Inari Medical, Inc. (NASDAQ:NARI) Director Sells $12,094,000.00 in Stock

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 200,000 shares of Inari Medical stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $60.47, for a total transaction of $12,094,000.00. Following the transaction, the director now directly owns 238,987 shares of the company’s stock, valued at $14,451,543.89. This represents a 45.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, December 16th, William Hoffman sold 60,000 shares of Inari Medical stock. The stock was sold at an average price of $55.66, for a total transaction of $3,339,600.00.
• On Monday, November 18th, William Hoffman sold 60,000 shares of Inari Medical stock. The stock was sold at an average price of $51.16, for a total value of $3,069,600.00.
• On Tuesday, October 29th, William Hoffman sold 40,000 shares of Inari Medical stock. The shares were sold at an average price of $50.05, for a total value of $2,002,000.00.
• On Wednesday, October 16th, William Hoffman sold 40,000 shares of Inari Medical stock. The stock was sold at an average price of $45.02, for a total value of $1,800,800.00.

Inari Medical Stock Performance

NARI traded down $0.15 during trading on Wednesday, reaching $79.30. 11,583,187 shares of the company’s stock were exchanged, compared to its average volume of 10,312,277. The company’s fifty day moving average price is $52.85 and its 200-day moving average price is $48.92. The firm has a market capitalization of $4.64 billion, a PE ratio of -58.74 and a beta of 0.97. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $79.69.

Institutional Investors Weigh In On Inari Medical

Institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC acquired a new position in Inari Medical in the second quarter valued at about $421,000. Arizona State Retirement System increased its stake in shares of Inari Medical by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock valued at $703,000 after acquiring an additional 358 shares during the last quarter. Quest Partners LLC raised its position in shares of Inari Medical by 31,257.1% in the 2nd quarter. Quest Partners LLC now owns 2,195 shares of the company’s stock valued at $106,000 after acquiring an additional 2,188 shares during the period. American Century Companies Inc. boosted its stake in Inari Medical by 26.8% during the 2nd quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock worth $47,231,000 after acquiring an additional 207,485 shares during the last quarter. Finally, Sofinnova Investments Inc. grew its holdings in Inari Medical by 1,425.4% during the second quarter. Sofinnova Investments Inc. now owns 155,838 shares of the company’s stock valued at $7,504,000 after purchasing an additional 145,622 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 price target (down from $81.00) on shares of Inari Medical in a report on Tuesday. Oppenheimer started coverage on shares of Inari Medical in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $75.00 price objective for the company. Stifel Nicolaus began coverage on shares of Inari Medical in a research report on Tuesday, September 17th. They set a “hold” rating and a $50.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Finally, Piper Sandler boosted their price objective on shares of Inari Medical from $52.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $68.00.

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.