Endo International (ENDP) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Endo International (NASDAQ:ENDP) (TSE:ENL) from a buy rating to a hold rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “Endo’s first-quarter earnings and sales beat estimates. The company is looking to transform its business, with focus on Branded Pharmaceutical business in the United States. The company has divested its non-core assets and businesses, and repositioned its generics business in the United States by executing a comprehensive product portfolio and manufacturing footprint rationalization initiative. Endo is on track to launch approximately 15 products in 2019 across its Sterile Injectables, Generic Pharmaceuticals and International Pharmaceuticals segments. However, the generics business is expected to face competitive pressure, resulting in a slowdown in the performance. Moreover, response rates from the CCH trials did not impress the investors. Shares have underperformed the industry in the year so far.”

A number of other equities analysts have also recently commented on the company. Leerink Swann cut Endo International from an outperform rating to a market perform rating in a report on Tuesday, March 5th. ValuEngine cut Endo International from a hold rating to a sell rating in a report on Wednesday, March 6th. BidaskClub cut Endo International from a buy rating to a hold rating in a report on Wednesday, March 27th. SunTrust Banks initiated coverage on Endo International in a report on Tuesday, March 19th. They issued a buy rating and a $13.00 target price for the company. Finally, Svb Leerink cut Endo International from an outperform rating to a market perform rating in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $14.88.

Shares of Endo International stock traded down $0.08 during trading on Wednesday, reaching $6.52. 2,710,859 shares of the company’s stock were exchanged, compared to its average volume of 3,359,877. Endo International has a 1-year low of $5.92 and a 1-year high of $18.50. The stock has a market capitalization of $1.47 billion, a P/E ratio of 2.37 and a beta of 1.12.

Endo International (NASDAQ:ENDP) (TSE:ENL) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.11. Endo International had a negative return on equity of 199.18% and a negative net margin of 18.35%. The company had revenue of $720.00 million during the quarter, compared to analysts’ expectations of $692.31 million. During the same quarter in the previous year, the firm earned $0.67 EPS. Endo International’s revenue was up 2.9% on a year-over-year basis. As a group, research analysts anticipate that Endo International will post 2.18 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. LS Investment Advisors LLC acquired a new stake in shares of Endo International in the fourth quarter valued at about $59,000. Neuberger Berman Group LLC acquired a new stake in shares of Endo International in the third quarter valued at about $202,000. First Quadrant L P CA acquired a new stake in shares of Endo International in the fourth quarter valued at about $92,000. Signition LP acquired a new stake in shares of Endo International in the first quarter valued at about $139,000. Finally, Factorial Partners LLC acquired a new stake in shares of Endo International in the first quarter valued at about $193,000. 94.93% of the stock is owned by institutional investors.

About Endo International

Endo International plc, a specialty pharmaceutical company, manufactures and sells generic and branded pharmaceuticals in the United States, Canada, and internationally. The company operates through three segments: U.S. Generic Pharmaceuticals, U.S. Branded Pharmaceuticals, and International Pharmaceuticals.

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