Quintiles Transitional Holdings Inc. (Q) Upgraded to Buy by Zacks Investment Research
Quintiles Transitional Holdings Inc. (NYSE:Q) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $89.00 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 11.51% from the company’s previous close.
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. “
Several other research analysts also recently weighed in on Q. Goldman Sachs Group Inc. raised Quintiles Transitional Holdings from a “not rated” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Wednesday, October 5th. Argus reaffirmed a “buy” rating and set a $85.00 target price (up from $75.00) on shares of Quintiles Transitional Holdings in a research note on Thursday, August 18th. Deutsche Bank AG upped their target price on Quintiles Transitional Holdings from $71.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. KeyCorp reiterated a “buy” rating on shares of Quintiles Transitional Holdings in a research report on Thursday, July 28th. Finally, Evercore ISI boosted their price target on Quintiles Transitional Holdings from $70.00 to $78.00 and gave the stock a “hold” rating in a research report on Wednesday, July 27th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $81.85.
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Shares of Quintiles Transitional Holdings (NYSE:Q) opened at 79.81 on Tuesday. Quintiles Transitional Holdings has a 12 month low of $55.01 and a 12 month high of $81.45. The company has a 50-day moving average price of $78.00 and a 200-day moving average price of $71.53. The company has a market capitalization of $9.46 billion, a P/E ratio of 24.00 and a beta of 0.58.
Quintiles Transitional Holdings (NYSE:Q) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.03. Quintiles Transitional Holdings had a negative return on equity of 189.34% and a net margin of 6.83%. The company earned $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the company posted $0.78 earnings per share. Quintiles Transitional Holdings’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts forecast that Quintiles Transitional Holdings will post $3.82 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc RI increased its position in Quintiles Transitional Holdings by 1.0% in the first quarter. Citizens Financial Group Inc RI now owns 1,978 shares of the company’s stock worth $129,000 after buying an additional 20 shares in the last quarter. Montag & Caldwell LLC increased its position in Quintiles Transitional Holdings by 0.5% in the second quarter. Montag & Caldwell LLC now owns 10,566 shares of the company’s stock worth $690,000 after buying an additional 50 shares in the last quarter. Lebenthal Holdings LLC increased its position in Quintiles Transitional Holdings by 0.3% in the second quarter. Lebenthal Holdings LLC now owns 33,135 shares of the company’s stock worth $2,164,000 after buying an additional 99 shares in the last quarter. Globeflex Capital L P increased its position in Quintiles Transitional Holdings by 0.9% in the second quarter. Globeflex Capital L P now owns 22,004 shares of the company’s stock worth $1,437,000 after buying an additional 193 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co increased its position in Quintiles Transitional Holdings by 5.3% in the second quarter. Meiji Yasuda Life Insurance Co now owns 3,990 shares of the company’s stock worth $261,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 92.78% of the company’s stock.
About Quintiles Transitional Holdings
Quintiles Transnational Holdings Inc is a provider of biopharmaceutical development services and commercial outsourcing services. The Company is engaged in the development and commercialization of pharmaceutical therapies. The Company’s segments include Product Development and Integrated Healthcare Services.
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