PPD (NASDAQ:PPD) Updates FY 2021 After-Hours Earnings Guidance

PPD (NASDAQ:PPD) updated its FY 2021
After-Hours earnings guidance on Tuesday. The company provided earnings per share guidance of 1.37-1.45 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.39. The company issued revenue guidance of $5.145-5.304 billion, compared to the consensus revenue estimate of $5.06 billion.PPD also updated its Q1 2021
After-Hours guidance to 0.30-0.32 EPS.

A number of brokerages have weighed in on PPD. Zacks Investment Research upgraded shares of PPD from a hold rating to a buy rating and set a $39.00 target price for the company in a research report on Tuesday, November 17th. Deutsche Bank Aktiengesellschaft increased their target price on shares of PPD from $33.00 to $38.00 and gave the stock a buy rating in a research report on Thursday, October 29th. Seventeen investment analysts have rated the stock with a buy rating, The company presently has an average rating of Buy and an average price target of $35.06.

PPD stock traded down $0.25 during mid-day trading on Tuesday, hitting $36.33. 935,185 shares of the company traded hands, compared to its average volume of 864,005. PPD has a one year low of $10.61 and a one year high of $38.76. The stock has a market cap of $12.70 billion and a price-to-earnings ratio of 238.07. The stock has a fifty day moving average price of $35.68 and a 200-day moving average price of $34.61.

In other PPD news, CEO David S. Simmons sold 77,065 shares of PPD stock in a transaction that occurred on Friday, February 12th. The shares were sold at an average price of $38.01, for a total transaction of $2,929,240.65. Following the transaction, the chief executive officer now directly owns 669,999 shares of the company’s stock, valued at $25,466,661.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

About PPD

PPD, Inc provides drug development services to the biopharmaceutical industry worldwide. The company operates through Clinical Development Services and Laboratory Services segments. 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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