Insider Selling: Inari Medical, Inc. (NASDAQ:NARI) CFO Sells $245,760.00 in Stock

Inari Medical, Inc. (NASDAQ:NARI) CFO Mitch C. Hill sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $40.96, for a total value of $245,760.00. Following the completion of the transaction, the chief financial officer now owns 181,294 shares in the company, valued at approximately $7,425,802.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Inari Medical Stock Performance

Inari Medical stock opened at $38.59 on Friday. The stock has a market cap of $2.24 billion, a P/E ratio of -1,286.33 and a beta of 0.84. Inari Medical, Inc. has a fifty-two week low of $37.92 and a fifty-two week high of $71.85. The firm’s fifty day moving average price is $46.89 and its 200-day moving average price is $55.32.

Inari Medical (NASDAQ:NARI) last released its quarterly earnings results 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). The firm had revenue of $132.10 million during the quarter, compared to the consensus estimate of $131.82 million. Inari Medical had a positive return on equity of 1.23% and a negative net margin of 0.33%. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.11) EPS. Sell-side analysts predict that Inari Medical, Inc. will post -0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NARI shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $75.00 price objective on shares of Inari Medical in a research note on Friday, April 12th. Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of Inari Medical in a research report on Wednesday, March 6th. Piper Sandler downgraded Inari Medical from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $55.00 in a research report on Thursday, February 29th. Finally, Truist Financial dropped their target price on Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Inari Medical currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.71.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust bought a new position in shares of Inari Medical in the first quarter worth $25,000. Quarry LP bought a new position in Inari Medical in the second quarter valued at $27,000. Fifth Third Bancorp increased its stake in Inari Medical by 54.3% in the third quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock valued at $32,000 after acquiring an additional 171 shares during the last quarter. Point72 Middle East FZE bought a new position in Inari Medical in the fourth quarter valued at $55,000. Finally, FMR LLC increased its stake in Inari Medical by 42.6% in the second quarter. FMR LLC now owns 824 shares of the company’s stock valued at $56,000 after acquiring an additional 246 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

Inari Medical Company Profile

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.