Inari Medical, Inc. (NASDAQ:NARI) Director Sells $1,800,800.00 in Stock

Inari Medical, Inc. (NASDAQ:NARI - Get Free Report) Director William Hoffman sold 40,000 shares of the business's stock in a transaction on 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 sale, the director now owns 601,233 shares in the company, valued at approximately $27,067,509.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

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

Inari Medical Stock Up 1.7 %

NASDAQ:NARI traded up $0.76 during mid-day trading on Friday, hitting $44.23. 480,830 shares of the stock traded hands, compared to its average volume of 996,347. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of -108.78 and a beta of 1.00. Inari Medical, Inc. has a 52 week low of $36.73 and a 52 week high of $67.13. The firm's 50 day moving average is $44.20 and its two-hundred day moving average is $45.85.

Inari Medical (NASDAQ:NARI - Get Free Report) last issued its quarterly 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). 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 net margin of 10.42% and a negative return on equity of 7.51%. As a group, research analysts predict that Inari Medical, Inc. will post -0.7 EPS for the current year.

Hedge Funds Weigh In On Inari Medical

A number of hedge funds have recently added to or reduced their stakes in NARI. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Inari Medical during the first quarter valued at approximately $30,000. GAMMA Investing LLC boosted its stake 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 purchasing an additional 438 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Inari Medical by 83.5% during the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company's stock valued at $46,000 after purchasing an additional 435 shares in the last quarter. Covestor Ltd boosted its stake in shares of Inari Medical by 30.2% during the first quarter. Covestor Ltd now owns 1,619 shares of the company's stock valued at $78,000 after purchasing an additional 376 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Inari Medical by 39.4% during the second 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 in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NARI. Piper Sandler reiterated a "neutral" rating and issued a $50.00 price target on shares of Inari Medical in a research note on Monday, August 26th. Stifel Nicolaus began coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They issued a "hold" rating and a $50.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Inari Medical in a research note on Friday, August 9th. They issued a "buy" rating and a $68.00 price target on the stock. Truist Financial decreased their target price on shares of Inari Medical from $55.00 to $46.00 and set a "hold" rating on the stock in a research report on Monday. Finally, Needham & Company LLC restated a "hold" rating on shares of Inari Medical in a research report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $57.44.

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.

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