Inari Medical, Inc. (NASDAQ:NARI) CFO Sells $245,760.00 in Stock

Inari Medical, Inc. (NASDAQ:NARI) CFO Mitch C. Hill sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $40.96, for a total value of $245,760.00. Following the completion of the sale, the chief financial officer now directly owns 181,294 shares of the company’s stock, valued at approximately $7,425,802.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Inari Medical Stock Down 0.2 %

Inari Medical stock opened at $38.64 on Friday. The business has a 50-day simple moving average of $47.29 and a two-hundred day simple moving average of $55.52. The company has a market cap of $2.24 billion, a P/E ratio of -1,288.00 and a beta of 0.84. Inari Medical, Inc. has a 52-week low of $37.92 and a 52-week high of $71.85.

Inari Medical (NASDAQ:NARI) last issued its quarterly earnings data 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). The firm had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $131.82 million. Inari Medical had a positive return on equity of 1.23% and a negative net margin of 0.33%. The firm’s revenue was up 22.5% on a year-over-year basis. During the same period last year, the company earned ($0.11) earnings per share. Research analysts anticipate that Inari Medical, Inc. will post -0.39 EPS for the current fiscal year.

Institutional Trading of Inari Medical

Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in Inari Medical by 46.8% during the 1st quarter. Wellington Management Group LLP now owns 4,626,607 shares of the company’s stock valued at $419,355,000 after buying an additional 1,475,313 shares during the period. Norges Bank purchased a new stake in Inari Medical during the 4th quarter valued at $73,924,000. Price T Rowe Associates Inc. MD raised its holdings in Inari Medical by 132.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,863,816 shares of the company’s stock valued at $115,073,000 after buying an additional 1,060,839 shares during the period. Morgan Stanley raised its holdings in Inari Medical by 400.9% during the 4th quarter. Morgan Stanley now owns 1,273,630 shares of the company’s stock valued at $80,952,000 after buying an additional 1,019,378 shares during the period. Finally, BlackRock Inc. raised its holdings in Inari Medical by 13.0% during the 2nd quarter. BlackRock Inc. now owns 6,385,806 shares of the company’s stock valued at $371,271,000 after buying an additional 733,738 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NARI has been the topic of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $72.00 target price on shares of Inari Medical in a report on Wednesday, March 6th. Piper Sandler cut shares of Inari Medical from an “overweight” rating to a “neutral” rating and cut their price target for the company from $85.00 to $55.00 in a report on Thursday, February 29th. Truist Financial cut their price target on shares of Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $75.00 price target on shares of Inari Medical in a report on Friday, April 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.71.

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.