Quintiles Transitional Holdings Inc. (NYSE:Q) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm presently has a $101.00 price objective on the medical research company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.14% from the company’s previous close.
According to Zacks, “Quintiles Transnational Holdings Inc. provides professional services, information and partnering solutions to the pharmaceutical services, biotechnology and healthcare industries. The Company has two segments: Product Development and Integrated Healthcare Services. It offers project management, clinical monitoring services, strategic planning and design services, consulting services contract sales, market entry/market exit, integrated channel management, patient engagement, market access and commercialization consulting, brand and scientific communication, and medical education services; outcome/observational services. The Company operates in Americas, Europe and Africa, and the Asia-Pacific. Quintiles Transnational Holdings Inc. is based in Durham, North Carolina. “
Other equities research analysts have also issued reports about the company. Mizuho raised their target price on Quintiles Transitional Holdings from $90.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, May 4th. Jefferies Group LLC reaffirmed a “hold” rating and set a $78.00 target price on shares of Quintiles Transitional Holdings in a research report on Monday, April 3rd. Evercore ISI reaffirmed an “in-line” rating and set a $88.50 target price (up from $84.00) on shares of Quintiles Transitional Holdings in a research report on Thursday, May 4th. Robert W. Baird raised Quintiles Transitional Holdings from an “underperform” rating to a “neutral” rating and raised their target price for the company from $76.00 to $93.00 in a research report on Friday, July 7th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $96.00 target price (up from $87.00) on shares of Quintiles Transitional Holdings in a research report on Wednesday, June 28th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $88.22.
Shares of Quintiles Transitional Holdings (Q) opened at 91.70 on Thursday. Quintiles Transitional Holdings has a 12-month low of $70.10 and a 12-month high of $91.89. The stock has a 50 day moving average of $89.02 and a 200-day moving average of $82.41. The firm has a market capitalization of $20.18 billion, a P/E ratio of 202.88 and a beta of 0.64.
Quintiles Transitional Holdings (NYSE:Q) last announced its earnings results on Wednesday, May 3rd. The medical research company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. Quintiles Transitional Holdings had a return on equity of 18.03% and a net margin of 1.06%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the firm posted $0.89 EPS. The business’s revenue was up 72.5% compared to the same quarter last year. On average, equities research analysts predict that Quintiles Transitional Holdings will post $4.54 EPS for the current fiscal year.
Quintiles Transitional Holdings declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 24th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In other Quintiles Transitional Holdings news, major shareholder Cpp Investment Board Private H sold 7,131,165 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $84.01, for a total value of $599,089,171.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jack M. Greenberg sold 6,092 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $82.50, for a total value of $502,590.00. Following the completion of the transaction, the director now owns 2,930 shares of the company’s stock, valued at approximately $241,725. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,758,400 shares of company stock valued at $735,783,985. 6.40% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Longview Partners Guernsey LTD increased its position in shares of Quintiles Transitional Holdings by 6.2% in the second quarter. Longview Partners Guernsey LTD now owns 8,711,447 shares of the medical research company’s stock valued at $779,675,000 after buying an additional 505,526 shares in the last quarter. Strs Ohio increased its stake in shares of Quintiles Transitional Holdings by 126.0% in the second quarter. Strs Ohio now owns 19,422 shares of the medical research company’s stock worth $1,738,000 after buying an additional 10,828 shares during the period. Tower Bridge Advisors acquired a new stake in shares of Quintiles Transitional Holdings during the second quarter worth about $9,374,000. Shell Asset Management Co. increased its stake in shares of Quintiles Transitional Holdings by 67.0% in the second quarter. Shell Asset Management Co. now owns 14,648 shares of the medical research company’s stock worth $1,311,000 after buying an additional 5,879 shares during the period. Finally, Chase Investment Counsel Corp acquired a new stake in shares of Quintiles Transitional Holdings during the second quarter worth about $5,675,000. Institutional investors and hedge funds own 92.49% of the company’s stock.
Quintiles Transitional Holdings Company Profile
Quintiles IMS Holdings, Inc, formerly Quintiles Transnational Holdings Inc, provides integrated information and technology-enabled healthcare services. The Company operates through segments, including Commercial Solutions; Research & Development Solutions, and Integrated Engagement Services. The Commercial Solutions segment offerings include national information offerings, sub-national information offerings, technology solutions, and workflow analytics and consulting services.
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