Mitch C. Hill Sells 3,000 Shares of Inari Medical, Inc. (NASDAQ:NARI) Stock

Inari Medical, Inc. (NASDAQ:NARI) CFO Mitch C. Hill sold 3,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $45.13, for a total transaction of $135,390.00. Following the sale, the chief financial officer now owns 179,600 shares in the company, valued at approximately $8,105,348. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Inari Medical Trading Up 1.2 %

NASDAQ:NARI traded up $0.57 during trading hours on Friday, hitting $46.52. 729,683 shares of the company were exchanged, compared to its average volume of 1,016,224. The company has a fifty day simple moving average of $48.94 and a 200 day simple moving average of $46.34. Inari Medical, Inc. has a one year low of $36.73 and a one year high of $69.40. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -113.12 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last released its earnings results on Tuesday, July 30th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.25). Inari Medical had a negative net margin of 10.42% and a negative return on equity of 7.51%. The firm had revenue of $145.82 million for the quarter, compared to analyst estimates of $143.96 million. Equities research analysts predict that Inari Medical, Inc. will post -0.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NARI has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research note on Wednesday, July 31st. Piper Sandler reissued a “neutral” rating and set a $50.00 target price on shares of Inari Medical in a research note on Monday, August 26th. Canaccord Genuity Group raised their price target on shares of Inari Medical from $55.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Inari Medical in a research report on Friday, August 9th. They set a “buy” rating and a $68.00 price objective for the company. Finally, Truist Financial restated a “hold” rating and issued a $55.00 target price (down previously from $60.00) on shares of Inari Medical in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. increased its holdings in Inari Medical by 113.3% in the second quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock worth $71,324,000 after purchasing an additional 786,691 shares in the last quarter. Armistice Capital LLC grew its position in shares of Inari Medical by 353.1% during the 2nd quarter. Armistice Capital LLC now owns 1,009,252 shares of the company’s stock worth $48,595,000 after buying an additional 786,501 shares during the period. Vanguard Group Inc. increased its stake in shares of Inari Medical by 11.1% in the 1st quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock valued at $268,681,000 after acquiring an additional 561,562 shares in the last quarter. Norges Bank bought a new stake in shares of Inari Medical in the 4th quarter valued at $29,491,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Inari Medical by 1,219.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 394,901 shares of the company’s stock valued at $19,014,000 after acquiring an additional 364,983 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

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.