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 Inari Medical stock in a transaction on 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 completion of the sale, the director now owns 238,987 shares in the company, valued at $14,451,543.89. This represents a 45.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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 shares were 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.

Inari Medical Stock Performance

NASDAQ:NARI opened at $79.29 on Friday. The stock has a 50-day simple moving average of $54.11 and a 200-day simple moving average of $49.35. The stock has a market cap of $4.64 billion, a P/E ratio of -58.73 and a beta of 0.97. Inari Medical, Inc. has a 1 year low of $36.73 and a 1 year high of $79.69.

Institutional Trading of Inari Medical

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Inari Medical by 67.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,177 shares of the company’s stock valued at $49,000 after purchasing an additional 473 shares during the last quarter. KBC Group NV lifted its holdings in shares of Inari Medical by 39.0% in the 3rd quarter. KBC Group NV now owns 1,774 shares of the company’s stock valued at $73,000 after purchasing an additional 498 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Inari Medical by 39.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock valued at $89,000 after purchasing an additional 522 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Inari Medical in the 2nd quarter valued at about $104,000. Finally, Quest Partners LLC lifted its holdings in shares of Inari Medical by 31,257.1% in the 2nd 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 last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NARI. Baird R W cut Inari Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Canaccord Genuity Group reissued a “hold” rating and set a $80.00 target price (up from $74.00) on shares of Inari Medical in a research note on Tuesday. Truist Financial boosted 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. Finally, Oppenheimer initiated coverage on Inari Medical in a research note on Tuesday, December 17th. They set an “outperform” rating and a $75.00 target price for the company. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $68.00.

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.