Rafael Barkas, Senior Vice President of Global Operations & Supply Chain at Gentherm Inc (NASDAQ:THRM), has recently sold a portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Barkas sold 2,914 shares of Gentherm common stock on November 29, 2024. The shares were sold at a weighted average price of $42.15, generating a total sale value of $122,825.
The transactions were executed at prices ranging from $42.14 to $42.27, as noted in the filing's footnotes. Following this transaction, Barkas holds 17,611 shares of Gentherm stock. While this insider sale occurred, analyst targets range from $50 to $68, suggesting potential upside. InvestingPro subscribers can access detailed insider trading patterns and 7 additional key insights about Gentherm's financial health and market position.
In other recent news, Gentherm, a global leader in thermal management technologies, has reported impressive earnings for Q2 of 2024, and has appointed Jonathan Douyard as their new Chief Financial Officer. Douyard, who brings over 25 years of global finance experience, will take over from former CFO Matteo Anversa, and is expected to contribute to the company's growth and commitment to shareholder value. The company also secured $1.8 billion in new automotive business awards year-to-date, with a record $600 million in new business awards and a 46% revenue increase in its lumbar and massage solutions in Q3.
These recent developments include the launch of ClimateSense software on the Cadillac Escalade IQ and expanded offerings with OEMs like BMW (ETR:BMWG), Toyota (NYSE:TM), and Volkswagen (ETR:VOWG_p). In addition, Gentherm's Q3 achievements also include a 1.5% increase in product revenues year-over-year and a 10% revenue increase in the medical division, mainly from patient warming products. Looking ahead, Gentherm expects full-year 2024 revenue to be between $1.45 billion and $1.47 billion.
The company is also optimistic about the upcoming launch of ComfortScale with General Motors (NYSE:GM) in 2026 and expects new technology initiatives like ComfortScale and CompactVent to drive future growth. Despite facing some production declines, Gentherm maintains its focus on innovation and customer relationships, which are expected to yield positive results and continue its leadership in the thermal management industry.
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