Lincare execs unload
CLEARWATER, Fla. – Lincare’s management team sold nearly 1 million shares in late July, according to news reports.
CFO Paul Gabos sold 225,000 shares at an average price of $41.35 on July 20; Chairman and CEO John Byrnes sold 450,000 at $41.38 on July 23; and President and COO Shawn Schabel sold 300,000 at $41.40 on July 23.
That was enough activity to get Lincare’s Gabos listed as a “Top CFO Sells of the Week” by Forbes.
In July, Lincare reported net revenues of $496.2 million for the second quarter compared to $449 million for the same period last year, a 10.5% increase. It reported net income of $47.9 million vs. $42.8 million. It also reported net revenues of $997 million for the first half of this year compared to $880.6 million for the same period last year, a 13.2% increase. It reported net income of $94.3 million vs. $89.1 million.
In late June, Lincare announced that it would be acquired by The Linde Group for $4.6 billion or $41.50 per share. It expects the deal to close on or after Aug. 8.
For more HME News stories on Lincare and Linde: