Insider Selling: Reuben Seltzer Unloads 11,250 Shares of Hi-Tech Pharmacal Co. Stock (HITK)
Hi-Tech Pharmacal Co. (NASDAQ:HITK) Chairman Reuben Seltzer sold 11,250 shares of the company’s stock on the open market in a transaction dated Thursday, October 10th. The stock was sold at an average price of $43.13, for a total transaction of $485,212.50. Following the completion of the transaction, the chairman now directly owns 521,510 shares of the company’s stock, valued at approximately $22,492,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Hi-Tech Pharmacal Co. (NASDAQ:HITK) traded down 0.09% during mid-day trading on Thursday, hitting $43.12. 99,258 shares of the company’s stock traded hands. Hi-Tech Pharmacal Co. has a 52-week low of $28.70 and a 52-week high of $44.33. The stock has a 50-day moving average of $42.41 and a 200-day moving average of $36.13. The company has a market cap of $587.1 million and a price-to-earnings ratio of 39.89.
Hi-Tech Pharmacal Co. (NASDAQ:HITK) last posted its quarterly earnings results on Monday, September 9th. The company reported $0.44 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.44. The company had revenue of $50.50 million for the quarter, compared to the consensus estimate of $57.78 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts expect that Hi-Tech Pharmacal Co. will post $2.29 EPS for the current fiscal year.
A number of research firms have recently commented on HITK. Analysts at Zacks downgraded shares of Hi-Tech Pharmacal Co. from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday. They now have a $41.10 price target on the stock. Finally, analysts at Thomson Reuters/Verus downgraded shares of Hi-Tech Pharmacal Co. from a “hold” rating to a “sell” rating in a research note to investors on Monday, September 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Hi-Tech Pharmacal Co. presently has an average rating of “Hold” and an average target price of $40.55.
Hi-Tech Pharmacal Co, Inc (NASDAQ:HITK), is a specialty manufacturer and marketer of prescription, over-the-counter (OTC) and nutritional products.
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