INC Research Holdings Inc. (INCR) Director Acquires $43,190.00 in Stock
INC Research Holdings Inc. (NASDAQ:INCR) Director David F. Burgstahler purchased 1,000 shares of the stock in a transaction dated Monday, September 19th. The shares were acquired at an average cost of $43.19 per share, for a total transaction of $43,190.00. Following the completion of the acquisition, the director now owns 36,065 shares of the company’s stock, valued at $1,557,647.35. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
INC Research Holdings Inc. (NASDAQ:INCR) opened at 43.16 on Wednesday. The stock has a 50 day moving average price of $44.28 and a 200 day moving average price of $43.24. INC Research Holdings Inc. has a 1-year low of $34.19 and a 1-year high of $57.11. The company has a market cap of $2.36 billion, a P/E ratio of 21.28 and a beta of 1.80.
INC Research Holdings (NASDAQ:INCR) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.03. INC Research Holdings had a return on equity of 46.76% and a net margin of 7.43%. The business had revenue of $258.80 million for the quarter, compared to the consensus estimate of $252.39 million. During the same period last year, the business posted $0.47 EPS. The business’s revenue was up 13.8% compared to the same quarter last year. On average, equities research analysts anticipate that INC Research Holdings Inc. will post $2.47 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of INC Research Holdings by 29.8% in the second quarter. Vanguard Group Inc. now owns 4,732,938 shares of the company’s stock worth $180,467,000 after buying an additional 1,087,652 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of INC Research Holdings by 2,867.5% in the second quarter. JPMorgan Chase & Co. now owns 2,360,478 shares of the company’s stock worth $90,005,000 after buying an additional 2,280,933 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of INC Research Holdings by 64.0% in the second quarter. BlackRock Fund Advisors now owns 1,690,162 shares of the company’s stock worth $64,446,000 after buying an additional 659,355 shares in the last quarter. TimesSquare Capital Management LLC increased its position in shares of INC Research Holdings by 23.0% in the first quarter. TimesSquare Capital Management LLC now owns 1,519,250 shares of the company’s stock worth $62,608,000 after buying an additional 284,300 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC increased its position in shares of INC Research Holdings by 25.7% in the second quarter. Silvercrest Asset Management Group LLC now owns 1,467,019 shares of the company’s stock worth $55,938,000 after buying an additional 299,588 shares in the last quarter. Institutional investors and hedge funds own 91.27% of the company’s stock.
INCR has been the topic of a number of research analyst reports. Zacks Investment Research raised INC Research Holdings from a “sell” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Tuesday, August 2nd. Jefferies Group reaffirmed a “buy” rating on shares of INC Research Holdings in a report on Friday, June 10th. Goldman Sachs Group Inc. upped their price target on INC Research Holdings from $60.00 to $62.00 and gave the company a “buy” rating in a report on Friday, August 12th. Finally, Credit Suisse Group AG started coverage on INC Research Holdings in a report on Monday, June 20th. They issued an “outperform” rating and a $51.00 target price on the stock. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.00.
About INC Research Holdings
INC Research Holdings, Inc is a global contract research organization (CRO). The Company is focused on Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. The Company operates through two segments: Clinical Development Services and Phase I Services.
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