Insider Selling: Greatbatch Director Unloads 10,781 Shares of Stock (GB)
Greatbatch (NYSE:GB) Director Bill R. Sanford sold 10,781 shares of the stock on the open market in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $45.28, for a total value of $488,163.68. Following the completion of the transaction, the director now directly owns 49,504 shares in the company, valued at approximately $2,241,541. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Greatbatch (NYSE:GB) traded up 0.77% during mid-day trading on Thursday, hitting $45.96. The stock had a trading volume of 142,747 shares. Greatbatch has a 52 week low of $33.24 and a 52 week high of $51.64. The stock’s 50-day moving average is $47.34 and its 200-day moving average is $46.78. The company has a market cap of $1.145 billion and a P/E ratio of 24.44.
Greatbatch (NYSE:GB) last announced its earnings results on Thursday, July 31st. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.01. The company had revenue of $172.10 million for the quarter, compared to the consensus estimate of $177.06 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, analysts predict that Greatbatch will post $2.33 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Greatbatch in a research note on Monday, August 25th. They now have a $48.00 price target on the stock. Analysts at KeyCorp reiterated a “buy” rating on shares of Greatbatch in a research note on Friday, June 13th. They now have a $58.00 price target on the stock, up previously from $55.00.
Greatbatch, Inc (NYSE:GB) is developer and manufacturer of components for implantable medical devices (IMDs) and Electrochem batteries.
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