Endo International PLC (ENDP) Upgraded by Zacks Investment Research to “Buy”
Endo International PLC (NASDAQ:ENDP) (TSE:ENL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $9.75 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 8.57% from the stock’s previous close.
According to Zacks, “Endo’s top line should continue to benefit from robust performance of Xiaflex and sterile injectables. Endo has centralized and streamlined its supply chain, quality and compliance organization in order to create a more cohesive and efficient structure. The company plans to close its Huntsville, Alabama manufacturing and distribution facilities over the next 12 to 18 months due to declining volumes of commoditized products that affected the Huntsville location. The company expects to transfer majority of the products to other sites while discontinuing approximately 15 products starting in the fourth quarter of 2017 and continuing through 2018. This restructuring is intended to better match manufacturing capacity to projected future demand. However, headwinds in the form of declining generics base business and the legacy branded pain franchise remain. Shares have significantly underperformed the industry so far in 2017.”
Several other research firms have also issued reports on ENDP. Goldman Sachs Group, Inc. (The) started coverage on Endo International PLC in a research report on Thursday, September 28th. They issued a “sell” rating and a $7.00 price target on the stock. Piper Jaffray Companies restated a “hold” rating and issued a $9.00 price target on shares of Endo International PLC in a research report on Sunday, September 17th. Mizuho restated a “buy” rating and issued a $14.00 price target (down from $19.00) on shares of Endo International PLC in a research report on Tuesday, September 12th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Endo International PLC in a research report on Tuesday, August 8th. Finally, Deutsche Bank AG reduced their price target on Endo International PLC from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, July 7th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. Endo International PLC currently has a consensus rating of “Hold” and an average price target of $12.64.
Shares of Endo International PLC (ENDP) traded up 4.42% during midday trading on Wednesday, hitting $8.98. The stock had a trading volume of 7,705,392 shares. The stock has a 50 day moving average price of $8.70 and a 200-day moving average price of $10.59. The stock’s market capitalization is $2.01 billion. Endo International PLC has a 52 week low of $7.41 and a 52 week high of $21.87.
Endo International PLC (NASDAQ:ENDP) (TSE:ENL) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.19. Endo International PLC had a positive return on equity of 37.58% and a negative net margin of 126.93%. The business had revenue of $875.73 million for the quarter, compared to analyst estimates of $832.66 million. During the same period last year, the company earned $0.86 EPS. The firm’s revenue was down 4.9% on a year-over-year basis. Equities research analysts anticipate that Endo International PLC will post $3.52 earnings per share for the current year.
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In related news, CFO Blaise Coleman acquired 6,500 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was bought at an average price of $7.89 per share, for a total transaction of $51,285.00. Following the acquisition, the chief financial officer now directly owns 13,729 shares of the company’s stock, valued at $108,321.81. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Terrance J. Coughlin acquired 20,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was bought at an average price of $7.70 per share, with a total value of $154,000.00. Following the acquisition, the chief operating officer now directly owns 181,369 shares in the company, valued at $1,396,541.30. The disclosure for this purchase can be found here. Insiders acquired a total of 36,000 shares of company stock worth $279,460 in the last three months. Company insiders own 0.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in ENDP. Karp Capital Management Corp bought a new position in shares of Endo International PLC in the 1st quarter valued at about $575,000. Ameriprise Financial Inc. grew its holdings in shares of Endo International PLC by 685.0% in the 1st quarter. Ameriprise Financial Inc. now owns 554,138 shares of the company’s stock valued at $6,185,000 after acquiring an additional 483,545 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Endo International PLC by 68.4% in the 1st quarter. Arizona State Retirement System now owns 82,500 shares of the company’s stock valued at $921,000 after acquiring an additional 33,500 shares in the last quarter. American International Group Inc. grew its holdings in shares of Endo International PLC by 451.5% in the 1st quarter. American International Group Inc. now owns 396,887 shares of the company’s stock valued at $4,429,000 after acquiring an additional 324,922 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. grew its holdings in shares of Endo International PLC by 86.9% in the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 84,000 shares of the company’s stock valued at $936,000 after acquiring an additional 39,060 shares in the last quarter. Institutional investors own 90.71% of the company’s stock.
Endo International PLC Company Profile
Endo International PLC, formerly Endo Health Solutions Inc is a specialty healthcare solutions company focused on branded and generic pharmaceuticals, devices and services. The Company has a portfolio of branded pharmaceuticals that includes brands, such as Lidoderm, Opana ER, Voltaren Gel, Percocet, Frova, Supprelin LA, Vantas, Valstar and Fortesta Gel.
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