Quintiles Transitional Holdings Inc. (Q) Updates Q3 Earnings Guidance
Quintiles Transitional Holdings Inc. (NYSE:Q) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.10-1.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.18. The company issued revenue guidance of $2.00-2.03 billion, compared to the consensus revenue estimate of $2.03 billion.Quintiles Transitional Holdings also updated its FY17 guidance to $4.50-4.65 EPS.
Several equities analysts have recently commented on the stock. Barclays PLC increased their price target on shares of Quintiles Transitional Holdings from $98.00 to $100.00 and gave the stock an overweight rating in a research report on Friday. Zacks Investment Research cut shares of Quintiles Transitional Holdings from a buy rating to a hold rating in a research report on Tuesday. 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. William Blair raised shares of Quintiles Transitional Holdings from a market perform rating to an outperform rating and raised their target price for the stock from $70.10 to $93.42 in a report on Friday. Finally, Evercore ISI reissued an in-line rating and issued a $88.50 target price (up previously from $84.00) on shares of Quintiles Transitional Holdings in a report on Thursday, May 4th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $89.41.
Shares of Quintiles Transitional Holdings Inc. (NYSE Q) traded down 0.75% during midday trading on Friday, hitting $90.42. 1,263,883 shares of the company’s stock traded hands. Quintiles Transitional Holdings Inc. has a 1-year low of $70.10 and a 1-year high of $93.53. The company has a 50 day moving average price of $89.50 and a 200 day moving average price of $82.85. The firm has a market capitalization of $19.90 billion, a price-to-earnings ratio of 200.04 and a beta of 0.64.
Quintiles Transitional Holdings (NYSE:Q) last released its quarterly earnings results on Thursday, August 3rd. The medical research company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.04. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.96 billion. Quintiles Transitional Holdings had a net margin of 0.82% and a return on equity of 15.68%. The company’s revenue for the quarter was up 68.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 earnings per share. Equities analysts anticipate that Quintiles Transitional Holdings Inc. will post $4.55 earnings per share for the current year.
Quintiles Transitional Holdings declared that its board has approved a share buyback plan on Wednesday, May 24th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical research company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically 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 business’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $84.01, for a total value of $599,089,171.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John G. Danhakl sold 761,143 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $84.01, for a total transaction of $63,943,623.43. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,758,400 shares of company stock worth $735,783,985. Company 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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