435 shares in the last quarter. Covestor Ltd increased its position in shares of Inari Medical by 30.2% during the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after purchasing an additional 376 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position 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 valued at $89,000 after purchasing an additional 522 shares during the last quarter. Hedge funds and other institutional investors 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.