Natera, Inc. (NASDAQ: ), a leader in personalized genetic testing and diagnostics, announced a series of transactions by Chief Financial Officer, Michael Burkes Brophy. In the most recent financial disclosure, Brophy sold $164,955 worth of company stock.
Over a two-day period, Brophy made several transactions selling shares of Natera stock. On July 22, 2024, he sold 1,059 shares at prices ranging from $104.90 to $105.16, amounting to $105.1596 per share. The next day, Brophy sold an additional 499 shares at an average price of $107.3979. These auctions are intended to satisfy tax obligations related to the issuance of restricted stock units (RSUs), as stated in the application footnote.
In addition to this sale, the CFO also received shares through RSUs on July 20, 21, and 22, with a total of 3,917 shares at a price of $0, as each RSU represents the contingent right to receive one share of Natera's. common stock. Following this transaction, Brophy's direct ownership in the company stands at 77,418 shares.
It is noteworthy that the sale was made in accordance with pre-established trading plans, which are intended to provide guaranteed protection against allegations of insider trading, in accordance with Rule 10b5-1(c) under the Exchange Act.
Investors often pay close attention to internal transactions as they can provide insight into management's views on their company's prospects. In Natera's case, the latest filing highlights work that is part of the company's stock-based compensation plan for executives and is customary in nature.
Natera, headquartered in Austin, Texas, continues to be at the forefront of the genetic testing industry, offering a wide range of services from prenatal testing to cancer diagnosis. The company's financial performance and strategic plans remain the main focus of investors and market analysts alike.
In other recent news, Natera, Inc. made several important announcements. The company reported an 18% sequential revenue increase and a 52% year-over-year increase in Q1 2024, leading to an upward revision to its annual revenue guidance. In a financial development, Natera announced that it will issue all of its outstanding 2.25% senior notes due 2027, consisting of an aggregate principal amount of $287.5 million, plus accrued and unpaid interest.
In terms of research and development, Natera has initiated the DECIPHER trial for a novel treatment targeting gastroesophageal adenocarcinoma, using its molecular residual disease test, Signatera. The company also plans to present Signatera's new findings at the 2024 American Society of Clinical Oncology Annual Meeting.
In analyst notes, Wolfe Research reaffirmed its Outperform rating with a firm price of $135, while Jefferies initiated coverage on Natera shares with a buy rating and a $142 price target. These latest developments highlight Natera's ongoing activities in the genetic testing and diagnostics market.
InvestingPro Insights
Natera's financial situation presents an interesting mix of details as the company navigates its growth path. In accordance with PRONEWS24, offering up to 10% off annual Pro and annual or bi-annual Pro+ subscriptions, Two notable InvestingPro tips highlight the company's recent performance. Investors may be interested to know that Natera has been trading at a high Price/Book multiple of 16.47, indicating the market's confidence in the company's asset value relative to its stock price. Additionally, despite not being profitable over the past twelve months, Natera has shown strong returns over the past three months with a total price return of 16.42%.
From a data point of view, Natera boasts a strong market capitalization of $13.07 billion, which shows the size and investor interest in the company. Revenue Growth over the last twelve months from Q1 2024 stood at an impressive 39.26%, indicating strong top-line expansion. In addition, the company's Gross Profit Margin during the same period was 50.28%, which shows the efficiency of its operation in making profit from its profit.
For readers interested in a deeper dive into Natera's financial and strategic vision, there are 10 additional InvestingPro tips available, which provide a comprehensive analysis of the company's market strength and financial health. This information can be accessed through the InvestingPro platform at
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