Inari Medical, Inc. (NASDAQ:NARI) CFO Sells $135,390.00 in Stock

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

Inari Medical Stock Performance

Shares of NARI stock traded up $0.57 during midday trading on Friday, hitting $46.52. 729,683 shares of the company were exchanged, compared to its average volume of 1,016,224. Inari Medical, Inc. has a 52 week low of $36.73 and a 52 week high of $69.40. The firm has a market capitalization of $2.71 billion, a P/E ratio of -113.12 and a beta of 1.00. The firm’s 50 day moving average price is $48.94 and its two-hundred day moving average price is $46.34.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on NARI shares. Wells Fargo & Company reduced their price target on Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Needham & Company LLC reissued a “hold” rating on shares of Inari Medical in a report on Wednesday, July 31st. William Blair started coverage on shares of Inari Medical in a report on Thursday, July 25th. They set an “outperform” rating on the stock. Truist Financial reiterated a “hold” rating and issued a $55.00 price target (down previously from $60.00) on shares of Inari Medical in a research note on Wednesday, July 31st. Finally, Piper Sandler restated a “neutral” rating and set a $50.00 price objective on shares of Inari Medical in a research note on Monday, August 26th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $59.50.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. increased its position in Inari Medical by 1.8% during the fourth quarter. D.A. Davidson & CO. now owns 10,570 shares of the company’s stock worth $686,000 after acquiring an additional 188 shares during the period. Bessemer Group Inc. grew its position in Inari Medical by 16.4% during the first quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock worth $117,000 after buying an additional 344 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Inari Medical by 7.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,852 shares of the company’s stock worth $234,000 after acquiring an additional 348 shares during the period. Arizona State Retirement System raised its holdings in Inari Medical by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 14,602 shares of the company’s stock valued at $703,000 after acquiring an additional 358 shares in the last quarter. Finally, Covestor Ltd raised its holdings in Inari Medical by 30.2% in the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after acquiring an additional 376 shares in the last quarter. 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.