PPD (NASDAQ:PPD) insider Ronald E. Garrow sold 9,500 shares of the company’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $34.12, for a total transaction of $324,140.00. Following the sale, the insider now directly owns 9,500 shares of the company’s stock, valued at approximately $324,140. The sale was disclosed in a filing with the SEC, which is available at this link.
NASDAQ:PPD opened at $32.95 on Friday. PPD has a 52 week low of $10.61 and a 52 week high of $35.70. The company has a fifty day simple moving average of $32.77 and a two-hundred day simple moving average of $26.98. The company has a market cap of $11.49 billion and a price-to-earnings ratio of 33.62.
PPD (NASDAQ:PPD) last released its earnings results on Tuesday, August 4th. The company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $925.53 million. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 earnings per share. As a group, research analysts expect that PPD will post 0.18 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the company. Carlyle Group Inc. purchased a new stake in PPD during the 1st quarter valued at approximately $1,183,563,000. Wellington Management Group LLP acquired a new stake in shares of PPD in the 1st quarter worth approximately $193,808,000. FPR Partners LLC acquired a new stake in shares of PPD in the 1st quarter worth approximately $138,734,000. Massachusetts Financial Services Co. MA acquired a new stake in PPD during the 1st quarter valued at $37,946,000. Finally, Invesco Ltd. acquired a new position in shares of PPD in the first quarter worth $24,632,000. 65.00% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on PPD. KeyCorp increased their price target on shares of PPD from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Tuesday, September 15th. Credit Suisse Group increased their price target on shares of PPD from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. BidaskClub raised shares of PPD from a “sell” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research cut shares of PPD from a “buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Morgan Stanley increased their price target on shares of PPD from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. PPD has a consensus rating of “Buy” and a consensus price target of $33.93.
PPD Company Profile
PPD, Inc provides drug development services to the biopharmaceutical industry worldwide. The company offers clinical development and laboratory services to the pharmaceutical, biotechnology, and medical device and government organizations, as well as other industry participants. It operates in two segments, Clinical Development Services and Laboratory Services.
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