Quintiles Transitional Holdings Inc. (Q) Given a $100.00 Price Target by Barclays PLC Analysts
Quintiles Transitional Holdings Inc. (NYSE:Q) has been assigned a $100.00 price objective by equities research analysts at Barclays PLC in a report issued on Friday. The brokerage presently has a “buy” rating on the medical research company’s stock. Barclays PLC’s price target suggests a potential upside of 10.60% from the company’s previous close.
Several other analysts have also issued reports on Q. Zacks Investment Research upgraded Quintiles Transitional Holdings from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a research note on Thursday, July 27th. Mizuho boosted their target price on Quintiles Transitional Holdings from $90.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, May 4th. Jefferies Group LLC boosted their target price on Quintiles Transitional Holdings from $78.00 to $81.00 and gave the company a “hold” rating in a research note on Monday, May 15th. Evercore ISI restated an “in-line” rating and issued a $88.50 target price (up from $84.00) on shares of Quintiles Transitional Holdings in a research note on Thursday, May 4th. Finally, Robert W. Baird upgraded Quintiles Transitional Holdings from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $76.00 to $93.00 in a research note on Friday, July 7th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $89.88.
Quintiles Transitional Holdings (NYSE Q) opened at 90.42 on Friday. The firm has a market capitalization of $19.90 billion, a price-to-earnings ratio of 200.04 and a beta of 0.64. Quintiles Transitional Holdings has a 12-month low of $70.10 and a 12-month high of $93.53. The company’s 50 day moving average price is $89.50 and its 200-day moving average price is $82.85.
Quintiles Transitional Holdings (NYSE:Q) last issued its quarterly earnings results on Thursday, August 3rd. The medical research company reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.04. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.96 billion. Quintiles Transitional Holdings had a return on equity of 15.68% and a net margin of 0.82%. Quintiles Transitional Holdings’s quarterly revenue was up 68.7% compared to the same quarter last year. During the same period last year, the company posted $0.93 earnings per share. On average, equities analysts anticipate that Quintiles Transitional Holdings will post $4.57 earnings per share for the current fiscal year.
Quintiles Transitional Holdings declared that its Board of Directors has authorized a stock buyback plan on Wednesday, May 24th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
In related news, Director Jack M. Greenberg sold 6,092 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $82.50, for a total transaction of $502,590.00. Following the completion of the transaction, the director now directly owns 2,930 shares in the company, valued at $241,725. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John G. Danhakl sold 761,143 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $84.01, for a total value of $63,943,623.43. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,758,400 shares of company stock valued at $735,783,985. 6.40% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Quintiles Transitional Holdings by 4,217.1% in the first quarter. BlackRock Inc. now owns 7,098,723 shares of the medical research company’s stock valued at $571,660,000 after buying an additional 6,934,290 shares during the last quarter. Longview Partners Guernsey LTD boosted its position in Quintiles Transitional Holdings by 6.2% in the second quarter. Longview Partners Guernsey LTD now owns 8,711,447 shares of the medical research company’s stock valued at $779,675,000 after buying an additional 505,526 shares during the last quarter. Johnston Asset Management LLC acquired a new position in Quintiles Transitional Holdings during the second quarter valued at approximately $35,123,000. Morningstar Investment Services LLC acquired a new position in Quintiles Transitional Holdings during the first quarter valued at approximately $24,539,000. Finally, AMF Pensionsforsakring AB acquired a new position in Quintiles Transitional Holdings during the first quarter valued at approximately $20,051,000. Institutional investors and hedge funds own 91.83% of the company’s stock.
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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