Inari Medical (NASDAQ:NARI) Stock Price Down 4.9% After Insider Selling

Inari Medical, Inc. (NASDAQ:NARI) shares traded down 4.9% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $43.07 and last traded at $43.07. 132,373 shares were traded during trading, a decline of 88% from the average session volume of 1,087,771 shares. The stock had previously closed at $45.30.

Specifically, CFO Mitch C. Hill sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $40.96, for a total transaction of $245,760.00. Following the completion of the sale, the chief financial officer now directly owns 181,294 shares of the company’s stock, valued at approximately $7,425,802.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Andrew Hykes sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the transaction, the chief executive officer now directly owns 465,474 shares of the company’s stock, valued at approximately $23,273,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mitch C. Hill sold 6,000 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $40.96, for a total value of $245,760.00. Following the completion of the sale, the chief financial officer now directly owns 181,294 shares of the company’s stock, valued at $7,425,802.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 160,964 shares of company stock valued at $7,502,234. 10.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NARI shares. Needham & Company LLC decreased their price objective on Inari Medical from $72.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Wells Fargo & Company cut 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, May 1st. Canaccord Genuity Group dropped their price objective on Inari Medical from $75.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Piper Sandler decreased their target price on Inari Medical from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Finally, Truist Financial dropped their price target on Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.71.

Inari Medical Stock Up 5.1 %

The stock has a 50-day simple moving average of $44.20 and a two-hundred day simple moving average of $51.32. The firm has a market cap of $2.64 billion, a PE ratio of -110.80 and a beta of 1.02.

Inari Medical (NASDAQ:NARI) last released its earnings results on Tuesday, April 30th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.15). Inari Medical had a negative return on equity of 1.65% and a negative net margin of 4.54%. The firm had revenue of $143.19 million during the quarter, compared to the consensus estimate of $138.32 million. Research analysts expect that Inari Medical, Inc. will post -0.41 earnings per share for the current year.

Hedge Funds Weigh In On Inari Medical

Hedge funds have recently modified their holdings of the company. D.A. Davidson & CO. lifted its holdings in Inari Medical by 1.8% in the 4th quarter. D.A. Davidson & CO. now owns 10,570 shares of the company’s stock worth $686,000 after buying an additional 188 shares during the period. New York State Teachers Retirement System raised its holdings in shares of Inari Medical by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 53,924 shares of the company’s stock valued at $3,501,000 after acquiring an additional 233 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Inari Medical by 27.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,098 shares of the company’s stock worth $71,000 after acquiring an additional 236 shares during the period. Bessemer Group Inc. boosted its holdings in Inari Medical by 16.4% in the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock valued at $117,000 after acquiring an additional 344 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in Inari Medical by 0.6% during the 4th quarter. Retirement Systems of Alabama now owns 64,100 shares of the company’s stock valued at $4,161,000 after purchasing an additional 366 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

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.