Mekhail Adel, the Executive Vice President of Marketing & Sales at Prestige Consumer Healthcare Inc. (NYSE:PBH), recently sold 9,063 shares of the company’s common stock. The shares were sold at an average price of $82.00, amounting to a total transaction value of $743,166. Following this sale, Adel owns 18,365 shares directly.
In a related transaction, Adel acquired 5,565 shares through the exercise of employee stock options at a price of $44.33 per share, totaling $246,696. These shares were acquired prior to the sale, resulting in a net change in Adel's holdings.
Prestige Consumer Healthcare, known for its over-the-counter healthcare products, continues to see insider activity as executives manage their equity positions in the company.
In other recent news, Prestige Consumer Healthcare reported its Q2 results, indicating a slight dip in sales to $284 million. However, the company saw an increase in earnings per share to $1.09 and generated $68 million in free cash flow. Despite some supply chain issues impacting the Clear Eyes brand, international growth, particularly with the Hydralyte brand and Canadian portfolio, helped mitigate the overall sales decline.
The company also reduced its debt by $40 million, achieving a leverage ratio of 2.7x, with e-commerce now accounting for 15% of revenue. Looking ahead, Prestige provided guidance for fiscal year revenues between $1.125 billion and $1.140 billion and an adjusted EPS forecast of $4.40 to $4.46.
Additionally, Prestige is exploring opportunities for capital deployment, including share repurchases and potential mergers and acquisitions. The company's management expressed confidence in its brand strength and its focus on e-commerce expansion, particularly in North America. These are some of the recent developments within Prestige Consumer Healthcare.
InvestingPro Insights
Prestige Consumer Healthcare Inc. (NYSE:PBH) has been experiencing notable market performance, as reflected in recent insider transactions and key financial metrics. According to InvestingPro data, the company's market capitalization stands at $4.09 billion, with a price-to-earnings ratio of 19.9, indicating a moderate valuation relative to earnings.
The recent stock sale by Executive Vice President Mekhail Adel aligns with some interesting trends highlighted by InvestingPro Tips. For instance, PBH is currently trading near its 52-week high, with a strong return of 16.2% over the last month and 20.53% over the last three months. This positive momentum may have influenced the timing of the insider's decision to sell shares.
Despite the recent insider sale, InvestingPro Tips suggest that PBH has a high shareholder yield and liquid assets that exceed short-term obligations, indicating financial stability. However, it's worth noting that 5 analysts have revised their earnings downwards for the upcoming period, which investors may want to monitor closely.
For those seeking a deeper understanding of PBH's financial health and market position, InvestingPro offers 11 additional tips not mentioned here. These insights could provide valuable context for interpreting insider transactions and evaluating the company's prospects.
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