Karen Kaucic Sells 20,574 Shares of PPD (NASDAQ:PPD) Stock

PPD (NASDAQ:PPD) insider Karen Kaucic sold 20,574 shares of the company’s stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $34.80, for a total value of $715,975.20. Following the completion of the transaction, the insider now owns 8,392 shares of the company’s stock, valued at $292,041.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of PPD traded down $0.95 during mid-day trading on Thursday, reaching $36.04. 2,178,405 shares of the stock traded hands, compared to its average volume of 1,436,707. The firm has a market cap of $12.56 billion and a price-to-earnings ratio of 36.63. The stock has a fifty day simple moving average of $33.10 and a 200 day simple moving average of $27.14. PPD has a 12-month low of $10.61 and a 12-month high of $37.40.

PPD (NASDAQ:PPD) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $925.53 million. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 EPS. As a group, research analysts predict that PPD will post 0.18 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in shares of PPD by 4.0% during the second quarter. Russell Investments Group Ltd. now owns 23,914 shares of the company’s stock worth $640,000 after buying an additional 914 shares in the last quarter. Royal Bank of Canada acquired a new stake in shares of PPD during the first quarter worth approximately $30,000. Cubist Systematic Strategies LLC grew its position in shares of PPD by 6.0% during the second quarter. Cubist Systematic Strategies LLC now owns 35,602 shares of the company’s stock worth $954,000 after buying an additional 2,010 shares in the last quarter. Ensign Peak Advisors Inc acquired a new stake in shares of PPD during the second quarter worth approximately $79,000. Finally, TD Asset Management Inc. grew its position in shares of PPD by 4.2% during the second quarter. TD Asset Management Inc. now owns 124,947 shares of the company’s stock worth $3,349,000 after buying an additional 5,000 shares in the last quarter. Institutional investors own 65.00% of the company’s stock.

A number of analysts have issued reports on the company. Citigroup raised their price target on PPD from $31.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Morgan Stanley increased their price objective on shares of PPD from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Mizuho increased their price objective on shares of PPD from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. Robert W. Baird increased their price objective on shares of PPD from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, September 21st. Finally, KeyCorp increased their price objective on shares of PPD from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Tuesday, September 15th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. PPD currently 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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