Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman Sells 200,000 Shares

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 200,000 shares of the company’s 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 completion of the transaction, the director now owns 238,987 shares in the company, valued at approximately $14,451,543.89. This trade represents a 45.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 shares were 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 transaction of $3,069,600.00.
• On Tuesday, October 29th, William Hoffman sold 40,000 shares of Inari Medical stock. The stock was 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 shares were sold at an average price of $45.02, for a total value of $1,800,800.00.

Inari Medical Stock Performance

Shares of NARI opened at $79.30 on Thursday. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $79.69. The firm has a 50 day moving average price of $52.85 and a 200-day moving average price of $48.92. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of -58.74 and a beta of 0.97.

Analysts Set New Price Targets

Several brokerages recently commented on NARI. Robert W. Baird restated a “neutral” rating and set a $80.00 target price (down previously from $81.00) on shares of Inari Medical in a research report on Tuesday. Canaccord Genuity Group reiterated a “hold” rating and issued a $80.00 price objective (up previously from $74.00) on shares of Inari Medical in a research note on Tuesday. Truist Financial increased their price objective on shares of Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Baird R W lowered shares of Inari Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, BTIG Research restated a “neutral” rating on shares of Inari Medical in a report on Wednesday. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Inari Medical has a consensus rating of “Hold” and an average price target of $68.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NARI. Jennison Associates LLC boosted its stake in shares of Inari Medical by 63.2% during the third quarter. Jennison Associates LLC now owns 1,576,641 shares of the company’s stock valued at $65,021,000 after purchasing an additional 610,468 shares during the period. Vestal Point Capital LP grew its stake in Inari Medical by 342.9% in the third quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company’s stock worth $63,922,000 after purchasing an additional 1,200,000 shares during the period. Point72 Asset Management L.P. increased its stake 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 worth $71,324,000 after acquiring an additional 786,691 shares in the last quarter. Armistice Capital LLC lifted its holdings in shares of Inari Medical by 353.1% during the second quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock valued at $48,595,000 after purchasing an additional 786,501 shares during the last quarter. Finally, Bamco Inc. NY boosted its position in shares of Inari Medical by 29.5% in the 3rd quarter. Bamco Inc. NY now owns 1,006,129 shares of the company’s stock worth $41,493,000 after purchasing an additional 228,977 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

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.