Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman Sells 1,451 Shares

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 1,451 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $40.00, for a total value of $58,040.00. Following the sale, the director now directly owns 999,782 shares of the company’s stock, valued at $39,991,280. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, March 18th, William Hoffman sold 40,000 shares of Inari Medical stock. The shares were sold at an average price of $41.13, for a total value of $1,645,200.00.

Inari Medical Price Performance

NASDAQ NARI opened at $38.64 on Friday. Inari Medical, Inc. has a 52 week low of $37.92 and a 52 week high of $71.85. The stock has a fifty day moving average of $47.29 and a 200-day moving average of $55.52.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Inari Medical had a positive return on equity of 1.23% and a negative net margin of 0.33%. The company had revenue of $132.10 million for the quarter, compared to analyst estimates of $131.82 million. During the same period last year, the firm earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, sell-side analysts anticipate that Inari Medical, Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inari Medical

A number of institutional investors have recently made changes to their positions in NARI. Parkside Financial Bank & Trust acquired a new stake in shares of Inari Medical during the first quarter worth $25,000. Quarry LP acquired a new stake in shares of Inari Medical during the second quarter worth $27,000. Fifth Third Bancorp lifted its holdings in Inari Medical by 54.3% during the third quarter. Fifth Third Bancorp now owns 486 shares of the company’s stock worth $32,000 after acquiring an additional 171 shares in the last quarter. Point72 Middle East FZE bought a new position in Inari Medical during the fourth quarter worth about $55,000. Finally, FMR LLC grew its stake in Inari Medical by 42.6% in the second quarter. FMR LLC now owns 824 shares of the company’s stock valued at $56,000 after acquiring an additional 246 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on NARI. Canaccord Genuity Group reaffirmed a “buy” rating and set a $75.00 price target on shares of Inari Medical in a report on Friday, April 12th. Truist Financial lowered their target price on Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Needham & Company LLC reissued a “buy” rating and issued a $72.00 target price on shares of Inari Medical in a research note on Wednesday, March 6th. Finally, Piper Sandler cut Inari Medical from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $85.00 to $55.00 in a research note on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.71.

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.