Quintiles Transitional Holdings Inc. (Q) Reaches New 1-Year High at $94.07
Quintiles Transitional Holdings Inc. (NYSE:Q)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $94.07 and last traded at $94.17, with a volume of 470,779 shares traded. The stock had previously closed at $93.08.
Q has been the subject of a number of research analyst reports. Zacks Investment Research cut Quintiles Transitional Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Mizuho lifted their price target on Quintiles Transitional Holdings from $90.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, May 4th. Evercore ISI reiterated an “in-line” rating and set a $88.50 price target (up previously from $84.00) on shares of Quintiles Transitional Holdings in a report on Thursday, May 4th. Jefferies Group LLC reiterated a “hold” rating and set a $81.00 price target (up previously from $78.00) on shares of Quintiles Transitional Holdings in a report on Friday, May 5th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $96.00 price target (up previously from $94.00) on shares of Quintiles Transitional Holdings in a report on Tuesday, June 6th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $90.25.
The firm has a market capitalization of $20.38 billion, a P/E ratio of 272.78 and a beta of 0.64. The firm’s 50 day moving average price is $90.59 and its 200-day moving average price is $84.46.
Quintiles Transitional Holdings (NYSE:Q) last announced its 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. Quintiles Transitional Holdings had a net margin of 0.82% and a return on equity of 14.23%. The business had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the company earned $0.93 earnings per share. The firm’s revenue was up 68.7% on a year-over-year basis. Analysts predict that Quintiles Transitional Holdings Inc. will post $4.58 EPS for the current year.
Quintiles Transitional Holdings announced that its Board of Directors has approved a share buyback plan on Wednesday, May 24th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the medical research company to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
In other Quintiles Transitional Holdings news, insider Ari Bousbib sold 92,160 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $90.35, for a total value of $8,326,656.00. Following the completion of the transaction, the insider now directly owns 1,082,919 shares in the company, valued at $97,841,731.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John G. Danhakl sold 761,143 shares of the company’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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,864,468 shares of company stock valued at $745,413,651. 6.40% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank raised its position in Quintiles Transitional Holdings by 12.7% in the second quarter. Toronto Dominion Bank now owns 2,426 shares of the medical research company’s stock worth $218,000 after buying an additional 273 shares during the last quarter. Archford Capital Strategies LLC raised its position in Quintiles Transitional Holdings by 185.0% in the second quarter. Archford Capital Strategies LLC now owns 5,651 shares of the medical research company’s stock worth $904,000 after buying an additional 3,668 shares during the last quarter. Advisory Services Network LLC raised its position in Quintiles Transitional Holdings by 28.1% in the second quarter. Advisory Services Network LLC now owns 5,497 shares of the medical research company’s stock worth $492,000 after buying an additional 1,207 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Quintiles Transitional Holdings during the second quarter worth $331,000. Finally, WINTON GROUP Ltd purchased a new position in Quintiles Transitional Holdings during the second quarter worth $643,000. Institutional investors and hedge funds own 91.79% 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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