Inari medical director Hoffman sells shares worth more than $2.9m via Investing.com

Inari Medical, Inc. (NASDAQ:NARI) disclosed that Director William Hoffman sold a significant amount of the company's stock, totaling more than $2.9 million. The transaction, which took place on two separate days, the 16th and 19th of August, involved the sale of shares at various prices, reflecting the trading activity of the stock on those days.

On August 16, Hoffman sold 24,553 shares at an average price of $48.72, and the trading range was from $48.05 to $49.04. On the same day, an additional 15,447 shares were sold at an average price of $49.17, with trading ranges between $49.05 and $49.33.

A few days later, on August 19, Hoffman continued to split, selling another 20,000 shares at an estimated price of $50.30, with individual trading between $50.00 and $50.58.

After this sale, Hoffman still holds the largest position in the company, with 683,296 shares remaining in his ownership. It is worth noting that this sale was made according to a pre-arranged trading plan, known as the Rule 10b5-1 plan, which Hoffman had adopted on December 14, 2023.

Investors often keep a close eye on insider trading as they can provide information about a company's performance and management's opinions on stock valuations. Inari Medical, based in Irvine, California, operates in the field of medical instruments and equipment and is known for its innovative medical devices.

Transactions are reported to the SEC as required by company insiders, and detailed information about specific trades can be provided upon request.

In other recent news, Inari Medical reported a 23% increase in revenue year-over-year, to $143.2 million, primarily driven by the treatment of US core venous thromboembolism (VTE). Apart from this, the company reported a bigger than expected operating loss, which may worry investors. Inari Medical has also announced an unexpected change of Chief Financial Officer (CFO), which has been interpreted as an important step in succession planning.

Following this development, Truist Securities adjusted its price target for Inari Medical, lowering it to $55 from the previous $60, while maintaining a hold rating. Similarly, Needham downgraded Inari Medical stock from Buy to Hold, citing expected competition in the venous thrombectomy market. However, William Blair began covering the medical device company's stock with an Outperform rating, based on Inari's significant presence in major and emerging markets and the expectation of influential clinical data from ongoing trials.

These latest developments reflect both optimism and caution among analysts as they assess Inari Medical's strong performance against potential future challenges. The company also highlighted its three main avenues for growth: VTE treatment, Emerging Therapeutics, and international expansion, with plans to enter new markets such as China and Japan later this year.

InvestingPro Insights

As investors consider the implications of Director William Hoffman's recent sale of stock in Inari Medical, Inc. (NASDAQ:NARI), it's important to look at a company's financial health and market performance through the lens of InvestingPro's data and insights. With a market capitalization of 2.86 billion, Inari Medical is an important player in the medical instruments sector, but not without its challenges.

The company's gross profit margin stands at an impressive 87.15% for the last twelve months from Q2 2024, which shows strong performance in generating profit from its sales. However, it is also important to note that Inari Medical trades at a high Price/Book Multiple of 6.76, which may suggest that the stock is overvalued relative to its book value.

One of InvestingPro's tips highlights that Inari Medical operates with a limited level of debt, which is an important factor that investors should consider when assessing the company's financial stability. Additionally, investors should be aware that analysts have revised their earnings down in the future, and revenue is expected to decline this year. This can influence an insider's decision to sell shares.

For those interested in more details, InvestingPro offers additional tips on Inari Medical, which can be found at These tips provide in-depth analysis and can help investors make more informed decisions about their interest in the company.

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