Thomas Tu, the Chief Medical (TASE:PMCN) Officer of Inari Medical, Inc. (NASDAQ:NARI), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Tu sold 4,000 shares of common stock on December 10, 2024, at a price of $55.00 per share, totaling $220,000. The stock, which currently trades at $56.35, has shown strong momentum with a 13% gain over the past week. According to InvestingPro analysis, the stock appears to be trading above its Fair Value.
The transaction was conducted under a Rule 10b5-1 trading plan, which Tu adopted on November 11, 2023. Following this sale, he retains ownership of 304,036 shares. Inari Medical, based in Irvine, California, specializes in surgical and medical instruments and apparatus. The company maintains impressive gross profit margins of 87% and has attracted positive analyst sentiment, with five analysts recently revising earnings estimates upward. Discover more insights about NARI and access detailed financial analysis through InvestingPro's comprehensive research reports.
In other recent news, Inari Medical Inc. reported record revenue of $153.4 million in Q3 of 2024, marking a 21% year-over-year increase. The company raised its full-year revenue outlook to between $601.5 million and $604.5 million, driven by a surge of 76.4% in international sales, particularly in Europe and Latin America. Despite a GAAP operating loss this quarter, Inari Medical anticipates operating profitability in the first half of 2025. Inari Medical has also received reimbursement approval for its ClotTriever product in Japan and established a new distribution partnership with Medikit Co., Ltd. These developments are part of the company's international expansion efforts. Canaccord Genuity maintained a Buy rating on Inari Medical, following the presentation of the PEERLESS trial results, which showed the superiority of Inari Medical's FlowTriever over catheter-directed thrombolytics for patients with intermediate-risk pulmonary embolism. Stifel also reiterated its Buy rating on Janux stock citing promising phase 1a JANX007 trial data.
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