Mitch C. Hill Sells 6,500 Shares of Inari Medical, Inc. (NASDAQ:NARI) Stock

Inari Medical, Inc. (NASDAQ:NARI) CFO Mitch C. Hill sold 6,500 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $56.06, for a total value of $364,390.00. Following the completion of the sale, the chief financial officer now directly owns 170,230 shares of the company’s stock, valued at approximately $9,543,093.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Inari Medical Trading Up 3.8 %

Shares of NARI stock opened at $61.04 on Thursday. The company has a 50 day simple moving average of $61.01 and a two-hundred day simple moving average of $61.53. The stock has a market cap of $3.52 billion, a P/E ratio of -1,017.33 and a beta of 1.00. Inari Medical, Inc. has a 12 month low of $47.81 and a 12 month high of $83.84.

Inari Medical (NASDAQ:NARI) last announced its earnings results on Wednesday, November 1st. The company reported $0.05 EPS for the quarter. Inari Medical had a negative return on equity of 0.64% and a negative net margin of 0.59%. The company had revenue of $126.37 million for the quarter, compared to analysts’ expectations of $121.92 million. During the same period last year, the firm earned ($0.19) EPS. Inari Medical’s revenue for the quarter was up 31.4% compared to the same quarter last year. As a group, equities analysts forecast that Inari Medical, Inc. will post 0.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NARI. Wells Fargo & Company lowered their target price on Inari Medical from $105.00 to $100.00 in a research note on Thursday, August 3rd. Morgan Stanley restated an “overweight” rating and set a $83.00 target price on shares of Inari Medical in a research note on Thursday, August 3rd. Piper Sandler reduced their price target on shares of Inari Medical from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. Finally, Truist Financial increased their price objective on shares of Inari Medical from $60.00 to $65.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NARI. Parkside Financial Bank & Trust bought a new stake in Inari Medical during the 1st quarter worth approximately $25,000. Quarry LP bought a new stake in shares of Inari Medical during the 2nd quarter valued at $27,000. Pinebridge Investments L.P. purchased a new position in shares of Inari Medical during the 2nd quarter valued at $31,000. Fifth Third Bancorp boosted its holdings in Inari Medical by 54.3% in the 3rd quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock worth $32,000 after buying an additional 171 shares during the period. Finally, Point72 Middle East FZE purchased a new stake in Inari Medical in the 4th quarter worth $55,000. 87.75% of the stock is owned by hedge funds and other institutional investors.

About Inari Medical

Inari Medical, Inc builds minimally invasive, novel, and catheter-based mechanical thrombectomy systems for the specific disease states in the United States. The company provides ClotTriever, which is designed to core, capture, and remove large clots from large vessels for treatment of deep vein thrombosis and peripheral thrombus; and FlowTriever, 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.