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

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $45.02, for a total transaction of $1,800,800.00. Following the completion of the transaction, the director now owns 601,233 shares of the company’s stock, valued at approximately $27,067,509.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, September 16th, William Hoffman sold 40,000 shares of Inari Medical stock. The shares were sold at an average price of $45.83, for a total value of $1,833,200.00.

Inari Medical Stock Up 1.7 %

NASDAQ:NARI opened at $44.23 on Friday. The stock’s 50-day simple moving average is $44.11 and its 200 day simple moving average is $45.83. The firm has a market capitalization of $2.57 billion, a PE ratio of -107.88 and a beta of 1.00. Inari Medical, Inc. has a twelve month low of $36.73 and a twelve month high of $67.13.

Inari Medical (NASDAQ:NARI) last posted its earnings results on Tuesday, July 30th. The company reported ($0.41) EPS 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 firm had revenue of $145.82 million during the quarter, compared to the consensus estimate of $143.96 million. On average, analysts anticipate that Inari Medical, Inc. will post -0.7 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on NARI. Robert W. Baird lowered their price objective on shares of Inari Medical from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on Inari Medical in a report on Friday, August 9th. They set a “buy” rating and a $68.00 price objective for the company. Wells Fargo & Company cut their price target on Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Stifel Nicolaus began coverage on Inari Medical in a report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price objective for the company. Finally, 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. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $57.44.

Institutional Investors Weigh In On Inari Medical

Several large investors have recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Inari Medical in the first quarter valued at approximately $30,000. GAMMA Investing LLC boosted its position in shares of Inari Medical by 164.7% during the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock valued at $34,000 after buying an additional 438 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Inari Medical by 83.5% during the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after acquiring an additional 435 shares during the period. Covestor Ltd lifted 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 acquiring an additional 376 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Inari Medical by 39.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after buying an additional 522 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.