Jennifer McDonough, the Executive Vice President, General Counsel, and Secretary of Nordson Corp (NASDAQ:NDSN), recently sold shares of the company worth approximately $68,055. The transactions took place on December 2, 2024, at a price of $260.75 per share. The $14.8 billion industrial equipment manufacturer, known for its precision dispensing systems, currently trades at a P/E ratio of 31.2, suggesting a premium valuation according to InvestingPro analysis.
In addition to the sales, McDonough also had shares withheld to cover taxes related to restricted share units vesting. On November 29, 2024, a total of 228 shares were withheld at a price of $260.99 per share, amounting to approximately $59,505. With a beta of 0.91 and strong financial health metrics, InvestingPro data shows Nordson maintains relatively low price volatility compared to the broader market. Discover 10+ additional exclusive insights and a comprehensive Pro Research Report available for Nordson on InvestingPro.
These transactions were part of a pre-planned trading strategy under a Rule 10b5-1 Trading Plan, which McDonough adopted in July 2024. Following these transactions, McDonough owns 2,635 shares of Nordson Corp, which currently appears slightly overvalued based on InvestingPro's Fair Value analysis.
In other recent news, Nordson Corporation has seen several noteworthy developments. Nordson's third-quarter earnings exceeded analysts' expectations, primarily driven by the Advanced Technology Systems and Industrial Precision Solutions segments, surpassing predictions by $0.02 per share. The company also issued $600 million in new debt securities with the intention to repay existing borrowings and for general corporate purposes.
Analysts at Loop Capital, DA Davidson, Baird, and KeyBanc have provided their insights on Nordson's performance. Loop Capital maintained a Hold rating on Nordson shares, while DA Davidson reiterated a Buy rating, expressing confidence in the company's long-term growth potential. Baird raised Nordson's price target due to strong margins and Advanced Technology Solutions revenue performance, and KeyBanc maintained its Sector Weight rating.
Nordson revised its full-year 2024 guidance to include a $30 million contribution from its recent acquisition of Atrion Corporation and increased its revenue guidance for fiscal year 2024 to a range of $2.665-$2.705 billion. The company also discussed the potential for larger mergers and acquisitions in the future. These are among the recent developments for Nordson Corporation.
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