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 the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.05, for a total value of $2,002,000.00. Following the transaction, the director now owns 561,233 shares in the company, valued at approximately $28,089,711.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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.
• On Monday, September 16th, William Hoffman sold 40,000 shares of Inari Medical stock. The stock was sold at an average price of $45.83, for a total value of $1,833,200.00.

Inari Medical Price Performance

NARI stock opened at $48.74 on Friday. The stock has a market capitalization of $2.85 billion, a P/E ratio of -35.90 and a beta of 1.00. The business has a 50-day moving average of $43.56 and a 200-day moving average of $45.99. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $67.13.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings data on Tuesday, July 30th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.25). The firm had revenue of $145.82 million for the quarter, compared to analyst estimates of $143.96 million. Inari Medical had a negative return on equity of 10.09% and a negative net margin of 13.68%. Equities analysts expect that Inari Medical, Inc. will post -0.74 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. boosted its position in Inari Medical by 113.3% during the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock valued at $71,324,000 after purchasing an additional 786,691 shares during the last quarter. Armistice Capital LLC boosted its position in 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. Vanguard Group Inc. boosted its position in Inari Medical by 11.1% during the first quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock valued at $268,681,000 after purchasing an additional 561,562 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Inari Medical by 1,219.9% during the second quarter. The Manufacturers Life Insurance Company now owns 394,901 shares of the company’s stock valued at $19,014,000 after purchasing an additional 364,983 shares during the last quarter. Finally, First Light Asset Management LLC boosted its position in Inari Medical by 120.8% during the second quarter. First Light Asset Management LLC now owns 472,384 shares of the company’s stock valued at $22,745,000 after purchasing an additional 258,444 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NARI has been the subject of a number of analyst reports. Stifel Nicolaus assumed coverage on shares of Inari Medical in a research note on Tuesday, September 17th. They set a “hold” rating and a $50.00 price target for the company. William Blair initiated coverage on Inari Medical in a research note on Thursday, July 25th. They issued an “outperform” rating on the stock. Leerink Partners initiated coverage on Inari Medical in a research report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 target price for the company. Leerink Partnrs upgraded Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a report on Tuesday. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $58.89.

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.