Stryker shares tumble despite strong Q2 results and raised guidance
Carling Guy, the President of EMEA & OSP at Monster Beverage Corp (NASDAQ:MNST), recently executed a significant stock sale, according to a Form 4 filing with the Securities and Exchange Commission. On March 14, Guy sold 47,000 shares of Monster Beverage common stock at an average price of $55.02 per share, totaling approximately $2.59 million.
In addition to the sale, the filing detailed multiple acquisitions and disposals of Monster Beverage stock by Guy. On March 12, 13, and 14, he acquired shares through various transactions, including the exercise of restricted stock units and stock options, resulting in a total acquisition value of approximately $1.13 million, with prices ranging from $0 to $31.2 per share.
Furthermore, Guy disposed of additional shares to cover tax obligations, with these transactions totaling around $908,276, at prices between $54.34 and $55.09 per share.
Following these transactions, Guy’s direct ownership of Monster Beverage stock stands at 21,993 shares. These activities highlight Guy’s active management of his equity holdings in the company.
In other recent news, Monster Beverage Corporation reported fourth-quarter revenue of $1.81 billion, surpassing analyst expectations of $1.8 billion. Despite this revenue beat, the company’s adjusted earnings per share fell short of projections, coming in at $0.38 against an expected $0.40. Gross profit margin improved to 55.5%, aided by reduced input costs, although geographical sales mix partially offset these gains. The company also highlighted a strong international sales performance, with foreign exchange neutral growth of 20% year-over-year.
In other developments, Stifel analysts maintained a Buy rating on Monster Beverage with a $59 price target, noting the positive impact of international sales and gross margin improvements. Meanwhile, Piper Sandler kept a Neutral rating with a $51 target, mentioning manageable costs and increasing retail momentum. Additionally, Monster Beverage announced that Co-CEO Rodney Sacks will step down in June 2025, with Hilton Schlosberg set to become the sole CEO.
The company also issued a warning to shareholders regarding an unsolicited mini-tender offer from TRC Capital, urging them to reject it as the offer is below market value. Monster Beverage has advised shareholders to consult financial advisors and review the SEC’s guidance on such offers.
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