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

Inari Medical, Inc. (NASDAQ:NARIGet Free Report) Director William Hoffman sold 40,000 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $46.60, for a total value of $1,864,000.00. Following the completion of the transaction, the director now owns 925,359 shares in the company, valued at approximately $43,121,729.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

  • On Wednesday, May 1st, William Hoffman sold 38,549 shares of Inari Medical stock. The shares were sold at an average price of $42.00, for a total value of $1,619,058.00.
  • On Tuesday, April 16th, William Hoffman sold 1,451 shares of Inari Medical stock. The stock was sold at an average price of $40.00, for a total transaction of $58,040.00.
  • 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 transaction of $1,645,200.00.

Inari Medical Stock Performance

NARI stock opened at $45.75 on Friday. The stock’s 50 day moving average price is $42.42 and its 200 day moving average price is $52.79. The firm has a market cap of $2.66 billion, a P/E ratio of -111.59 and a beta of 0.93. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $71.85.

Inari Medical (NASDAQ:NARIGet Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.09). Inari Medical had a negative net margin of 4.54% and a negative return on equity of 1.65%. The firm had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $131.82 million. During the same period in the previous year, the company posted ($0.11) EPS. The business’s quarterly revenue was up 22.5% on a year-over-year basis. On average, research analysts predict that Inari Medical, Inc. will post -0.41 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on NARI. Canaccord Genuity Group reduced their price target on shares of Inari Medical from $75.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Needham & Company LLC lowered their price target on Inari Medical from $72.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Wells Fargo & Company reduced their price objective on Inari Medical from $100.00 to $84.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Piper Sandler dropped their price objective on Inari Medical from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, Truist Financial decreased their target price on Inari Medical from $61.00 to $52.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.71.

View Our Latest Report on Inari Medical

Institutional Investors Weigh In On Inari Medical

Hedge funds have recently made changes to their positions in the business. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Inari Medical by 99.7% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 45,621 shares of the company’s stock valued at $2,962,000 after purchasing an additional 22,780 shares during the last quarter. New York State Common Retirement Fund grew its position in Inari Medical by 10.7% during the fourth quarter. New York State Common Retirement Fund now owns 311,410 shares of the company’s stock valued at $20,217,000 after acquiring an additional 29,983 shares during the period. Bamco Inc. NY increased its stake in Inari Medical by 18.2% during the third quarter. Bamco Inc. NY now owns 557,937 shares of the company’s stock worth $36,489,000 after acquiring an additional 86,000 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Inari Medical in the 3rd quarter worth about $2,564,000. Finally, Strs Ohio grew its holdings in shares of Inari Medical by 27.1% during the 4th quarter. Strs Ohio now owns 6,100 shares of the company’s stock worth $396,000 after purchasing an additional 1,300 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

About Inari Medical

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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.

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