Inari Medical, Inc. (NASDAQ:NARI) CEO Andrew Hykes Sells 3,000 Shares

Inari Medical, Inc. (NASDAQ:NARI) CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the transaction, the chief executive officer now directly owns 445,310 shares in the company, valued at approximately $22,265,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Inari Medical Trading Up 2.8 %

NASDAQ NARI traded up $1.30 during trading on Thursday, reaching $48.40. 1,098,908 shares of the company’s stock were exchanged, compared to its average volume of 1,004,413. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $67.13. The company’s fifty day simple moving average is $43.50 and its 200-day simple moving average is $45.97. The firm has a market capitalization of $2.82 billion, a PE ratio of -36.48 and a beta of 1.00.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.25). Inari Medical had a negative return on equity of 7.51% and a negative net margin of 10.42%. The company had revenue of $145.82 million for the quarter, compared to analyst estimates of $143.96 million. Equities analysts forecast that Inari Medical, Inc. will post -0.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NARI. Leerink Partnrs upgraded Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Piper Sandler lifted their price target on shares of Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday. Wells Fargo & Company reduced their price objective on Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. William Blair began coverage on Inari Medical in a report on Thursday, July 25th. They issued an “outperform” rating on the stock. Finally, Robert W. Baird upped their target price on Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $58.89.

Institutional Investors Weigh In On Inari Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NARI. Vanguard Group Inc. increased its stake in shares of Inari Medical by 11.1% in the first quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock worth $268,681,000 after acquiring an additional 561,562 shares during the last quarter. Point72 Asset Management L.P. increased its position in Inari Medical by 113.3% in the 2nd 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 during the last quarter. Armistice Capital LLC raised its stake 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 purchasing an additional 786,501 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Inari Medical by 26.8% during the 2nd quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock valued at $47,231,000 after buying an additional 207,485 shares during the last quarter. Finally, Bamco Inc. NY grew its stake in shares of Inari Medical by 27.4% in the 1st quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock valued at $37,288,000 after buying an additional 167,000 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

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.