Insider Selling: Inari Medical, Inc. (NASDAQ:NARI) Director Sells $3,069,600.00 in Stock

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 60,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $51.16, for a total value of $3,069,600.00. Following the completion of the sale, the director now directly owns 501,233 shares of the company’s stock, valued at $25,643,080.28. The trade was a 10.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• 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 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 shares were sold at an average price of $45.83, for a total transaction of $1,833,200.00.

Inari Medical Price Performance

Shares of NARI stock opened at $49.66 on Friday. The business’s fifty day moving average price is $45.60 and its 200 day moving average price is $47.21. The firm has a market capitalization of $2.91 billion, a PE ratio of -36.78 and a beta of 0.96. Inari Medical, Inc. has a 1-year low of $36.73 and a 1-year high of $67.13.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NARI shares. Piper Sandler lifted their price objective on shares of Inari Medical from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research report on Tuesday, October 29th. Leerink Partnrs raised Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft began coverage on Inari Medical in a report on Friday, August 9th. They issued a “buy” rating and a $68.00 target price on the stock. Finally, Stifel Nicolaus began coverage on Inari Medical in a report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price target for the company. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Inari Medical presently has a consensus rating of “Hold” and an average target price of $58.89.

Institutional Investors Weigh In On Inari Medical

Several institutional investors have recently made changes to their positions in the stock. Barclays PLC lifted its stake in shares of Inari Medical by 9.7% in the third quarter. Barclays PLC now owns 288,079 shares of the company’s stock valued at $11,881,000 after purchasing an additional 25,365 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in Inari Medical by 316.7% in the third quarter. Y Intercept Hong Kong Ltd now owns 44,318 shares of the company’s stock valued at $1,828,000 after buying an additional 33,682 shares in the last quarter. Jane Street Group LLC increased its holdings in Inari Medical by 32.4% in the third quarter. Jane Street Group LLC now owns 95,223 shares of the company’s stock valued at $3,927,000 after buying an additional 23,286 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Inari Medical during the 3rd quarter valued at approximately $9,008,000. Finally, Bamco Inc. NY boosted its stake in shares of Inari Medical by 29.5% during the 3rd quarter. Bamco Inc. NY now owns 1,006,129 shares of the company’s stock worth $41,493,000 after acquiring an additional 228,977 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

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.