LDR COO sells 19k shares in $512k transaction

Spinal Tech

LDR COO James Burrows sold 19,258 shares on the open market last Friday, according to a Mideast Times report, in a $512,070.22 transaction.

Mr. Burrows sold the shares at $26.59 per share. On Friday, the company traded up 4.24 percent, with the price hitting $27.07 per share and trading volume of 472,620 shares. Several analysts have recently weighed in on LDR, including:

 

•    Piper Jaffray analysts, raising their price from $38 to $40 per share and bestowing an "overweight" rating on the stock
•    RBC Capital initiating coverage on the shares in June, setting an "outperform" rating and target price of $34
•    Five research analysts rated the company as "buy"

 

The company's stock opened at $37.36 on Aug. 18 with a market cap of $352 million. In June, the company's CFO Robert McNamara sold 40,000 shares and Executive Vice President Patrick Richard sold 151,000 shares in June.

 

In its most recent financial report, LDR reported second quarter revenue up 30.7 percent to $34.8 million. The exclusive technology product revenue grew 20.9 percent to $30.4 million, with around 40 percent overall revenue growth occurring in the United States. The company's net loss reached $2.3 million, slightly lower than the same period last year.

 

The company increased revenue guidance for the full year between 20 percent and 21 percent, estimating LDR would reach $134 million to $135 million by the end of next year.

 

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