Quintiles Transitional Holdings Inc. (Q) Coverage Initiated by Analysts at Royal Bank Of Canada
Equities research analysts at Royal Bank Of Canada started coverage on shares of Quintiles Transitional Holdings Inc. (NYSE:Q) in a research note issued on Tuesday. The brokerage set an “outperform” rating and a $116.00 price target on the medical research company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 22.02% from the company’s current price.
Other analysts have also recently issued reports about the stock. Argus increased their target price on shares of Quintiles Transitional Holdings from $98.00 to $104.00 and gave the stock a “buy” rating in a research note on Monday. BidaskClub upgraded shares of Quintiles Transitional Holdings from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 19th. Citigroup Inc. increased their target price on shares of Quintiles Transitional Holdings from $96.00 to $97.00 and gave the stock a “neutral” rating in a research note on Monday, August 7th. Stifel Nicolaus reiterated a “hold” rating and issued a $92.00 target price (up from $87.00) on shares of Quintiles Transitional Holdings in a research note on Friday, August 4th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $94.00 target price on shares of Quintiles Transitional Holdings in a research note on Friday, August 4th. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $92.44.
Shares of Quintiles Transitional Holdings (Q) opened at 95.07 on Tuesday. The firm’s 50-day moving average is $93.68 and its 200 day moving average is $86.73. The firm has a market capitalization of $20.59 billion, a P/E ratio of 275.57 and a beta of 0.63. Quintiles Transitional Holdings has a 12 month low of $70.10 and a 12 month high of $99.95.
Quintiles Transitional Holdings (NYSE:Q) last announced its quarterly earnings results on Thursday, August 3rd. The medical research company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.04. The company had revenue of $1.97 billion for 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 14.23%. Quintiles Transitional Holdings’s revenue was up 68.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.93 EPS. On average, equities research analysts anticipate that Quintiles Transitional Holdings will post $4.58 EPS for the current year.
Quintiles Transitional Holdings declared that its board has approved a stock buyback 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 reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.
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In other Quintiles Transitional Holdings news, insider Ari Bousbib sold 92,160 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kevin C. Knightly sold 19,339 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $99.51, for a total transaction of $1,924,423.89. Following the completion of the sale, the insider now directly owns 40,650 shares in the company, valued at approximately $4,045,081.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,363,847 shares of company stock worth $618,573,696. 6.40% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank grew its holdings in Quintiles Transitional Holdings by 12.7% in the 2nd quarter. Toronto Dominion Bank now owns 2,426 shares of the medical research company’s stock worth $218,000 after acquiring an additional 273 shares during the last quarter. Archford Capital Strategies LLC grew its holdings in Quintiles Transitional Holdings by 185.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 5,651 shares of the medical research company’s stock worth $904,000 after acquiring an additional 3,668 shares during the last quarter. Advisory Services Network LLC grew its holdings in Quintiles Transitional Holdings by 28.1% in the 2nd quarter. Advisory Services Network LLC now owns 5,497 shares of the medical research company’s stock worth $492,000 after acquiring an additional 1,207 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Quintiles Transitional Holdings in the 2nd quarter worth $331,000. Finally, WINTON GROUP Ltd bought a new stake in Quintiles Transitional Holdings in the 2nd quarter worth $643,000. 91.34% of the stock is currently owned by institutional investors and hedge funds.
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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