BidaskClub Lowers Quintiles Transitional Holdings Inc. (NYSE:Q) to Buy
Quintiles Transitional Holdings Inc. (NYSE:Q) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.
Several other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Quintiles Transitional Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $81.00 target price (up previously from $78.00) on shares of Quintiles Transitional Holdings in a report on Friday, May 5th. Mizuho lifted their target price on shares of Quintiles Transitional Holdings from $90.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, May 4th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $96.00 target price (up previously from $87.00) on shares of Quintiles Transitional Holdings in a report on Wednesday, June 28th. Finally, Robert W. Baird raised shares of Quintiles Transitional Holdings from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $76.00 to $93.00 in a report on Friday, July 7th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $89.94.
Quintiles Transitional Holdings (NYSE Q) traded up 1.53% during midday trading on Friday, reaching $88.91. 1,006,508 shares of the company’s stock traded hands. The company has a market capitalization of $19.25 billion, a PE ratio of 257.71 and a beta of 0.64. Quintiles Transitional Holdings has a 1-year low of $70.10 and a 1-year high of $93.53. The firm’s 50 day moving average price is $90.01 and its 200-day moving average price is $83.51.
Quintiles Transitional Holdings (NYSE:Q) last posted its quarterly earnings data on Thursday, August 3rd. The medical research company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates 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 14.23%. Quintiles Transitional Holdings’s quarterly revenue was up 68.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 earnings per share. Equities analysts expect that Quintiles Transitional Holdings will post $4.58 EPS for the current year.
Quintiles Transitional Holdings announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 24th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the medical research company to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In other Quintiles Transitional Holdings news, major shareholder Cpp Investment Board Private H sold 7,131,165 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $84.01, for a total value of $599,089,171.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ari Bousbib sold 92,160 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $90.35, for a total transaction of $8,326,656.00. Following the completion of the sale, the insider now directly owns 1,082,919 shares in the company, valued at approximately $97,841,731.65. The disclosure for this sale can be found here. Insiders sold 8,870,560 shares of company stock worth $745,916,241 in the last ninety days. Insiders own 6.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in Q. Fiduciary Trust Co. purchased a new position in Quintiles Transitional Holdings during the second quarter worth $105,000. Korea Investment CORP raised its position in Quintiles Transitional Holdings by 142.5% in the second quarter. Korea Investment CORP now owns 1,370 shares of the medical research company’s stock worth $123,000 after buying an additional 805 shares in the last quarter. Global X Management Co. LLC raised its position in Quintiles Transitional Holdings by 30.8% in the first quarter. Global X Management Co. LLC now owns 1,469 shares of the medical research company’s stock worth $118,000 after buying an additional 346 shares in the last quarter. IFP Advisors Inc raised its position in Quintiles Transitional Holdings by 187.1% in the first quarter. IFP Advisors Inc now owns 1,774 shares of the medical research company’s stock worth $143,000 after buying an additional 1,156 shares in the last quarter. Finally, Citigroup Inc. raised its position in Quintiles Transitional Holdings by 15.5% in the second quarter. Citigroup Inc. now owns 1,858 shares of the medical research company’s stock worth $167,000 after buying an additional 250 shares in the last quarter. 91.83% of the stock is currently owned by 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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