Inari Medical, Inc. (NASDAQ:NARI) Director Sells $58,040.00 in Stock

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 1,451 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $40.00, for a total value of $58,040.00. Following the transaction, the director now directly owns 999,782 shares in the company, valued at approximately $39,991,280. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, March 18th, William Hoffman sold 40,000 shares of Inari Medical stock. The stock was sold at an average price of $41.13, for a total value of $1,645,200.00.

Inari Medical Price Performance

NASDAQ NARI traded down $0.06 during trading hours on Thursday, hitting $38.64. The company had a trading volume of 796,789 shares, compared to its average volume of 1,131,063. Inari Medical, Inc. has a fifty-two week low of $37.92 and a fifty-two week high of $71.85. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -1,288.00 and a beta of 0.84. The firm’s 50 day moving average is $47.29 and its 200 day moving average is $55.52.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.09). Inari Medical had a negative net margin of 0.33% and a positive return on equity of 1.23%. The company had revenue of $132.10 million during the quarter, compared to analyst estimates of $131.82 million. During the same quarter in the prior year, the company posted ($0.11) earnings per share. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, equities analysts anticipate that Inari Medical, Inc. will post -0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NARI. Piper Sandler lowered Inari Medical from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $55.00 in a research note on Thursday, February 29th. Truist Financial reduced their price target on Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Needham & Company LLC restated a “buy” rating and set a $72.00 price objective on shares of Inari Medical in a report on Wednesday, March 6th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $75.00 price objective on shares of Inari Medical in a report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $73.71.

Institutional Trading of Inari Medical

Several large investors have recently added to or reduced their stakes in NARI. Bank of New York Mellon Corp increased its holdings in Inari Medical by 12.4% in the 1st quarter. Bank of New York Mellon Corp now owns 153,944 shares of the company’s stock valued at $13,954,000 after purchasing an additional 16,986 shares in the last quarter. MetLife Investment Management LLC boosted its position in Inari Medical by 54.1% in the 1st quarter. MetLife Investment Management LLC now owns 18,821 shares of the company’s stock valued at $1,706,000 after buying an additional 6,604 shares during the last quarter. Rhumbline Advisers boosted its position in Inari Medical by 2.9% in the 1st quarter. Rhumbline Advisers now owns 35,997 shares of the company’s stock valued at $3,263,000 after buying an additional 1,005 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Inari Medical by 30.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 290,206 shares of the company’s stock valued at $26,304,000 after buying an additional 67,988 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Inari Medical by 200.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,189 shares of the company’s stock valued at $198,000 after buying an additional 1,461 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.