Zacks Investment Research Downgrades Quintiles Transitional Holdings Inc. (Q) to Hold
Quintiles Transitional Holdings Inc. (NYSE:Q) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Quintiles Transnational Holdings Inc. provides professional services, information and partnering solutions to the pharmaceutical services, biotechnology and healthcare industries. The Company has two segments: Product Development and Integrated Healthcare Services. It offers project management, clinical monitoring services, strategic planning and design services, consulting services contract sales, market entry/market exit, integrated channel management, patient engagement, market access and commercialization consulting, brand and scientific communication, and medical education services; outcome/observational services. The Company operates in Americas, Europe and Africa, and the Asia-Pacific. Quintiles Transnational Holdings Inc. is based in Durham, North Carolina. “
Q has been the subject of several other research reports. Barclays PLC set a $100.00 price objective on Quintiles Transitional Holdings and gave the company a “buy” rating in a report on Friday, August 4th. KeyCorp reiterated a “buy” rating and set a $100.00 price objective on shares of Quintiles Transitional Holdings in a report on Sunday, September 24th. Jefferies Group LLC reiterated a “hold” rating and set a $94.00 price objective on shares of Quintiles Transitional Holdings in a report on Friday, August 4th. Stifel Nicolaus reiterated a “hold” rating and set a $92.00 price objective (up previously from $87.00) on shares of Quintiles Transitional Holdings in a report on Friday, August 4th. Finally, William Blair upgraded Quintiles Transitional Holdings from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $70.10 to $93.42 in a report on Friday, August 4th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Quintiles Transitional Holdings has a consensus rating of “Buy” and a consensus price target of $93.61.
Quintiles Transitional Holdings (NYSE Q) traded up 1.42% during mid-day trading on Thursday, hitting $99.85. The company’s stock had a trading volume of 1,584,104 shares. The company has a market cap of $21.62 billion, a P/E ratio of 289.42 and a beta of 0.62. The firm’s 50-day moving average is $95.95 and its 200-day moving average is $88.87. Quintiles Transitional Holdings has a 12-month low of $70.10 and a 12-month high of $100.00.
Quintiles Transitional Holdings (NYSE:Q) last issued its quarterly earnings data on Thursday, August 3rd. The medical research company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.05 by $0.04. Quintiles Transitional Holdings had a return on equity of 14.23% and a net margin of 0.82%. The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the business posted $0.93 EPS. The business’s revenue for the quarter was up 68.7% compared to the same quarter last year. Analysts predict that Quintiles Transitional Holdings will post $4.58 EPS for the current fiscal year.
In other Quintiles Transitional Holdings news, insider Kevin C. Knightly sold 20,000 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $90.28, for a total transaction of $1,805,600.00. Following the sale, the insider now directly owns 46,826 shares of the company’s stock, valued at approximately $4,227,451.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ari Bousbib sold 46,080 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $94.91, for a total value of $4,373,452.80. Following the sale, the insider now directly owns 1,036,839 shares in the company, valued at $98,406,389.49. The disclosure for this sale can be found here. Insiders sold a total of 14,198,382 shares of company stock valued at $1,361,834,375 in the last 90 days. 6.40% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Fiduciary Trust Co. acquired a new stake in Quintiles Transitional Holdings during the 2nd quarter worth about $105,000. Global X Management Co. LLC grew its position in Quintiles Transitional Holdings by 30.8% during the 1st quarter. Global X Management Co. LLC now owns 1,469 shares of the medical research company’s stock worth $118,000 after purchasing an additional 346 shares during the period. GWM Advisors LLC acquired a new stake in Quintiles Transitional Holdings during the 2nd quarter worth about $122,000. Korea Investment CORP grew its position in Quintiles Transitional Holdings by 142.5% during the 2nd quarter. Korea Investment CORP now owns 1,370 shares of the medical research company’s stock worth $123,000 after purchasing an additional 805 shares during the period. Finally, Archford Capital Strategies LLC acquired a new stake in Quintiles Transitional Holdings during the 1st quarter worth about $160,000. 93.21% of the stock is currently 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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