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

Zacks Investment Research downgraded shares of Endo International PLC (NASDAQ:ENDP) (TSE:ENL) from a hold rating to a sell rating in a report published on Thursday morning.

According to Zacks, “Endo withdrew opioid pain medication Opana ER (oxymorphone hydrochloride extended release) from the market following FDA’s request in June. The drug represented 4% of total 2016 revenues. Consequently, the company lowered its guidance. Headwinds in the form of declining generics base business and the legacy branded pain franchise remain a hangover. The generic business is under significant pressure due to intensifying consortium pricing pressures, and additional competitive entrants and product discontinuations as well as discrete factors, including destocking and shifts in purchase timing due to market conditions. Shares have significantly underperformed the industry in the last six months. Meanwhile, the company divested its non-core assets such as Belbuca and restructured its pain franchise to focus particularly on specialty branded business.”

Other equities research analysts have also recently issued reports about the stock. Mizuho reissued a buy rating and issued a $19.00 target price on shares of Endo International PLC in a research report on Thursday, August 10th. Deutsche Bank AG set a $13.00 target price on shares of Endo International PLC and gave the stock a buy rating in a research report on Wednesday, August 9th. ValuEngine raised shares of Endo International PLC from a hold rating to a buy rating in a research report on Monday, October 2nd. Morgan Stanley decreased their target price on shares of Endo International PLC from $12.00 to $8.00 and set an equal weight rating on the stock in a research report on Thursday, August 10th. Finally, Oppenheimer Holdings Inc. reissued a hold rating on shares of Endo International PLC in a research report on Sunday, July 23rd. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $12.64.

Endo International PLC (NASDAQ ENDP) traded up 0.085% during midday trading on Thursday, hitting $5.885. 18,594,734 shares of the stock were exchanged. The stock’s market cap is $1.31 billion. Endo International PLC has a 12-month low of $5.77 and a 12-month high of $20.59. The firm has a 50 day moving average of $8.31 and a 200-day moving average of $10.27.

Endo International PLC (NASDAQ:ENDP) (TSE:ENL) last released its 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 negative net margin of 126.93% and a positive return on equity of 37.58%. The business had revenue of $875.73 million for the quarter, compared to analysts’ expectations of $832.66 million. During the same period last year, the company earned $0.86 earnings per share. The company’s quarterly revenue was down 4.9% on a year-over-year basis. On average, equities analysts expect that Endo International PLC will post $3.52 earnings per share for the current year.

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In related news, CEO Paul Campanelli purchased 6,500 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average price of $7.71 per share, for a total transaction of $50,115.00. Following the completion of the purchase, the chief executive officer now owns 213,620 shares in the company, valued at $1,647,010.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Terrance J. Coughlin purchased 20,000 shares of the company’s stock in a transaction that occurred on 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 purchase, the chief operating officer now owns 181,369 shares of the company’s stock, valued at approximately $1,396,541.30. The disclosure for this purchase can be found here. Insiders have bought 36,000 shares of company stock worth $279,460 in the last quarter. Insiders own 0.50% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Teachers Advisors LLC increased its stake in shares of Endo International PLC by 1.9% in the second quarter. Teachers Advisors LLC now owns 840,470 shares of the company’s stock worth $9,388,000 after buying an additional 15,928 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Endo International PLC by 46.8% in the third quarter. Diamond Hill Capital Management Inc. now owns 716,670 shares of the company’s stock worth $6,138,000 after buying an additional 228,426 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Endo International PLC by 1.6% in the second quarter. TIAA CREF Investment Management LLC now owns 649,535 shares of the company’s stock worth $7,255,000 after buying an additional 10,387 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Endo International PLC by 4.9% in the second quarter. Ameriprise Financial Inc. now owns 581,552 shares of the company’s stock worth $6,497,000 after buying an additional 27,414 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Endo International PLC by 93.4% in the second quarter. Canada Pension Plan Investment Board now owns 565,240 shares of the company’s stock worth $6,314,000 after buying an additional 273,024 shares during the last quarter. Institutional investors and hedge funds own 90.29% 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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