Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman Sells 1,451 Shares

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 1,451 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $40.00, for a total transaction of $58,040.00. Following the completion of the transaction, the director now owns 999,782 shares of the company’s stock, valued at approximately $39,991,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

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

Inari Medical Stock Down 0.1 %

Shares of NASDAQ:NARI opened at $38.59 on Friday. The company has a 50-day simple moving average of $46.89 and a 200-day simple moving average of $55.32. Inari Medical, Inc. has a one year low of $37.92 and a one year high of $71.85.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust purchased a new position in Inari Medical during the first quarter worth about $25,000. Quarry LP purchased a new position in Inari Medical during the second quarter worth about $27,000. Fifth Third Bancorp raised its holdings in Inari Medical by 54.3% during the third quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock worth $32,000 after purchasing an additional 171 shares in the last quarter. Point72 Middle East FZE purchased a new position in Inari Medical during the fourth quarter worth about $55,000. Finally, FMR LLC grew its position in Inari Medical by 42.6% during the second quarter. FMR LLC now owns 824 shares of the company’s stock worth $56,000 after buying an additional 246 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $75.00 price objective on shares of Inari Medical in a research note on Friday, April 12th. Piper Sandler downgraded shares of Inari Medical from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $85.00 to $55.00 in a research note on Thursday, February 29th. Truist Financial decreased their price objective on shares of Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $72.00 price objective on shares of Inari Medical in a research note on Wednesday, March 6th. Two equities 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, Inari Medical has a consensus rating of “Moderate Buy” and a consensus target price 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.