Brokerages Expect Quintiles Transitional Holdings Inc. (Q) Will Post Quarterly Sales of $2.02 Billion
Analysts predict that Quintiles Transitional Holdings Inc. (NYSE:Q) will announce sales of $2.02 billion for the current quarter, according to Zacks. Nine analysts have made estimates for Quintiles Transitional Holdings’ earnings. The lowest sales estimate is $2.00 billion and the highest is $2.03 billion. Quintiles Transitional Holdings posted sales of $1.14 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 77.2%. The firm is expected to issue its next quarterly earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Quintiles Transitional Holdings will report full-year sales of $2.02 billion for the current financial year, with estimates ranging from $8.00 billion to $8.09 billion. For the next financial year, analysts anticipate that the company will post sales of $8.52 billion per share, with estimates ranging from $8.44 billion to $8.61 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Quintiles Transitional Holdings.
Quintiles Transitional Holdings (NYSE:Q) last posted its earnings results on Thursday, August 3rd. The medical research company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.04. The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Quintiles Transitional Holdings had a return on equity of 14.23% and a net margin of 0.82%. The firm’s revenue was up 68.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 earnings per share.
A number of brokerages have weighed in on Q. BidaskClub lowered Quintiles Transitional Holdings from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Jefferies Group LLC restated a “hold” rating and set a $94.00 price objective on shares of Quintiles Transitional Holdings in a research note on Friday, August 4th. William Blair upgraded Quintiles Transitional Holdings from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $70.10 to $93.42 in a research note on Friday, August 4th. Citigroup Inc. raised their price objective on Quintiles Transitional Holdings from $96.00 to $97.00 and gave the company a “neutral” rating in a research note on Monday, August 7th. Finally, Stifel Nicolaus restated a “hold” rating and set a $92.00 price objective (up previously from $87.00) on shares of Quintiles Transitional Holdings in a research note on Friday, August 4th. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $90.25.
In other Quintiles Transitional Holdings news, insider Ari Bousbib sold 92,160 shares of Quintiles Transitional Holdings stock in a transaction on Monday, August 7th. The stock was sold at an average price of $90.35, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dennis B. Ph D. Gillings sold 968,023 shares of Quintiles Transitional Holdings stock in a transaction on Monday, August 28th. The shares were sold at an average price of $97.33, for a total value of $94,217,678.59. Following the sale, the director now directly owns 9,071,839 shares in the company, valued at approximately $882,962,089.87. The disclosure for this sale can be found here. Insiders have sold a total of 6,363,847 shares of company stock worth $618,573,696 in the last ninety days. 6.40% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Fiduciary Trust Co. bought a new stake in Quintiles Transitional Holdings during the 2nd quarter valued at $105,000. Global X Management Co. LLC raised its stake in Quintiles Transitional Holdings by 30.8% during the 1st quarter. Global X Management Co. LLC now owns 1,469 shares of the medical research company’s stock valued at $118,000 after acquiring an additional 346 shares in the last quarter. GWM Advisors LLC bought a new stake in Quintiles Transitional Holdings during the 2nd quarter valued at $122,000. Korea Investment CORP raised its stake in Quintiles Transitional Holdings by 142.5% during the 2nd quarter. Korea Investment CORP now owns 1,370 shares of the medical research company’s stock valued at $123,000 after acquiring an additional 805 shares in the last quarter. Finally, Archford Capital Strategies LLC bought a new stake in Quintiles Transitional Holdings during the 1st quarter valued at $160,000. 91.36% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Quintiles Transitional Holdings (NYSE:Q) opened at 94.47 on Friday. The company’s 50-day moving average price is $93.55 and its 200 day moving average price is $86.47. The stock has a market cap of $20.46 billion, a PE ratio of 273.83 and a beta of 0.63. Quintiles Transitional Holdings has a 1-year low of $70.10 and a 1-year high of $99.95.
Quintiles Transitional Holdings announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 24th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical research company to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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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