Andrew Hykes Sells 3,000 Shares of Inari Medical, Inc. (NASDAQ:NARI) Stock

Inari Medical, Inc. (NASDAQ:NARI) CEO Andrew Hykes sold 3,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $50.08, for a total value of $150,240.00. Following the completion of the sale, the chief executive officer now owns 462,474 shares of the company’s stock, valued at approximately $23,160,697.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Andrew Hykes also recently made the following trade(s):

• On Tuesday, May 28th, Andrew Hykes sold 3,000 shares of Inari Medical stock. The shares were sold at an average price of $50.00, for a total value of $150,000.00.

Inari Medical Stock Up 0.4 %

Shares of NASDAQ:NARI traded up $0.21 on Wednesday, reaching $50.01. The company had a trading volume of 259,599 shares, compared to its average volume of 1,058,857. Inari Medical, Inc. has a twelve month low of $36.73 and a twelve month high of $71.85. The stock has a 50-day moving average price of $45.72 and a 200 day moving average price of $50.19. The stock has a market capitalization of $2.91 billion, a P/E ratio of -121.98 and a beta of 1.01.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.15). Inari Medical had a negative return on equity of 1.65% and a negative net margin of 4.54%. The company had revenue of $143.19 million during the quarter, compared to analyst estimates of $138.32 million. On average, sell-side analysts predict that Inari Medical, Inc. will post -0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inari Medical

Large investors have recently made changes to their positions in the business. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Inari Medical during the 1st quarter worth about $30,000. GAMMA Investing LLC lifted its position in shares of Inari Medical by 164.7% during the 2nd quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $34,000 after purchasing an additional 438 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Inari Medical by 27.4% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock worth $71,000 after purchasing an additional 236 shares during the last quarter. Covestor Ltd lifted its position in shares of Inari Medical by 30.2% during the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after purchasing an additional 376 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in Inari Medical by 16.4% during the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock valued at $117,000 after acquiring an additional 344 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Canaccord Genuity Group cut their price objective on Inari Medical from $75.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Truist Financial cut their price objective on Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Needham & Company LLC cut their price objective on Inari Medical from $72.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Wells Fargo & Company cut their price objective on Inari Medical from $100.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Finally, Piper Sandler cut their price objective on Inari Medical from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.71.

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.