In a recent transaction, Richard Binstein, the Executive Vice President, General Counsel, and Secretary of U.S. Physical Therapy Inc. (NYSE:USPH), sold 2,000 shares of the company's common stock. The sale, which took place on March 13, 2024, amounted to over $213,100, with the shares being sold at a weighted average price of $106.55 each. The transaction prices ranged from $106.55 to $106.71 per share.
Following the sale, Binstein's direct ownership in the company stands at 15,006 shares, which includes 14,134 shares granted as restricted stock under the company's Amended and Restated 2003 Stock Incentive Plan. The restrictions on these shares are set to lapse on various dates through January 1, 2028, contingent upon Binstein's continued employment with U.S. Physical Therapy Inc.
Investors often monitor insider transactions as they can provide insights into the company's performance and insider perspectives on the stock's value. The sale by a high-ranking executive like Binstein could be of particular interest to current and potential shareholders.
U.S. Physical Therapy Inc., headquartered in Houston, Texas, operates clinics that offer physical and occupational therapy services. The company has a strong presence across the country, with numerous outpatient physical therapy clinics.
The details of the transaction were made public through a Form 4 filing with the Securities and Exchange Commission, dated March 14, 2024.
InvestingPro Insights
As investors digest the news of the Executive Vice President's recent stock sale, U.S. Physical Therapy Inc. (NYSE:USPH) showcases a mix of financial metrics that could influence shareholder value. The company, which is currently trading at a high earnings multiple with a P/E ratio of 83.07, has demonstrated a commitment to shareholder returns, having raised its dividend for three consecutive years and maintained dividend payments for 14 consecutive years. This commitment is further substantiated by a dividend yield of 1.63% as of the latest data, with a notable dividend growth of 7.32% over the last twelve months.
Revenue growth also remains robust for USPH, with a 9.32% increase over the last twelve months, signaling a potentially positive trajectory for the company's financial performance. This growth is complemented by a solid gross profit margin of 20.3%, indicating efficient operations and cost management.
An InvestingPro Tip worth noting is that analysts predict the company will be profitable this year, which aligns with the company's recent performance showing a strong return over the last three months of 16.98%. Additionally, USPH has been able to exceed its short-term obligations with its liquid assets, which is a reassuring sign of financial stability.
For those interested in a deeper dive into USPH's financial health and future prospects, InvestingPro offers additional insights. There are 13 more InvestingPro Tips available at https://www.investing.com/pro/USPH, which could provide a more comprehensive understanding of the company's investment potential. To access these insights, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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