Quintiles Transitional Holdings Inc. (Q) Position Increased by Fisher Asset Management LLC
Fisher Asset Management LLC boosted its position in Quintiles Transitional Holdings Inc. (NYSE:Q) by 82.0% during the second quarter, Holdings Channel reports. The fund owned 208,885 shares of the medical research company’s stock after buying an additional 94,098 shares during the period. Fisher Asset Management LLC’s holdings in Quintiles Transitional Holdings were worth $18,695,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the company. Pensionfund DSM Netherlands purchased a new stake in shares of Quintiles Transitional Holdings during the first quarter worth about $3,100,000. Pensionfund Sabic bought a new position in Quintiles Transitional Holdings during the first quarter valued at $1,562,000. Beacon Financial Group bought a new position in Quintiles Transitional Holdings during the first quarter valued at $436,000. Macquarie Group Ltd. boosted its position in Quintiles Transitional Holdings by 41.3% in the fourth quarter. Macquarie Group Ltd. now owns 1,793,187 shares of the medical research company’s stock valued at $136,373,000 after buying an additional 524,559 shares during the period. Finally, Opus Point Partners Management LLC boosted its position in Quintiles Transitional Holdings by 25.2% in the fourth quarter. Opus Point Partners Management LLC now owns 3,418 shares of the medical research company’s stock valued at $260,000 after buying an additional 688 shares during the period. 92.49% of the stock is currently owned by hedge funds and other institutional investors.
Quintiles Transitional Holdings Inc. (NYSE:Q) opened at 90.08 on Tuesday. The company has a market cap of $19.82 billion, a PE ratio of 199.29 and a beta of 0.64. Quintiles Transitional Holdings Inc. has a one year low of $70.10 and a one year high of $91.81. The stock has a 50 day moving average of $86.48 and a 200 day moving average of $80.79.
Quintiles Transitional Holdings (NYSE:Q) last released its earnings results on Wednesday, May 3rd. The medical research company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.06. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.91 billion. Quintiles Transitional Holdings had a return on equity of 18.03% and a net margin of 1.06%. The company’s revenue for the quarter was up 72.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. On average, analysts anticipate that Quintiles Transitional Holdings Inc. will post $4.54 earnings per share for the current fiscal year.
Quintiles Transitional Holdings declared that its Board of Directors has approved a stock buyback plan on Wednesday, May 24th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the medical research company to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Several research analysts recently weighed in on the stock. Barclays PLC restated an “overweight” rating and issued a $98.00 price objective (up from $90.00) on shares of Quintiles Transitional Holdings in a research report on Monday. Robert W. Baird upgraded shares of Quintiles Transitional Holdings from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $76.00 to $93.00 in a research report on Friday, July 7th. Citigroup Inc. restated a “neutral” rating and issued a $96.00 price objective (up from $87.00) on shares of Quintiles Transitional Holdings in a research report on Wednesday, June 28th. Credit Suisse Group restated an “outperform” rating and issued a $96.00 price objective (up from $94.00) on shares of Quintiles Transitional Holdings in a research report on Tuesday, June 6th. Finally, Jefferies Group LLC upped their price objective on shares of Quintiles Transitional Holdings from $78.00 to $81.00 and gave the stock a “hold” rating in a research report on Monday, May 15th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company’s stock. Quintiles Transitional Holdings presently has a consensus rating of “Hold” and a consensus price target of $87.47.
In other news, Director John G. Danhakl sold 761,143 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $84.01, for a total transaction of $63,943,623.43. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jack M. Greenberg sold 6,092 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were 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 directly owns 2,930 shares in the company, valued at approximately $241,725. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,758,400 shares of company stock worth $735,783,985. Corporate insiders own 6.40% 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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