Cardiff Oncology shares plunge after Q2 earnings miss
HOUSTON—Rankin Devina A, Executive Vice President and Chief Financial Officer of Waste Management Inc. (NYSE:WM), sold 4,126 shares of the company’s common stock on March 5, according to a recent SEC filing. The transaction comes as the stock trades near its 52-week high of $235.81, with InvestingPro data showing the company’s market capitalization at $92.6 billion. The shares were sold at a price of $228.11 each, amounting to a total transaction value of $941,181. Following this transaction, Rankin holds 62,639 shares in the company. The sale was conducted under a pre-arranged 10b5-1 trading plan. InvestingPro analysis indicates the stock trades at a P/E ratio of 33.7, suggesting a premium valuation. For deeper insights into insider transactions and comprehensive valuation metrics, investors can access the detailed Pro Research Report, available exclusively on InvestingPro.
In other recent news, Waste Management has reported a strong financial quarter, with revenue and EBITDA surpassing consensus expectations. Jefferies responded by raising its price target for the company to $257, maintaining a Buy rating, and highlighting the potential for margin expansion due to synergies with Stericycle (NASDAQ:SRCL). Stifel also maintained its Buy rating with a $252 target, following Waste Management’s robust fourth-quarter 2024 performance and optimistic fiscal year 2025 forecast. Erste Group upgraded Waste Management’s stock rating to Buy, citing significant growth prospects, including a projected 16% increase in revenue and a 15% rise in operating income for 2025.
Raymond (NSE:RYMD) James and Oppenheimer both reaffirmed their Outperform ratings, with a steady price target of $237, focusing on Waste Management’s sustainability investments and strategic initiatives. Waste Management’s sustainability projects are set to significantly contribute to EBITDA by 2027, with a cash flow conversion rate of 60-70%. The company is also seeing positive developments in landfill pricing, volume growth, and productivity enhancements. Additionally, Waste Management’s integration of its Healthcare Solutions segment is progressing well, offering further opportunities for operational advancements. These developments reflect Waste Management’s strategic focus on growth, sustainability, and financial performance.
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