William Hoffman Sells 40,000 Shares of Inari Medical, Inc. (NASDAQ:NARI) Stock

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 40,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.83, for a total transaction of $1,833,200.00. Following the completion of the transaction, the director now owns 643,296 shares in the company, valued at $29,482,255.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, July 16th, William Hoffman sold 60,000 shares of Inari Medical stock. The stock was sold at an average price of $56.74, for a total transaction of $3,404,400.00.
• On Monday, July 1st, William Hoffman sold 20,000 shares of Inari Medical stock. The stock was sold at an average price of $50.15, for a total transaction of $1,003,000.00.

Inari Medical Trading Down 1.2 %

Inari Medical stock opened at $43.84 on Friday. The company has a market cap of $2.55 billion, a P/E ratio of -106.93 and a beta of 1.00. Inari Medical, Inc. has a 1-year low of $36.73 and a 1-year high of $69.40. The company has a fifty day simple moving average of $48.25 and a 200 day simple moving average of $46.07.

Inari Medical (NASDAQ:NARI) last released its earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.25). The business had revenue of $145.82 million during the quarter, compared to the consensus estimate of $143.96 million. Inari Medical had a negative net margin of 10.42% and a negative return on equity of 7.51%. On average, equities research analysts forecast that Inari Medical, Inc. will post -0.7 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NARI. Vanguard Group Inc. grew its position in shares of Inari Medical by 11.1% in the 1st quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock valued at $268,681,000 after acquiring an additional 561,562 shares during the period. Point72 Asset Management L.P. grew its position in shares of Inari Medical by 113.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock valued at $71,324,000 after acquiring an additional 786,691 shares during the period. Armistice Capital LLC grew its position in shares of Inari Medical by 353.1% in the 2nd quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock valued at $48,595,000 after acquiring an additional 786,501 shares during the period. American Century Companies Inc. grew its position in shares of Inari Medical by 26.8% in the 2nd quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock valued at $47,231,000 after acquiring an additional 207,485 shares during the period. Finally, Bamco Inc. NY grew its position in shares of Inari Medical by 27.4% in the 1st quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock valued at $37,288,000 after acquiring an additional 167,000 shares during the period. Institutional investors own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NARI. Truist Financial reiterated a “hold” rating and issued a $55.00 target price (down from $60.00) on shares of Inari Medical in a report on Wednesday, July 31st. Stifel Nicolaus began coverage on shares of Inari Medical in a report on Tuesday. They issued a “hold” rating and a $50.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Inari Medical in a report on Friday, August 9th. They issued a “buy” rating and a $68.00 target price on the stock. Canaccord Genuity Group increased their price objective on shares of Inari Medical from $55.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Leerink Partners initiated coverage on shares of Inari Medical in a research report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price objective for the company. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $58.44.

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.