Insider Selling: Inari Medical, Inc. (NASDAQ:NARI) Director Sells 60,000 Shares of Stock

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $51.16, for a total transaction of $3,069,600.00. Following the completion of the transaction, the director now owns 501,233 shares of the company’s stock, valued at $25,643,080.28. This trade represents a 10.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, October 29th, William Hoffman sold 40,000 shares of Inari Medical stock. The stock was sold at an average price of $50.05, for a total value of $2,002,000.00.
• 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 value 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 Trading Down 3.9 %

Inari Medical stock traded down $1.97 during mid-day trading on Wednesday, reaching $49.00. The company had a trading volume of 641,559 shares, compared to its average volume of 985,745. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $67.13. The company has a market cap of $2.87 billion, a P/E ratio of -37.76 and a beta of 0.96. The business has a fifty day simple moving average of $45.45 and a 200 day simple moving average of $47.17.

Hedge Funds Weigh In On Inari Medical

A number of hedge funds have recently modified their holdings of NARI. Vestal Point Capital LP lifted its holdings in shares of Inari Medical by 342.9% during the third quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock worth $63,922,000 after purchasing an additional 1,200,000 shares during the period. Point72 Asset Management L.P. raised its stake in Inari Medical by 113.3% during the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock worth $71,324,000 after buying an additional 786,691 shares during the last quarter. Armistice Capital LLC raised its stake in Inari Medical by 353.1% during the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock worth $48,595,000 after buying an additional 786,501 shares during the last quarter. Jennison Associates LLC raised its stake in Inari Medical by 63.2% during the third quarter. Jennison Associates LLC now owns 1,576,641 shares of the company’s stock worth $65,021,000 after buying an additional 610,468 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Inari Medical by 11.1% during the first quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock worth $268,681,000 after buying an additional 561,562 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Leerink Partnrs raised shares of Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a report on Tuesday, October 29th. Stifel Nicolaus started coverage on shares of Inari Medical in a report on Tuesday, September 17th. They set a “hold” rating and a $50.00 target price on the stock. William Blair started coverage on shares of Inari Medical in a report on Thursday, July 25th. They set an “outperform” rating on the stock. Finally, Truist Financial lifted their price objective on shares of Inari Medical from $46.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $58.89.

Inari Medical Company Profile

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.