PPD (NASDAQ:PPD) was downgraded by investment analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a note issued to investors on Monday, The Fly reports.
Other analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft cut shares of PPD from a “buy” rating to a “hold” rating and raised their target price for the stock from $39.00 to $47.00 in a report on Friday. Truist downgraded PPD from a “buy” rating to a “hold” rating in a report on Friday. Citigroup boosted their price objective on PPD from $40.00 to $42.00 in a report on Thursday, February 25th. Zacks Investment Research downgraded shares of PPD from a “buy” rating to a “hold” rating in a research note on Thursday, February 25th. Finally, Barclays started coverage on shares of PPD in a report on Monday, March 8th. They set an “overweight” rating and a $42.00 price target for the company. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. PPD presently has an average rating of “Hold” and an average price target of $40.00.
Shares of PPD stock opened at $46.27 on Monday. PPD has a 1 year low of $21.46 and a 1 year high of $46.46. The business’s fifty day moving average is $37.19 and its 200-day moving average is $35.71. The stock has a market cap of $16.21 billion and a PE ratio of 308.47.
PPD (NASDAQ:PPD) last released its earnings results on Wednesday, February 24th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. PPD had a negative return on equity of 11.06% and a net margin of 0.21%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company earned $0.33 earnings per share. PPD’s revenue was up 30.3% compared to the same quarter last year. As a group, sell-side analysts predict that PPD will post 1.09 EPS for the current year.
In related news, CEO David S. Simmons sold 100,000 shares of the business’s stock in a transaction dated Wednesday, April 14th. The stock was sold at an average price of $42.00, for a total transaction of $4,200,000.00. Following the completion of the transaction, the chief executive officer now owns 669,999 shares of the company’s stock, valued at approximately $28,139,958. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Simmons sold 77,065 shares of the firm’s stock in a transaction that occurred on Friday, February 12th. The shares were sold at an average price of $38.01, for a total value of $2,929,240.65. Following the completion of the sale, the chief executive officer now directly owns 669,999 shares in the company, valued at approximately $25,466,661.99. The disclosure for this sale can be found here. Insiders have sold 282,492 shares of company stock valued at $10,997,846 in the last ninety days.
Several institutional investors and hedge funds have recently bought and sold shares of the company. DnB Asset Management AS raised its stake in PPD by 2.7% during the 1st quarter. DnB Asset Management AS now owns 10,931 shares of the company’s stock valued at $414,000 after purchasing an additional 284 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of PPD by 14.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,910 shares of the company’s stock valued at $134,000 after buying an additional 501 shares during the period. Quantitative Systematic Strategies LLC grew its position in PPD by 3.0% during the fourth quarter. Quantitative Systematic Strategies LLC now owns 24,335 shares of the company’s stock worth $833,000 after buying an additional 714 shares in the last quarter. Strs Ohio bought a new position in PPD during the fourth quarter valued at about $47,000. Finally, Profund Advisors LLC raised its holdings in PPD by 13.1% in the 4th quarter. Profund Advisors LLC now owns 22,083 shares of the company’s stock valued at $756,000 after acquiring an additional 2,554 shares in the last quarter. 68.82% of the stock is owned by institutional investors.
PPD, Inc, together with its subsidiaries, provides drug development services to the biopharmaceutical industry worldwide. The company operates through two segments, Clinical Development Services and Laboratory Services. It offers clinical development services, including product development and consulting, early development, Phases II-IV clinical trial management, accelerated enrollment, peri-and post-approval, and medical communications services.
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