Insider Selling: Inari Medical, Inc. (NASDAQ:NARI) Director Sells 55,000 Shares of Stock

Inari Medical, Inc. (NASDAQ:NARIGet Rating) Director William Hoffman sold 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $66.90, for a total value of $3,679,500.00. Following the completion of the sale, the director now owns 345,923 shares in the company, valued at $23,142,248.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • On Thursday, December 15th, William Hoffman sold 55,000 shares of Inari Medical stock. The stock was sold at an average price of $66.61, for a total value of $3,663,550.00.
  • On Tuesday, November 15th, William Hoffman sold 55,000 shares of Inari Medical stock. The stock was sold at an average price of $81.67, for a total value of $4,491,850.00.

Inari Medical Trading Up 1.2 %

Shares of NARI opened at $62.39 on Friday. The company has a market capitalization of $3.35 billion, a PE ratio of -148.55 and a beta of 1.21. The business’s 50 day moving average is $69.41 and its 200 day moving average is $72.55. Inari Medical, Inc. has a 12-month low of $50.50 and a 12-month high of $100.00.

Inari Medical (NASDAQ:NARIGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.05. Inari Medical had a negative return on equity of 6.02% and a negative net margin of 6.23%. The company had revenue of $96.20 million during the quarter, compared to analysts’ expectations of $90.65 million. Equities research analysts predict that Inari Medical, Inc. will post -0.61 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. grew its stake in Inari Medical by 6.0% during the 4th quarter. Crossmark Global Holdings Inc. now owns 4,049 shares of the company’s stock valued at $257,000 after purchasing an additional 229 shares during the last quarter. Yousif Capital Management LLC raised its holdings in shares of Inari Medical by 1.9% during the fourth quarter. Yousif Capital Management LLC now owns 25,894 shares of the company’s stock valued at $1,646,000 after acquiring an additional 477 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Inari Medical by 27.2% during the third quarter. Bank of New York Mellon Corp now owns 486,423 shares of the company’s stock valued at $35,333,000 after acquiring an additional 103,966 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Inari Medical during the third quarter valued at approximately $4,418,000. Finally, California State Teachers Retirement System increased its holdings in shares of Inari Medical by 0.5% in the third quarter. California State Teachers Retirement System now owns 55,624 shares of the company’s stock valued at $4,041,000 after purchasing an additional 279 shares during the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Jefferies Financial Group started coverage on Inari Medical in a report on Wednesday, October 12th. They set a “buy” rating and a $88.00 price objective on the stock. BTIG Research reduced their price target on Inari Medical from $100.00 to $97.00 and set a “buy” rating on the stock in a research report on Monday, October 17th. Truist Financial cut their price objective on Inari Medical from $84.00 to $75.00 and set a “hold” rating on the stock in a research report on Tuesday, December 20th. Berenberg Bank started coverage on Inari Medical in a research note on Thursday, September 29th. They issued a “buy” rating and a $85.00 target price for the company. Finally, Wells Fargo & Company lowered their price objective on Inari Medical from $125.00 to $105.00 in a research note on Thursday, November 3rd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.60.

About Inari Medical

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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.

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