PPD (NASDAQ:PPD) Lifted to “Hold” at Zacks Investment Research

PPD (NASDAQ:PPD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “PPD Inc. is a contract research organization providing comprehensive, integrated drug development, laboratory and lifecycle management services. It serves pharmaceutical, biotechnology, medical device, academic and government organizations. PPD Inc. is based in NC, United States. “

Separately, Deutsche Bank Aktiengesellschaft upgraded shares of PPD to a “buy” rating and set a $47.00 price target on the stock in a report on Tuesday, August 31st. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.60.

Shares of PPD opened at $46.85 on Friday. The stock has a market cap of $16.46 billion, a PE ratio of 65.07, a price-to-earnings-growth ratio of 2.32 and a beta of 2.22. PPD has a fifty-two week low of $31.54 and a fifty-two week high of $46.99. The firm’s 50-day simple moving average is $46.34 and its two-hundred day simple moving average is $44.55.

PPD (NASDAQ:PPD) last announced its quarterly earnings data on Wednesday, July 28th. The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.05. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.34 billion. PPD had a net margin of 3.85% and a negative return on equity of 53.95%. On average, sell-side analysts forecast that PPD will post 1.32 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Eaton Vance Management purchased a new position in PPD during the first quarter valued at $30,000. PNC Financial Services Group Inc. grew its stake in PPD by 77.0% during the second quarter. PNC Financial Services Group Inc. now owns 878 shares of the company’s stock valued at $40,000 after acquiring an additional 382 shares in the last quarter. FORA Capital LLC purchased a new position in PPD during the first quarter valued at $53,000. O Shaughnessy Asset Management LLC purchased a new position in PPD during the second quarter valued at $59,000. Finally, Maverick Capital Ltd. purchased a new position in PPD during the second quarter valued at $120,000. Hedge funds and other institutional investors own 87.87% of the company’s stock.

PPD Company Profile

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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