Quintiles Transitional Holdings Inc. (Q) PT Raised to $97.00
Quintiles Transitional Holdings Inc. (NYSE:Q) had its price target raised by equities research analysts at Citigroup Inc. from $96.00 to $97.00 in a research note issued on Monday. The brokerage currently has a “neutral” rating on the medical research company’s stock. Citigroup Inc.’s price target would indicate a potential upside of 6.37% from the stock’s previous close.
Other equities research analysts have also issued reports about the stock. Barclays PLC restated an “overweight” rating and set a $98.00 target price (up from $90.00) on shares of Quintiles Transitional Holdings in a research report on Monday, July 17th. Jefferies Group LLC restated a “hold” rating and set a $94.00 target price on shares of Quintiles Transitional Holdings in a research report on Friday. William Blair upgraded shares of Quintiles Transitional Holdings from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $70.10 to $93.42 in a research report on Friday. Stifel Nicolaus reaffirmed a “hold” rating and set a $92.00 price target on shares of Quintiles Transitional Holdings in a research note on Friday. Finally, Zacks Investment Research downgraded Quintiles Transitional Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Quintiles Transitional Holdings presently has a consensus rating of “Hold” and a consensus price target of $89.94.
Quintiles Transitional Holdings (NYSE:Q) traded up 0.85% during trading on Monday, reaching $91.19. 1,055,896 shares of the company’s stock were exchanged. Quintiles Transitional Holdings has a 52 week low of $70.10 and a 52 week high of $92.54. The firm has a market capitalization of $20.07 billion, a price-to-earnings ratio of 201.75 and a beta of 0.64. The stock has a 50-day moving average price of $89.50 and a 200 day moving average price of $82.85.
Quintiles Transitional Holdings (NYSE:Q) last issued its earnings results on Thursday, August 3rd. The medical research company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.05 by $0.04. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.96 billion. Quintiles Transitional Holdings had a net margin of 0.82% and a return on equity of 15.68%. The business’s revenue was up 68.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 EPS. Equities research analysts forecast 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 repurchase plan on Wednesday, May 24th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the medical research company to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
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In related news, Director Jack M. Greenberg sold 6,092 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $82.50, for a total value of $502,590.00. Following the completion of the transaction, the director now owns 2,930 shares of the company’s stock, valued at approximately $241,725. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John G. Danhakl sold 761,143 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $84.01, for a total transaction of $63,943,623.43. The disclosure for this sale can be found here. Insiders sold a total of 8,758,400 shares of company stock valued at $735,783,985 in the last three months. 6.40% of the stock is currently owned by corporate insiders.
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 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 last quarter. Longview Partners Guernsey LTD increased its position in shares of 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. Janus Capital Management LLC increased its position in shares of 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 last quarter. BlackRock Inc. increased 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 worth $571,660,000 after buying an additional 6,934,290 shares in the last quarter. Finally, State Street Corp increased its position 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 worth $229,337,000 after buying an additional 71,563 shares in the last quarter. 91.83% of the stock is owned by hedge funds and other institutional investors.
Quintiles Transitional Holdings Company Profile
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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