Insider Selling: Inari Medical, Inc. (NASDAQ:NARI) Director Sells 38,549 Shares of Stock

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 38,549 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $42.00, for a total transaction of $1,619,058.00. Following the completion of the sale, the director now owns 965,359 shares of the company’s stock, valued at approximately $40,545,078. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, April 16th, William Hoffman sold 1,451 shares of Inari Medical stock. The shares were sold at an average price of $40.00, for a total value of $58,040.00.
• On Monday, March 18th, William Hoffman sold 40,000 shares of Inari Medical stock. The stock was sold at an average price of $41.13, for a total value of $1,645,200.00.

Inari Medical Trading Up 0.1 %

NARI traded up $0.04 during trading on Friday, hitting $42.03. The company’s stock had a trading volume of 1,060,721 shares, compared to its average volume of 1,178,902. The firm’s 50 day moving average price is $43.42 and its two-hundred day moving average price is $53.79. Inari Medical, Inc. has a 12 month low of $36.73 and a 12 month high of $71.85.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.09). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. The company had revenue of $132.10 million during the quarter, compared to analyst estimates of $131.82 million. During the same quarter in the previous year, the business posted ($0.11) EPS. The company’s revenue was up 22.5% compared to the same quarter last year. Analysts predict that Inari Medical, Inc. will post -0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NARI. SG Americas Securities LLC bought a new stake in Inari Medical during the 3rd quarter worth about $962,000. Asset Management One Co. Ltd. lifted its stake in shares of Inari Medical by 19.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 47,390 shares of the company’s stock valued at $3,099,000 after purchasing an additional 7,720 shares during the period. Brown Advisory Inc. boosted its position in shares of Inari Medical by 3.1% in the 3rd quarter. Brown Advisory Inc. now owns 1,446,931 shares of the company’s stock worth $94,629,000 after purchasing an additional 43,657 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Inari Medical by 18.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,397 shares of the company’s stock worth $745,000 after purchasing an additional 1,755 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Inari Medical by 13.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,958 shares of the company’s stock valued at $1,632,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NARI. Truist Financial dropped their price target on shares of Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Wells Fargo & Company dropped their price objective on Inari Medical from $100.00 to $84.00 and set an “overweight” rating on the stock in a report on Wednesday. Piper Sandler reduced their target price on shares of Inari Medical from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday. Needham & Company LLC dropped their price target on shares of Inari Medical from $72.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Canaccord Genuity Group reduced their price objective on shares of Inari Medical from $75.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.