Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman Sells 38,549 Shares of Stock

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 38,549 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $42.00, for a total transaction of $1,619,058.00. Following the completion of the transaction, the director now directly owns 965,359 shares in the company, valued at $40,545,078. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, April 16th, William Hoffman sold 1,451 shares of Inari Medical stock. The shares were sold at an average price of $40.00, for a total value of $58,040.00.
• On Monday, March 18th, William Hoffman sold 40,000 shares of Inari Medical stock. The stock was sold at an average price of $41.13, for a total value of $1,645,200.00.

Inari Medical Price Performance

NARI opened at $42.03 on Friday. The business’s 50-day moving average price is $43.12 and its two-hundred day moving average price is $53.68. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $71.85.

Inari Medical (NASDAQ:NARI) last announced its earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. The firm had revenue of $132.10 million during the quarter, compared to analyst estimates of $131.82 million. During the same period in the prior year, the business posted ($0.11) EPS. The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. Equities analysts anticipate that Inari Medical, Inc. will post -0.41 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its stake in Inari Medical by 54.3% in the 3rd quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock valued at $32,000 after buying an additional 171 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Inari Medical in the 1st quarter valued at about $30,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Inari Medical by 27.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock valued at $71,000 after acquiring an additional 236 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Inari Medical by 139.7% in the third quarter. Nisa Investment Advisors LLC now owns 1,189 shares of the company’s stock valued at $78,000 after acquiring an additional 693 shares during the last quarter. Finally, Handelsinvest Investeringsforvaltning bought a new stake in Inari Medical during the fourth quarter worth about $185,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NARI shares. Canaccord Genuity Group reduced their target price on Inari Medical from $75.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday. Truist Financial lowered their target price on shares of Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Wells Fargo & Company decreased their price target on shares of Inari Medical from $100.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday. Piper Sandler dropped their price objective on Inari Medical from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Needham & Company LLC lowered their price target on Inari Medical from $72.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Inari Medical presently has an average rating of “Moderate Buy” and a consensus price target of $65.71.

About Inari Medical

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.