Insider Selling: Quintiles Transitional Holdings Inc. (NYSE:Q) Insider Sells 92,160 Shares of Stock
Quintiles Transitional Holdings Inc. (NYSE:Q) insider Ari Bousbib sold 92,160 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $90.35, for a total value of $8,326,656.00. Following the sale, the insider now owns 1,082,919 shares of the company’s stock, valued at approximately $97,841,731.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Quintiles Transitional Holdings Inc. (NYSE Q) traded up 0.85% during trading on Monday, hitting $91.19. The stock had a trading volume of 1,055,896 shares. The stock’s 50 day moving average price is $89.50 and its 200-day moving average price is $82.85. Quintiles Transitional Holdings Inc. has a one year low of $70.10 and a one year high of $92.54. The stock has a market cap of $20.07 billion, a P/E ratio of 201.75 and a beta of 0.64.
Quintiles Transitional Holdings (NYSE:Q) last released its quarterly earnings data on Thursday, August 3rd. The medical research company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.04. The business had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Quintiles Transitional Holdings had a net margin of 0.82% and a return on equity of 15.68%. The company’s revenue for the quarter was up 68.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 EPS. Analysts expect that Quintiles Transitional Holdings Inc. will post $4.57 earnings per share for the current fiscal year.
Quintiles Transitional Holdings announced that its board has initiated a stock buyback program on Wednesday, May 24th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the medical research company to repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
A number of analysts have weighed in on Q shares. Zacks Investment Research lowered Quintiles Transitional Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Robert W. Baird upgraded Quintiles Transitional Holdings from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $76.00 to $93.00 in a report on Friday, July 7th. Jefferies Group LLC upped their target price on Quintiles Transitional Holdings from $78.00 to $81.00 and gave the stock a “hold” rating in a report on Monday, May 15th. Evercore ISI restated an “in-line” rating and set a $88.50 target price (up previously from $84.00) on shares of Quintiles Transitional Holdings in a report on Thursday, May 4th. Finally, Credit Suisse Group restated an “outperform” rating and set a $96.00 target price (up previously from $94.00) on shares of Quintiles Transitional Holdings in a report on Tuesday, June 6th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Quintiles Transitional Holdings has a consensus rating of “Hold” and a consensus price target of $89.94.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Quintiles Transitional Holdings by 0.9% in the first quarter. Vanguard Group Inc. now owns 12,508,830 shares of the medical research company’s stock valued at $1,007,336,000 after buying an additional 113,613 shares during the period. Longview Partners Guernsey LTD boosted its stake 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 period. Janus Capital Management LLC boosted its stake in Quintiles Transitional Holdings by 0.4% in the first quarter. Janus Capital Management LLC now owns 7,783,546 shares of the medical research company’s stock valued at $626,804,000 after buying an additional 27,675 shares during the period. BlackRock Inc. boosted its stake 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 period. Finally, State Street Corp boosted its stake in Quintiles Transitional Holdings by 2.6% in the first quarter. State Street Corp now owns 2,847,886 shares of the medical research company’s stock valued at $229,337,000 after buying an additional 71,563 shares during the period. 91.83% of the stock is owned by institutional investors and hedge funds.
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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