Inari Medical, Inc. (NASDAQ:NARI) CEO Sells $150,000.00 in Stock

Inari Medical, Inc. (NASDAQ:NARI) CEO Andrew Hykes sold 3,000 shares of the firm’s stock in a transaction on 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 owns 445,310 shares in the company, valued at $22,265,500. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Inari Medical Stock Up 2.8 %

NASDAQ NARI traded up $1.30 during midday trading on Thursday, hitting $48.40. The company had a trading volume of 1,098,908 shares, compared to its average volume of 1,004,413. The firm has a fifty day simple moving average of $43.50 and a two-hundred day simple moving average of $45.97. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -36.48 and a beta of 1.00. Inari Medical, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $67.13.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Leerink Partners initiated coverage on Inari Medical in a report on Tuesday, September 3rd. They set a “market perform” rating and a $47.00 target price on the stock. Canaccord Genuity Group boosted their target price on Inari Medical from $71.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday. William Blair began coverage on Inari Medical in a research report on Thursday, July 25th. They set an “outperform” rating for the company. Truist Financial lifted their price target on shares of Inari Medical from $46.00 to $50.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, Wells Fargo & Company decreased their price objective on shares of Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $58.89.

Institutional Trading of Inari Medical

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in 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 purchasing an additional 561,562 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Inari Medical by 113.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,481,283 shares of the company’s stock worth $71,324,000 after acquiring an additional 786,691 shares during the period. Armistice Capital LLC boosted its position 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 valued at $48,595,000 after acquiring an additional 786,501 shares in the last quarter. American Century Companies Inc. raised its position in Inari Medical by 26.8% in the second quarter. American Century Companies Inc. now owns 980,917 shares of the company’s stock worth $47,231,000 after purchasing an additional 207,485 shares in the last quarter. Finally, Bamco Inc. NY lifted its stake in Inari Medical by 27.4% during the first quarter. Bamco Inc. NY now owns 777,152 shares of the company’s stock worth $37,288,000 after purchasing an additional 167,000 shares during the period. 90.98% of the stock is currently owned by institutional investors.

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.