Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman Sells 60,000 Shares of Stock

Inari Medical, Inc. (NASDAQ:NARI) Director William Hoffman sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $55.66, for a total value of $3,339,600.00. Following the transaction, the director now directly owns 441,233 shares of the company’s stock, valued at approximately $24,559,028.78. This trade represents a 11.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 transaction of $3,069,600.00.
• 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 stock was sold at an average price of $45.02, for a total transaction of $1,800,800.00.

Inari Medical Price Performance

NARI opened at $55.03 on Thursday. The company’s 50 day moving average price is $49.30 and its two-hundred day moving average price is $48.04. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of -40.76 and a beta of 0.97. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $67.10.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its stake in Inari Medical by 83.5% during the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after buying an additional 435 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Inari Medical by 67.2% during the third 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 period. KBC Group NV raised its position in shares of Inari Medical by 39.0% during the third quarter. KBC Group NV now owns 1,774 shares of the company’s stock worth $73,000 after purchasing an additional 498 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Inari Medical by 39.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,847 shares of the company’s stock worth $89,000 after buying an additional 522 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Inari Medical during the 2nd quarter worth approximately $104,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NARI has been the topic of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Leerink Partners began coverage on shares of Inari Medical in a research report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 price objective for the company. Oppenheimer initiated coverage on Inari Medical in a report on Tuesday. They set an “outperform” rating and a $75.00 price target for the company. Truist Financial upped their price objective on Inari Medical from $50.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Leerink Partnrs raised shares of Inari Medical to a “hold” rating in a research report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Inari Medical presently has a consensus rating of “Moderate Buy” and an average price target of $61.80.

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.