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Parexel CEO sells $2.4M in stock


Parexel CEO sells $2.4M in stock

Parexel CEO Josef Von Rickenbach unloaded 50,000 shares of stock last Friday. 

The stock was worth $2.485M, according to SEC documents . Von Rickenbach still owns about $30M in stock, according to news reports .

The sell-off comes as Parexel recently exceeded expectations with its second quarter results.

Analysts at Barclays raised their price target on Parexel shares from $48.00 to $52.00 in a research note from last week, while analysts at ISI Group upgraded shares of the company’s stock from a “buy” rating to a “strong-buy” rating in a research note to investors on Wednesday, January 22nd.

And analysts at Thomson Reuters/Verus downgraded shares of Parexel. One research analyst has rated the stock with a sell rating, seven have given it a hold rating, five have offered a buy rating and two have said the stock deserves a strong buy rating, according to reports. 

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