Herbalife Ltd. (NYSE: HLF) COO, Richard Goudis bought 45,516 shares of HLF common stock for $43.89 per share. Goudis made a total investment of $1.997 million, according to a regulatory filing.
HLF shares rose sharply in trading today. The stock hit an intra-day high of $46.40 before finishing the day 1.93% higher at $45.97 on above average volume of 3.24 million. Year-to-date, HLF shares have fallen 11.03%, underperforming the S&P 500.
Herbalife is a global network marketing company engaged in the sale of weight management, nutritional supplements, energy, sports and fitness products and personal care products.
HLF reported its third-quarter financial results late last month. For the third quarter of 2012, HLF reported net sales of $1 billion, representing an increase of 14% over the same period in the previous year. The increase in revenue was driven by a 17% increase in volume points compared to the prior year period.
HLF reported net income of $117.8 million, or $1.04 per share for the third quarter of 2012, compared to net income of $108 million, or $0.87 per share reported for the same period in the previous year.
Michael O. Johnson, Chairman and CEO of Herbalife, said last month that HLF’s business momentum has continued through the third quarter, with double digit volume growth from all six of its geographic regions. Johnson said that the company’s 2013 guidance for double-digit volume and earnings per share growth illustrates its belief in continued growth driven by ongoing global expansion of daily consumption and the company’s city by city approach to deepen its penetration in existing markets.
For fiscal 2013, the company expects net sales growth to be between 10% and 12% over 2012. Diluted earnings per share for fiscal 2013 are expected to be between $4.40 per share and $4.55 per share.