Inari Medical, Inc. (NASDAQ:NARI) COO Sells $393,350.00 in Stock

Inari Medical, Inc. (NASDAQ:NARI – Get Rating) COO Andrew Hykes sold 5,000 shares of Inari Medical stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $78.67, for a total value of $393,350.00. Following the sale, the chief operating officer now directly owns 135,991 shares in the company, valued at $10,698,411.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Tuesday, July 5th, Andrew Hykes sold 5,000 shares of Inari Medical stock. The shares were sold at an average price of $70.31, for a total value of $351,550.00.
• On Tuesday, June 7th, Andrew Hykes sold 5,000 shares of Inari Medical stock. The shares were sold at an average price of $70.08, for a total value of $350,400.00.

Inari Medical Stock Up 4.4 %

Shares of NARI opened at $84.69 on Friday. The business’s 50 day moving average price is $70.55 and its 200-day moving average price is $75.87. Inari Medical, Inc. has a 52 week low of $50.50 and a 52 week high of $100.00. The stock has a market cap of $4.50 billion, a P/E ratio of -292.03 and a beta of 1.44.

Inari Medical (NASDAQ:NARI – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Inari Medical had a negative net margin of 4.47% and a negative return on equity of 5.05%. The company had revenue of $86.75 million during the quarter, compared to analyst estimates of $83.61 million. During the same period in the previous year, the business earned $0.13 EPS. The firm’s revenue for the quarter was up 51.1% on a year-over-year basis. On average, equities analysts anticipate that Inari Medical, Inc. will post -0.76 EPS for the current year.

Hedge Funds Weigh In On Inari Medical

A number of hedge funds have recently added to or reduced their stakes in NARI. Wellington Management Group LLP raised its holdings in Inari Medical by 46.8% in the 1st quarter. Wellington Management Group LLP now owns 4,626,607 shares of the company’s stock worth $419,355,000 after acquiring an additional 1,475,313 shares during the last quarter. Jennison Associates LLC raised its holdings in Inari Medical by 174.4% in the 4th quarter. Jennison Associates LLC now owns 755,477 shares of the company’s stock worth $68,952,000 after acquiring an additional 480,150 shares during the last quarter. Vanguard Group Inc. raised its holdings in Inari Medical by 13.4% in the 1st quarter. Vanguard Group Inc. now owns 3,518,646 shares of the company’s stock worth $318,930,000 after acquiring an additional 416,425 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Inari Medical by 17.2% in the 4th quarter. Alliancebernstein L.P. now owns 2,777,274 shares of the company’s stock worth $253,482,000 after acquiring an additional 407,400 shares during the last quarter. Finally, Brown Advisory Inc. raised its holdings in Inari Medical by 54.9% in the 2nd quarter. Brown Advisory Inc. now owns 1,075,189 shares of the company’s stock worth $73,197,000 after acquiring an additional 380,961 shares during the last quarter. 67.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on NARI shares. Piper Sandler started coverage on Inari Medical in a research report on Tuesday, June 21st. They set an “overweight” rating and a $100.00 price objective on the stock. BTIG Research dropped their price target on Inari Medical from $130.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, June 24th. Finally, Morgan Stanley dropped their price target on Inari Medical from $108.00 to $93.00 and set an “overweight” rating on the stock in a research report on Friday, July 15th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $96.67.

Inari Medical Company Profile

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Inari Medical, Inc, a medical device company, develops, manufactures, markets, and sells devices for the interventional treatment of venous diseases in the United States. The company provides ClotTriever, a mechanical thrombectomy system, which is designed to core, capture, and remove large clots from large vessels, as well as for treatment of deep vein thrombosis; and FlowTriever, a large bore catheter-based aspiration and mechanical thrombectomy system, for treatment of pulmonary embolism.

Further Reading

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