Inari Medical, Inc. (NASDAQ:NARI) CEO Andrew Hykes Sells 37,448 Shares

Inari Medical, Inc. (NASDAQ:NARI) CEO Andrew Hykes sold 37,448 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $59.82, for a total transaction of $2,240,139.36. Following the sale, the chief executive officer now directly owns 434,817 shares of the company’s stock, valued at approximately $26,010,752.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Inari Medical Stock Performance

Shares of NASDAQ:NARI opened at $57.98 on Friday. The stock’s fifty day simple moving average is $60.77 and its two-hundred day simple moving average is $61.47. Inari Medical, Inc. has a 1-year low of $47.81 and a 1-year high of $80.69.

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

Institutional Investors Weigh In On Inari Medical

A number of hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp raised its stake in shares of Inari Medical by 54.3% during the 3rd quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock worth $32,000 after purchasing an additional 171 shares during the period. Bessemer Group Inc. raised its stake in Inari Medical by 12.3% in the 2nd quarter. Bessemer Group Inc. now owns 1,695 shares of the company’s stock valued at $99,000 after acquiring an additional 186 shares during the period. Commonwealth Equity Services LLC raised its stake in Inari Medical by 1.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 10,814 shares of the company’s stock valued at $785,000 after acquiring an additional 191 shares during the period. Victory Capital Management Inc. raised its stake in Inari Medical by 2.4% in the 2nd quarter. Victory Capital Management Inc. now owns 8,399 shares of the company’s stock valued at $488,000 after acquiring an additional 198 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in Inari Medical by 15.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,575 shares of the company’s stock valued at $100,000 after acquiring an additional 208 shares during the period. 87.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NARI shares. Truist Financial raised their price objective on shares of Inari Medical from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. Wells Fargo & Company reduced their price target on shares of Inari Medical from $105.00 to $100.00 in a research report 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 report on Thursday, November 2nd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $83.00 price target on shares of Inari Medical in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

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.