Quintiles Transitional Holdings Inc. (NYSE:Q)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Barclays PLC in a research note issued on Monday, July 17th. They currently have a $98.00 target price on the medical research company’s stock, up from their previous target price of $90.00. Barclays PLC’s price objective would suggest a potential upside of 8.38% from the company’s previous close.
Several other equities research analysts have also recently issued reports on the company. Robert W. Baird upgraded Quintiles Transitional Holdings from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $76.00 to $93.00 in a research note on Friday, July 7th. Citigroup Inc. restated a “neutral” rating and set a $96.00 target price (up from $87.00) on shares of Quintiles Transitional Holdings in a research note on Wednesday, June 28th. Credit Suisse Group restated an “outperform” rating and set a $96.00 target price (up from $94.00) on shares of Quintiles Transitional Holdings in a research note on Tuesday, June 6th. Jefferies Group LLC upped their target price on Quintiles Transitional Holdings from $78.00 to $81.00 and gave the stock a “hold” rating in a research note on Monday, May 15th. Finally, Evercore ISI restated an “in-line” rating and set a $88.50 target price (up from $84.00) on shares of Quintiles Transitional Holdings in a research note on Thursday, May 4th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Quintiles Transitional Holdings has an average rating of “Hold” and a consensus target price of $89.88.
Quintiles Transitional Holdings (NYSE:Q) opened at 90.42 on Monday. The stock has a 50 day moving average price of $89.50 and a 200-day moving average price of $82.85. The firm has a market capitalization of $19.90 billion, a PE ratio of 200.04 and a beta of 0.64. Quintiles Transitional Holdings has a one year low of $70.10 and a one year high of $93.53.
Quintiles Transitional Holdings (NYSE:Q) last issued its quarterly earnings results on Thursday, August 3rd. The medical research company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.04. The business 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 15.68% and a net margin of 0.82%. The firm’s revenue for the quarter was up 68.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 earnings per share. On average, equities analysts forecast that Quintiles Transitional Holdings will post $4.55 earnings per share for the current year.
Quintiles Transitional Holdings declared that its Board of Directors has initiated a stock repurchase program on Wednesday, May 24th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
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In related news, major shareholder Cpp Investment Board Private H sold 7,131,165 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $84.01, for a total value of $599,089,171.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack M. Greenberg sold 6,092 shares of the 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 completion of the sale, the director now owns 2,930 shares of the company’s stock, valued at $241,725. The disclosure for this sale can be found here. Insiders have sold 8,758,400 shares of company stock valued at $735,783,985 over the last quarter. Company insiders own 6.40% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Global X Management Co. LLC increased its stake 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 during the last quarter. Korea Investment CORP increased its stake 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 during the last quarter. IFP Advisors Inc increased its stake 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 during the last quarter. Archford Capital Strategies LLC bought a new stake in Quintiles Transitional Holdings during the first quarter worth $160,000. Finally, Bbva Compass Bancshares Inc. bought a new stake in Quintiles Transitional Holdings during the first quarter worth $170,000. Institutional investors and hedge funds own 92.47% of the company’s stock.
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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