NGAM Advisors L.P. reduced its stake in Quintiles Transitional Holdings Inc. (NYSE:Q) by 1.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,011 shares of the medical research company’s stock after selling 1,760 shares during the period. NGAM Advisors L.P.’s holdings in Quintiles Transitional Holdings were worth $9,399,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Global X Management Co. LLC boosted 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 valued at $118,000 after buying an additional 346 shares during the last quarter. IFP Advisors Inc boosted 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 during the last quarter. Archford Capital Strategies LLC purchased a new stake in Quintiles Transitional Holdings during the first quarter worth approximately $160,000. Bbva Compass Bancshares Inc. purchased a new stake in Quintiles Transitional Holdings during the first quarter worth approximately $170,000. Finally, Toronto Dominion Bank boosted its stake in 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 worth $173,000 after buying an additional 339 shares during the last quarter. 92.47% of the stock is owned by hedge funds and other institutional investors.
Shares of Quintiles Transitional Holdings Inc. (NYSE:Q) opened at 91.62 on Thursday. Quintiles Transitional Holdings Inc. has a 1-year low of $70.10 and a 1-year high of $92.54. The stock has a 50 day moving average of $89.50 and a 200-day moving average of $82.85. The firm has a market cap of $20.16 billion, a price-to-earnings ratio of 202.70 and a beta of 0.64.
Quintiles Transitional Holdings (NYSE:Q) last announced its earnings results on Wednesday, May 3rd. The medical research company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Quintiles Transitional Holdings had a net margin of 1.06% and a return on equity of 18.03%. The company’s quarterly revenue was up 72.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 EPS. Equities analysts anticipate 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 initiated a stock repurchase plan on Wednesday, May 24th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
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A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Quintiles Transitional Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday. Barclays PLC reissued an “overweight” rating and set a $98.00 target price (up previously from $90.00) on shares of Quintiles Transitional Holdings in a research report on Monday, July 17th. Robert W. Baird raised shares of Quintiles Transitional Holdings from an “underperform” rating to a “neutral” rating and increased their target price for the company from $76.00 to $93.00 in a research report on Friday, July 7th. Citigroup Inc. reissued a “neutral” rating and set a $96.00 target price (up previously from $87.00) on shares of Quintiles Transitional Holdings in a research report on Wednesday, June 28th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $96.00 target price (up previously from $94.00) on shares of Quintiles Transitional Holdings in a research report on Tuesday, June 6th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $88.22.
In other news, Director Jack M. Greenberg sold 6,092 shares of Quintiles Transitional Holdings stock in a transaction on 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 directly 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 accessible through this hyperlink. Also, Director Dennis B. Ph D. Gillings sold 860,000 shares of Quintiles Transitional Holdings stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $84.01, for a total transaction of $72,248,600.00. Following the completion of the transaction, the director now directly owns 10,002,230 shares in the company, valued at $840,287,342.30. The disclosure for this sale can be found here. Insiders sold a total of 8,758,400 shares of company stock worth $735,783,985 over the last ninety days. Corporate insiders own 6.40% of the company’s stock.
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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