Thomas Tu Sells 12,176 Shares of Inari Medical, Inc. (NASDAQ:NARI) Stock

Posted by Defense World Staff on May 20th, 2023

Inari Medical, Inc. (NASDAQ:NARI – Get Rating) insider Thomas Tu sold 12,176 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $70.87, for a total value of $862,913.12. Following the completion of the sale, the insider now owns 386,478 shares in the company, valued at $27,389,695.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Thomas Tu also recently made the following trade(s):

On Monday, February 27th, Thomas Tu sold 10,000 shares of Inari Medical stock. The shares were sold at an average price of $56.72, for a total value of $567,200.00.

Inari Medical Stock Down 6.8 %

Shares of NASDAQ NARI opened at $62.17 on Friday. The firm has a market capitalization of $3.55 billion, a P/E ratio of -117.30 and a beta of 1.12. The stock’s 50-day simple moving average is $64.95 and its two-hundred day simple moving average is $65.00. Inari Medical, Inc. has a twelve month low of $52.59 and a twelve month high of $86.94.

Inari Medical (NASDAQ:NARI – Get Rating) last announced its earnings results on Wednesday, May 3rd. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.19. The business had revenue of $116.17 million for the quarter, compared to analyst estimates of $110.30 million. Inari Medical had a negative return on equity of 6.78% and a negative net margin of 6.87%. The company’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.06) EPS. As a group, research analysts anticipate that Inari Medical, Inc. will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Inari Medical

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. boosted its holdings in shares of Inari Medical by 64,866.7% in the 1st quarter. Rockefeller Capital Management L.P. now owns 3,898 shares of the company’s stock worth $240,000 after purchasing an additional 3,892 shares in the last quarter. Financial Enhancement Group LLC purchased a new position in shares of Inari Medical in the 1st quarter worth about $1,985,000. Thrivent Financial for Lutherans boosted its holdings in shares of Inari Medical by 2.6% in the 1st quarter. Thrivent Financial for Lutherans now owns 279,380 shares of the company’s stock worth $17,249,000 after purchasing an additional 6,984 shares in the last quarter. Segall Bryant & Hamill LLC boosted its holdings in shares of Inari Medical by 1.3% in the 1st quarter. Segall Bryant & Hamill LLC now owns 122,166 shares of the company’s stock worth $7,542,000 after purchasing an additional 1,523 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Inari Medical by 4.2% in the 1st quarter. State Street Corp now owns 1,659,895 shares of the company’s stock worth $102,482,000 after purchasing an additional 66,530 shares in the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on NARI. Canaccord Genuity Group boosted their target price on Inari Medical from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. Truist Financial boosted their price objective on Inari Medical from $68.00 to $70.00 in a research note on Tuesday, April 18th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.11.

Inari Medical Company Profile

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Inari Medical, Inc, a medical device company, develops, manufactures, markets, and sells devices for the interventional treatment of venous diseases in the United States. The company provides ClotTriever, a mechanical thrombectomy system, which is designed to core, capture, and remove large clots from large vessels, as well as for treatment of deep vein thrombosis; and FlowTriever, a large bore catheter-based aspiration and mechanical thrombectomy system, for treatment of pulmonary embolism.