Quintiles Transitional Holdings Inc. (NYSE:Q)‘s stock had its “outperform” rating reiterated by stock analysts at Credit Suisse Group in a research report issued on Tuesday. They currently have a $125.00 price objective on the medical research company’s stock, up from their previous price objective of $115.00. Credit Suisse Group’s price objective indicates a potential upside of 15.63% from the company’s current price.
Other research analysts have also recently issued research reports about the company. Barclays PLC reissued an “overweight” rating and issued a $98.00 price objective (up previously from $90.00) on shares of Quintiles Transitional Holdings in a research report on Monday, July 17th. Stifel Nicolaus raised Quintiles Transitional Holdings from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $92.00 to $128.00 in a research report on Friday, October 27th. William Blair raised Quintiles Transitional Holdings from a “market perform” rating to an “outperform” rating and upped their price target for the company from $70.10 to $93.42 in a research report on Friday, August 4th. Jefferies Group LLC reaffirmed a “hold” rating and set a $94.00 price target on shares of Quintiles Transitional Holdings in a research report on Friday, August 4th. Finally, Citigroup Inc. upped their price target on Quintiles Transitional Holdings from $96.00 to $97.00 and gave the company a “neutral” rating in a research report on Monday, August 7th. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Quintiles Transitional Holdings presently has a consensus rating of “Buy” and an average price target of $101.64.
Quintiles Transitional Holdings (NYSE:Q) last posted its quarterly earnings data on Thursday, October 26th. The medical research company reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.05. Quintiles Transitional Holdings had a return on equity of 12.60% and a net margin of 0.58%. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The business’s revenue was up 77.6% on a year-over-year basis.
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In related news, major shareholder Cpp Investment Board Private H sold 6,748,026 shares of the business’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $94.87, for a total transaction of $640,185,226.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kevin C. Knightly sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $90.28, for a total value of $1,805,600.00. Following the sale, the insider now owns 46,826 shares in the company, valued at $4,227,451.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,208,382 shares of company stock worth $1,362,839,475. 6.40% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. Trillium Asset Management LLC raised its stake in shares of Quintiles Transitional Holdings by 222.5% during the 3rd quarter. Trillium Asset Management LLC now owns 95,396 shares of the medical research company’s stock valued at $9,069,000 after purchasing an additional 65,819 shares during the period. Parkwood LLC bought a new stake in shares of Quintiles Transitional Holdings during the 3rd quarter valued at $4,215,000. State of Tennessee Treasury Department bought a new stake in shares of Quintiles Transitional Holdings during the 3rd quarter valued at $5,834,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Quintiles Transitional Holdings by 16.5% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 21,677 shares of the medical research company’s stock worth $2,061,000 after acquiring an additional 3,076 shares during the last quarter. Finally, WASHINGTON TRUST Co bought a new position in Quintiles Transitional Holdings in the 3rd quarter worth about $9,874,000. Institutional investors own 93.03% of the company’s stock.
About Quintiles Transitional Holdings
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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