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 Inari Medical stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.00, for a total value of $150,000.00. Following the completion of the transaction, the chief executive officer now directly owns 445,310 shares in the company, valued at $22,265,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Inari Medical Trading Up 2.8 %

Inari Medical stock opened at $48.40 on Friday. The stock has a 50 day moving average of $43.50 and a 200-day moving average of $45.97. The stock has a market cap of $2.83 billion, a P/E ratio of -35.85 and a beta of 1.00. Inari Medical, Inc. has a 52 week low of $36.73 and a 52 week high of $67.13.

Inari Medical (NASDAQ:NARI) last announced its quarterly earnings data on Tuesday, July 30th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.25). The company had revenue of $145.82 million for the quarter, compared to analyst estimates of $143.96 million. Inari Medical had a negative return on equity of 10.09% and a negative net margin of 13.68%. As a group, equities analysts predict that Inari Medical, Inc. will post -0.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inari Medical

Hedge funds have recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in Inari Medical during the 1st quarter worth approximately $30,000. GAMMA Investing LLC lifted its stake in Inari Medical by 164.7% during the second quarter. GAMMA Investing LLC now owns 704 shares of the company’s stock worth $34,000 after purchasing an additional 438 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Inari Medical by 83.5% in the second quarter. Nisa Investment Advisors LLC now owns 956 shares of the company’s stock worth $46,000 after purchasing an additional 435 shares during the period. Covestor Ltd increased its stake in Inari Medical by 30.2% during the first quarter. Covestor Ltd now owns 1,619 shares of the company’s stock valued at $78,000 after purchasing an additional 376 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of 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 purchasing an additional 522 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. William Blair initiated coverage on shares of Inari Medical in a research report on Thursday, July 25th. They set an “outperform” rating on the stock. Robert W. Baird lifted their target price on shares of Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday. Wells Fargo & Company decreased their price target on shares of Inari Medical from $84.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Leerink Partners began coverage on Inari Medical in a research report on Tuesday, September 3rd. They issued a “market perform” rating and a $47.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Inari Medical in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $58.89.

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.