Mitch C. Hill Sells 6,000 Shares of Inari Medical, Inc. (NASDAQ:NARI) Stock

Inari Medical, Inc. (NASDAQ:NARI) CFO Mitch C. Hill sold 6,000 shares of Inari Medical stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $40.96, for a total transaction of $245,760.00. Following the sale, the chief financial officer now owns 181,294 shares of the company’s stock, valued at approximately $7,425,802.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Inari Medical Price Performance

NASDAQ:NARI opened at $38.64 on Friday. The company has a market cap of $2.24 billion, a P/E ratio of -1,288.00 and a beta of 0.84. Inari Medical, Inc. has a one year low of $37.92 and a one year high of $71.85. The firm’s fifty day moving average price is $47.29 and its two-hundred day moving average price is $55.52.

Inari Medical (NASDAQ:NARI) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Inari Medical had a positive return on equity of 1.23% and a negative net margin of 0.33%. The business had revenue of $132.10 million for the quarter, compared to analyst estimates of $131.82 million. During the same period last year, the firm posted ($0.11) EPS. Inari Medical’s quarterly revenue was up 22.5% on a year-over-year basis. As a group, equities research analysts expect that Inari Medical, Inc. will post -0.39 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NARI. BlackRock Inc. increased its position in Inari Medical by 13.0% during the 2nd quarter. BlackRock Inc. now owns 6,385,806 shares of the company’s stock worth $371,271,000 after purchasing an additional 733,738 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Inari Medical by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 5,038,292 shares of the company’s stock worth $327,086,000 after buying an additional 325,586 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Inari Medical by 46.8% in the 1st quarter. Wellington Management Group LLP now owns 4,626,607 shares of the company’s stock valued at $419,355,000 after acquiring an additional 1,475,313 shares during the last quarter. Capital International Investors boosted its holdings in shares of Inari Medical by 0.8% during the 1st quarter. Capital International Investors now owns 2,838,045 shares of the company’s stock valued at $257,240,000 after acquiring an additional 22,159 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Inari Medical by 12.0% during the 2nd quarter. Alliancebernstein L.P. now owns 2,305,171 shares of the company’s stock worth $134,023,000 after acquiring an additional 247,389 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

NARI has been the topic of a number of recent research reports. Piper Sandler lowered Inari Medical from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $55.00 in a research report on Thursday, February 29th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $75.00 price target on shares of Inari Medical in a research note on Friday, April 12th. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of Inari Medical in a research report on Wednesday, March 6th. Finally, Truist Financial reduced their target price on shares of Inari Medical from $61.00 to $52.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Inari Medical currently has an average rating of “Moderate Buy” and an average price target of $73.71.

Inari Medical Company Profile

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.