Quintiles Transitional Holdings Inc. (Q) Now Covered by Analysts at Royal Bank Of Canada
Equities research analysts at Royal Bank Of Canada began coverage on shares of Quintiles Transitional Holdings Inc. (NYSE:Q) in a research note issued to investors on Tuesday. The firm set an “outperform” rating and a $116.00 price target on the medical research company’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 22.02% from the company’s previous close.
Several other research firms also recently commented on Q. BidaskClub upgraded shares of Quintiles Transitional Holdings from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 19th. Citigroup Inc. reiterated a “neutral” rating and set a $96.00 price objective (up from $87.00) on shares of Quintiles Transitional Holdings in a research note on Wednesday, June 28th. Robert W. Baird upgraded shares of Quintiles Transitional Holdings from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $76.00 to $93.00 in a research note on Friday, July 7th. Credit Suisse Group reiterated an “outperform” rating and set a $96.00 price objective (up from $94.00) on shares of Quintiles Transitional Holdings in a research note on Tuesday, June 6th. Finally, Argus lifted their price objective on shares of Quintiles Transitional Holdings from $98.00 to $104.00 and gave the stock a “buy” rating in a research note on Monday. Eleven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Quintiles Transitional Holdings presently has an average rating of “Buy” and a consensus price target of $92.44.
Shares of Quintiles Transitional Holdings (Q) opened at 95.07 on Tuesday. Quintiles Transitional Holdings has a 52 week low of $70.10 and a 52 week high of $99.95. The firm’s 50-day moving average is $93.68 and its 200-day moving average is $86.73. The stock has a market capitalization of $20.59 billion, a price-to-earnings ratio of 275.57 and a beta of 0.63.
Quintiles Transitional Holdings (NYSE:Q) last posted its quarterly earnings data on Thursday, August 3rd. The medical research company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ 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 the consensus estimate of $1.96 billion. During the same period in the previous year, the firm posted $0.93 earnings per share. The business’s revenue for the quarter was up 68.7% compared to the same quarter last year. Analysts forecast that Quintiles Transitional Holdings will post $4.58 earnings per share for the current fiscal year.
Quintiles Transitional Holdings declared that its board has initiated a share repurchase 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 repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.
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In other Quintiles Transitional Holdings news, insider Kevin C. Knightly sold 19,339 shares of Quintiles Transitional Holdings stock in a transaction on Friday, August 25th. The shares were sold at an average price of $99.51, for a total value of $1,924,423.89. Following the completion of the transaction, the insider now owns 40,650 shares of the company’s stock, valued at $4,045,081.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ari Bousbib sold 46,080 shares of Quintiles Transitional Holdings stock in a transaction on Friday, September 1st. The shares were sold at an average price of $95.65, for a total transaction of $4,407,552.00. Following the completion of the transaction, the insider now directly owns 1,036,839 shares of the company’s stock, valued at approximately $99,173,650.35. The disclosure for this sale can be found here. Insiders have sold 6,363,847 shares of company stock valued at $618,573,696 over the last 90 days. 6.40% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fiduciary Trust Co. purchased a new position in Quintiles Transitional Holdings in the second quarter valued at $105,000. Global X Management Co. LLC increased its holdings in Quintiles Transitional Holdings by 30.8% in the first quarter. Global X Management Co. LLC now owns 1,469 shares of the medical research company’s stock valued at $118,000 after buying an additional 346 shares in the last quarter. GWM Advisors LLC purchased a new position in Quintiles Transitional Holdings in the second quarter valued at $122,000. Korea Investment CORP increased its holdings in Quintiles Transitional Holdings by 142.5% in the second quarter. Korea Investment CORP now owns 1,370 shares of the medical research company’s stock valued at $123,000 after buying an additional 805 shares in the last quarter. Finally, Archford Capital Strategies LLC purchased a new position in Quintiles Transitional Holdings in the first quarter valued at $160,000. 91.34% of the stock is owned by institutional investors.
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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