Inari Medical, Inc. (NASDAQ:NARI) Director Sells $1,432,000.00 in Stock

Posted by Defense World Staff on Oct 21st, 2023

Inari Medical, Inc. (NASDAQ:NARI – Get Free Report) Director William Hoffman sold 25,000 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $57.28, for a total value of $1,432,000.00. Following the sale, the director now directly owns 992,001 shares of the company’s stock, valued at approximately $56,821,817.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

On Friday, September 15th, William Hoffman sold 25,000 shares of Inari Medical stock. The shares were sold at an average price of $66.74, for a total value of $1,668,500.00.

Inari Medical Stock Down 1.4 %

Shares of Inari Medical stock opened at $55.19 on Friday. The firm has a market cap of $3.17 billion, a P/E ratio of -183.97 and a beta of 0.98. The business has a 50-day moving average price of $64.70 and a 200 day moving average price of $62.77. Inari Medical, Inc. has a fifty-two week low of $52.59 and a fifty-two week high of $83.84.

Inari Medical (NASDAQ:NARI – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.14) by $0.18. Inari Medical had a negative return on equity of 3.80% and a negative net margin of 3.66%. The firm had revenue of $119.01 million for the quarter, compared to analysts’ expectations of $116.67 million. During the same period last year, the firm earned ($0.19) EPS. The firm’s revenue was up 28.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Inari Medical, Inc. will post 0.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Inari Medical from $105.00 to $100.00 in a research report on Thursday, August 3rd. Truist Financial dropped their price objective on Inari Medical from $70.00 to $65.00 and set a “hold” rating on the stock in a report on Wednesday, July 19th. Robert W. Baird assumed coverage on Inari Medical in a research note on Tuesday, July 18th. They set an “outperform” rating and a $79.00 price target on the stock. Piper Sandler decreased their price objective on Inari Medical from $92.00 to $90.00 in a research report on Thursday, August 3rd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $83.00 price target on shares of Inari Medical in a report on Thursday, August 3rd.

Read Our Latest Research Report on Inari Medical

Hedge Funds Weigh In On Inari Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust bought a new position in Inari Medical during the 1st quarter valued at $25,000. Quarry LP bought a new stake in shares of Inari Medical during the 2nd quarter worth $27,000. Pinebridge Investments L.P. bought a new stake in shares of Inari Medical during the 2nd quarter worth $31,000. Banque Cantonale Vaudoise bought a new stake in shares of Inari Medical during the 1st quarter worth $48,000. Finally, FMR LLC boosted its stake in shares of Inari Medical by 42.6% during the 2nd quarter. FMR LLC now owns 824 shares of the company’s stock worth $56,000 after acquiring an additional 246 shares in the last quarter. 87.75% of the stock is owned by institutional investors.

Inari Medical Company Profile

(Get Free Report)

Inari Medical, Inc builds minimally invasive, novel, and catheter-based mechanical thrombectomy systems for the specific disease states in the United States. The company provides ClotTriever, which is designed to core, capture, and remove large clots from large vessels for treatment of deep vein thrombosis and peripheral thrombus; and FlowTriever, 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.