Jefferies rates PDI at hold

PDI, Inc. was rated at hold by Jefferies & Co., Inc. analyst David Windley. The company reported first-quarter earnings per share of $0.40, compared with Jefferies' $0.05 estimate, despite posting lower revenue sequentially. PDI's gross margin improved in both segments and restructuring efforts reduced overhead costs. Cash flow from operations of $5 million brought PDI's net cash to $7.24 per share. Shares of the Saddle River, N.J., pharmaceutical services company were up 34 cents, or 2.72%, at $12.82 on volume of 142,733 shares versus the three-month running average of 93,304 shares. (Nasdaq: PDII)

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