Vaughan Nelson Investment Management L.P. lowered its position in Quintiles Transitional Holdings Inc. (NYSE:Q) by 29.9% during the second quarter, Holdings Channel reports. The fund owned 356,486 shares of the medical research company’s stock after selling 151,778 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Quintiles Transitional Holdings were worth $31,904,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in Q. Global X Management Co. LLC raised its stake in shares of 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 during the last quarter. IFP Advisors Inc raised its stake in shares of 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 valued at $143,000 after buying an additional 1,156 shares in the last quarter. Archford Capital Strategies LLC purchased a new stake in shares of Quintiles Transitional Holdings during the first quarter valued at about $160,000. Bbva Compass Bancshares Inc. purchased a new stake in shares of Quintiles Transitional Holdings during the first quarter valued at about $170,000. Finally, Toronto Dominion Bank raised its stake in shares of Quintiles Transitional Holdings by 18.7% in the first quarter. Toronto Dominion Bank now owns 2,153 shares of the medical research company’s stock valued at $173,000 after buying an additional 339 shares in the last quarter. 92.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Quintiles Transitional Holdings Inc. (Q) opened at 90.07 on Wednesday. The firm has a market cap of $19.82 billion, a price-to-earnings ratio of 199.27 and a beta of 0.64. Quintiles Transitional Holdings Inc. has a 52 week low of $70.10 and a 52 week high of $91.81. The company has a 50-day moving average price of $88.30 and a 200 day moving average price of $81.88.
Quintiles Transitional Holdings (NYSE:Q) last issued its earnings results on Wednesday, May 3rd. The medical research company reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.06. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.91 billion. Quintiles Transitional Holdings had a return on equity of 18.03% and a net margin of 1.06%. The company’s revenue was up 72.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 EPS. Analysts expect that Quintiles Transitional Holdings Inc. will post $4.54 EPS for the current fiscal year.
Quintiles Transitional Holdings declared that its Board of Directors has authorized a share repurchase program 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 reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
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Several brokerages have commented on Q. Barclays PLC reaffirmed an “overweight” rating and issued a $98.00 price target (up from $90.00) on shares of Quintiles Transitional Holdings in a research report on Monday. Citigroup Inc. reaffirmed a “neutral” rating and issued a $96.00 price target (up from $87.00) on shares of Quintiles Transitional Holdings in a research report on Wednesday, June 28th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $81.00 price target (up from $78.00) on shares of Quintiles Transitional Holdings in a research report on Friday, May 5th. Mizuho lifted their price target on Quintiles Transitional Holdings from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, May 4th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $96.00 price target (up from $94.00) on shares of Quintiles Transitional Holdings in a research report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $87.47.
In other Quintiles Transitional Holdings news, major shareholder Cpp Investment Board Private H sold 7,131,165 shares of Quintiles Transitional Holdings stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $84.01, for a total transaction of $599,089,171.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack M. Greenberg sold 6,092 shares of Quintiles Transitional Holdings 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 transaction, the director now owns 2,930 shares of the company’s stock, valued at approximately $241,725. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,758,400 shares of company stock worth $735,783,985. 6.40% of the stock is currently owned by company insiders.
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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