Inari Medical, Inc. (NASDAQ:NARI) Director Sells $12,094,000.00 in Stock

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 200,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $60.47, for a total value of $12,094,000.00. Following the sale, the director now owns 238,987 shares in the company, valued at approximately $14,451,543.89. The trade was a 45.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, December 16th, William Hoffman sold 60,000 shares of Inari Medical stock. The shares were sold at an average price of $55.66, for a total value of $3,339,600.00.
• On Monday, November 18th, William Hoffman sold 60,000 shares of Inari Medical stock. The shares were sold at an average price of $51.16, for a total value of $3,069,600.00.
• On Tuesday, October 29th, William Hoffman sold 40,000 shares of Inari Medical stock. The stock was sold at an average price of $50.05, for a total value of $2,002,000.00.
• On Wednesday, October 16th, William Hoffman sold 40,000 shares of Inari Medical stock. The stock was sold at an average price of $45.02, for a total value of $1,800,800.00.

Inari Medical Stock Performance

Shares of Inari Medical stock opened at $79.29 on Friday. Inari Medical, Inc. has a one year low of $36.73 and a one year high of $79.69. The company has a market cap of $4.64 billion, a price-to-earnings ratio of -58.73 and a beta of 0.97. The business’s 50 day moving average price is $54.11 and its 200 day moving average price is $49.35.

Hedge Funds Weigh In On Inari Medical

A number of institutional investors have recently added to or reduced their stakes in NARI. Commonwealth Equity Services LLC purchased a new position in Inari Medical during the second quarter worth approximately $421,000. Arizona State Retirement System raised its position in Inari Medical by 2.5% in the second quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock valued at $703,000 after purchasing an additional 358 shares during the period. Quest Partners LLC raised its position in Inari Medical by 31,257.1% in the second quarter. Quest Partners LLC now owns 2,195 shares of the company’s stock valued at $106,000 after purchasing an additional 2,188 shares during the period. American Century Companies Inc. raised its position in Inari Medical by 26.8% in the second quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock valued at $47,231,000 after purchasing an additional 207,485 shares during the period. Finally, Sofinnova Investments Inc. raised its position in Inari Medical by 1,425.4% in the second quarter. Sofinnova Investments Inc. now owns 155,838 shares of the company’s stock valued at $7,504,000 after purchasing an additional 145,622 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

NARI has been the topic of a number of recent research reports. Stifel Nicolaus initiated coverage on Inari Medical in a research note on Tuesday, September 17th. They issued a “hold” rating and a $50.00 target price on the stock. Truist Financial upped their target price on Inari Medical from $50.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. William Blair restated a “market perform” rating on shares of Inari Medical in a research note on Tuesday. Robert W. Baird reiterated a “neutral” rating and set a $80.00 price target (down previously from $81.00) on shares of Inari Medical in a research report on Tuesday. Finally, BTIG Research reiterated a “neutral” rating on shares of Inari Medical in a research report on Wednesday. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Inari Medical presently has a consensus rating of “Hold” and an average target price of $68.00.

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.