Inari Medical (NASDAQ:NARI) Trading Down 4.6% on Insider Selling

Inari Medical, Inc. (NASDAQ:NARI - Get Free Report)'s stock price fell 4.6% on Monday after an insider sold shares in the company. The company traded as low as $52.86 and last traded at $52.90. 358,067 shares were traded during mid-day trading, a decline of 64% from the average session volume of 996,203 shares. The stock had previously closed at $55.45.

Specifically, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $55.29, for a total transaction of $165,870.00. Following the completion of the transaction, the chief executive officer now owns 439,310 shares in the company, valued at approximately $24,289,449.90. This represents a 0.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Hoffman sold 60,000 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $55.66, for a total value of $3,339,600.00. Following the completion of the sale, the director now owns 441,233 shares in the company, valued at approximately $24,559,028.78. This trade represents a 11.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NARI shares. Robert W. Baird lifted their target price on Inari Medical from $66.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, October 29th. Piper Sandler raised their price target on shares of Inari Medical from $50.00 to $52.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 29th. Oppenheimer started coverage on shares of Inari Medical in a research report on Tuesday, December 17th. They issued an "outperform" rating and a $75.00 price objective on the stock. Stifel Nicolaus initiated coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They issued a "hold" rating and a $50.00 target price for the company. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Inari Medical in a research note on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $61.80.

Inari Medical Stock Performance

The company has a market capitalization of $3.12 billion, a P/E ratio of -39.44 and a beta of 0.97. The stock's fifty day moving average price is $50.34 and its 200-day moving average price is $48.17.

Hedge Funds Weigh In On Inari Medical

Institutional investors have recently bought and sold shares of the business. Vestal Point Capital LP boosted its stake in shares of Inari Medical by 342.9% during the 3rd quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company's stock worth $63,922,000 after acquiring an additional 1,200,000 shares during the period. Point72 Asset Management L.P. lifted its holdings in Inari Medical by 113.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company's stock valued at $71,324,000 after purchasing an additional 786,691 shares during the last quarter. Armistice Capital LLC boosted its position in Inari Medical by 353.1% during the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company's stock worth $48,595,000 after purchasing an additional 786,501 shares during the period. Jennison Associates LLC increased its holdings in shares of Inari Medical by 63.2% in the third quarter. Jennison Associates LLC now owns 1,576,641 shares of the company's stock valued at $65,021,000 after purchasing an additional 610,468 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Inari Medical by 101.3% in the third quarter. The Manufacturers Life Insurance Company now owns 795,099 shares of the company's stock valued at $32,790,000 after purchasing an additional 400,198 shares during 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.