Crispr Therapeutics shares tumble after significant earnings miss
Todd P. Kelsey, the President and CEO of Plexus Corp (NASDAQ:PLXS), recently sold shares of the company, according to a filing with the Securities and Exchange Commission. The transactions, executed on January 2, 2025, involved the sale of 1,500 shares of common stock. The shares were sold at prices ranging from $155.9979 to $157.17, generating a total value of $234,582. The sale comes as Plexus shares have shown remarkable strength, with a 49% price return over the past six months, according to InvestingPro data.
Following these transactions, Kelsey holds 74,271 shares of Plexus Corp. The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which Kelsey adopted on August 16, 2024. This plan allows company insiders to set up a trading schedule in advance, providing them with an opportunity to sell shares without concerns about insider trading violations. Trading at a P/E ratio of 38.5 and maintaining a GOOD financial health score, Plexus is preparing for its next earnings release on January 22. For deeper insights into Plexus's valuation and performance metrics, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Plexus Corp reported a 3% year-over-year increase in its fourth quarter revenue, surpassing its own guidance range. The company's adjusted earnings per share also exceeded expectations, thanks to stronger gross and operating margins, leading to a significant beat in non-GAAP EPS. Despite a projected 7% quarter-over-quarter decline in revenue for the first quarter of Fiscal Year 2025, Plexus provided a solid EPS forecast, supported by healthy margins. Plexus's strong free cash flow in the fourth quarter was highlighted as indicative of the company's robust cash generation capabilities.
Investment firm Needham increased its price target for Plexus to $162.00, maintaining its Buy rating on the stock. Meanwhile, KeyBanc initiated coverage on Plexus with a Sector Weight rating, recognizing the company's strong design capabilities and strategic market positioning. Benchmark, another financial advisory firm, maintained a Buy rating for Plexus and raised its price target to $150 from $145.
In other developments, Plexus has secured over $500 million in contracts in the healthcare life sciences sector over the past four quarters. Despite slower growth in the aerospace and defense sector due to supply constraints and customer design changes, the company anticipates a mid-single-digit revenue increase in the upcoming fiscal quarter.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.