HZNP Stock: CFO Retirement Plan Undoes Shares Despite Beat-And-Raise
Early Wednesday, Horizon Therapeutics (HZNP) reported adjusted income of $1.75 per share on $1.04 billion in third-quarter sales. In response, HZNP stock toppled.
X
On average, analysts polled by FactSet expected Horizon to earn $1.54 per share, minus some items, on $979 million in sales.
In the year-earlier period, Horizon earnings were $1.74 per share and the company reported $636.4 million in sales.
For the year, the biotech company raised its sales guidance to $3.16 billion to $3.21 billion. Analysts called for adjusted profit of $4.68 per share and $3.12 billion in sales.
Horizon also announced Chief Financial Officer Paul Hoelscher will retire on May 16. He will continue to advise the company through May 2023. Aaron Cox, executive vice president of finance, will succeed Hoelscher.
In premarket trading on the stock market today, HZNP stock tumbled 2.5% near 114.50.
More to follow.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
YOU MAY ALSO LIKE:
Moderna Dives As FDA Delays Covid Vaccine In Teens To Investigate ‘Rare’ Side Effect
Pfizer Stock Jumps On Expectations For $36 Billion In 2021 Covid Vaccine Sales
Short-Term Trades Can Add Up To Big Profits. IBD’s SwingTrader Shows You How
Looking For The Next Big Stock Market Winners? Start With These 3 Steps
Watch IBD’s Investing Strategies Show For Actionable Market Insights
Read More: HZNP Stock: CFO Retirement Plan Undoes Shares Despite Beat-And-Raise