Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman Sells 40,000 Shares

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.05, for a total transaction of $2,002,000.00. Following the transaction, the director now directly owns 561,233 shares of the company’s stock, valued at $28,089,711.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, October 16th, William Hoffman sold 40,000 shares of Inari Medical stock. The stock was sold at an average price of $45.02, for a total transaction of $1,800,800.00.
• On Monday, September 16th, William Hoffman sold 40,000 shares of Inari Medical stock. The shares were sold at an average price of $45.83, for a total transaction of $1,833,200.00.

Inari Medical Price Performance

NARI stock opened at $48.40 on Friday. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of -35.85 and a beta of 1.00. The company has a fifty day moving average price of $43.50 and a two-hundred day moving average price of $45.97. Inari Medical, Inc. has a one year low of $36.73 and a one year high of $67.13.

Inari Medical (NASDAQ:NARI) last announced its earnings results on Tuesday, July 30th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.25). The company had revenue of $145.82 million for the quarter, compared to the consensus estimate of $143.96 million. Inari Medical had a negative return on equity of 10.09% and a negative net margin of 13.68%. Research analysts anticipate that Inari Medical, Inc. will post -0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Inari Medical

Several institutional investors and hedge funds have recently made changes to their positions in NARI. Bessemer Group Inc. increased its stake in shares of Inari Medical by 16.4% during the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock worth $117,000 after purchasing an additional 344 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Inari Medical by 7.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock valued at $234,000 after buying an additional 348 shares in the last quarter. Arizona State Retirement System increased its position in Inari Medical by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock worth $703,000 after buying an additional 358 shares during the period. Covestor Ltd increased its position in 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 buying an additional 376 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of Inari Medical by 83.5% in the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock valued at $46,000 after acquiring an additional 435 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NARI. Stifel Nicolaus assumed coverage on Inari Medical in a report on Tuesday, September 17th. They issued a “hold” rating and a $50.00 price objective for the company. William Blair initiated coverage on Inari Medical in a research note on Thursday, July 25th. They issued an “outperform” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research note on Tuesday. Truist Financial raised their target price on shares of Inari Medical from $46.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday. Finally, Wells Fargo & Company lowered their target price on shares of Inari Medical from $84.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Inari Medical currently has a consensus rating of “Hold” and an average price target of $58.89.

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.