GoodRx inventory falls on CFO resignation information

Investing.com — Shares of GoodRx (NASDAQ:GDRX) tumbled 7% following the announcement that CFO Karsten Voermann is resigning this week for private causes.

The digital well being care firm revealed that Chief Accounting Officer Romin Nabiey, aged 38, will take over as interim CFO.

Voermann has been GoodRx’s CFO since 2020, and his departure comes on the heels of a current management change, with Wendy Barnes, previously the pinnacle of RxBenefits, taking up as CEO on January 1st.

Leerink analyst Michael Cherny commented on the surprising nature of Voermann’s departure, stating, “What we discover attention-grabbing is that previously, GoodRx has sometimes pre-announced 4Q ends in January, but there was no point out within the launch of 4Q outcomes nor any steerage commentary,” he writes.

“Possibly that can come later within the week.”

Regardless of the information, Cherny maintains an outperform score on GoodRx shares, arguing that they’re overly discounted when contemplating the corporate’s Ebitda and money movement era.

The timing of the CFO’s resignation is notable, because it precedes the same old pre-announcement of fourth-quarter outcomes, which has not occurred. This has led to some uncertainty amongst buyers, as the shortage of steerage or outcomes may very well be seen as a purple flag.

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