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 Inari Medical stock in a transaction dated 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 directly owns 643,296 shares of the company’s stock, valued at approximately $29,482,255.68. The sale was disclosed in a document filed with the SEC, 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 %

Shares of NASDAQ:NARI opened at $43.84 on Friday. The firm has a 50 day moving average of $48.25 and a 200-day moving average of $46.07. The stock has a market capitalization of $2.55 billion, a PE ratio of -106.93 and a beta of 1.00. Inari Medical, Inc. has a 12 month low of $36.73 and a 12 month high of $69.40.

Inari Medical (NASDAQ:NARI) last issued its earnings results on Tuesday, July 30th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.25). The firm had revenue of $145.82 million during the quarter, compared to analyst estimates 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, research analysts predict that Inari Medical, Inc. will post -0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NARI has been the subject of a number of research reports. William Blair initiated coverage on shares of Inari Medical in a research note on Thursday, July 25th. They set an “outperform” rating for the company. Leerink Partners initiated coverage on shares of Inari Medical in a research note on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 target price for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Inari Medical in a research note on Friday, August 9th. They set a “buy” rating and a $68.00 target price for the company. Piper Sandler reiterated a “neutral” rating and issued a $50.00 price objective on shares of Inari Medical in a research note on Monday, August 26th. Finally, Truist Financial reiterated a “hold” rating and issued a $55.00 price objective (down previously from $60.00) on shares of Inari Medical in a research note on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Inari Medical presently has an average rating of “Hold” and a consensus price target of $58.44.

Hedge Funds Weigh In On Inari Medical

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Inari Medical by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 596,007 shares of the company’s stock valued at $38,693,000 after buying an additional 41,555 shares in the last quarter. Norges Bank bought a new stake in shares of Inari Medical during the 4th quarter valued at approximately $29,491,000. Motley Fool Asset Management LLC grew its holdings in shares of Inari Medical by 46.2% during the 1st quarter. Motley Fool Asset Management LLC now owns 64,677 shares of the company’s stock valued at $3,103,000 after purchasing an additional 20,438 shares during the last quarter. Bamco Inc. NY grew its holdings in shares of Inari Medical by 27.4% during the 1st quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock valued at $37,288,000 after purchasing an additional 167,000 shares during the last quarter. Finally, Point72 Europe London LLP grew its holdings in shares of Inari Medical by 91.8% during the 4th quarter. Point72 Europe London LLP now owns 332,202 shares of the company’s stock valued at $21,567,000 after purchasing an additional 158,997 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.