Barclays PLC set a $100.00 price target on Quintiles Transitional Holdings Inc. (NYSE:Q) in a research report sent to investors on Friday, August 4th. The firm currently has a buy rating on the medical research company’s stock.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Quintiles Transitional Holdings from a hold rating to a buy rating and set a $101.00 price objective on the stock in a research note on Thursday, July 27th. Mizuho raised their price objective on shares of Quintiles Transitional Holdings from $90.00 to $93.00 and gave the stock a buy rating in a research note on Thursday, May 4th. Jefferies Group LLC raised their price objective on shares of Quintiles Transitional Holdings from $78.00 to $81.00 and gave the stock a hold rating in a research note on Monday, May 15th. Evercore ISI reaffirmed an in-line rating and set a $88.50 price objective (up previously from $84.00) on shares of Quintiles Transitional Holdings in a research note on Thursday, May 4th. Finally, Robert W. Baird raised shares of Quintiles Transitional Holdings from an underperform rating to a neutral rating and raised their price objective for the stock from $76.00 to $93.00 in a research note on Friday, July 7th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $89.94.
Quintiles Transitional Holdings (NYSE:Q) opened at 91.70 on Friday. The firm’s 50-day moving average is $90.14 and its 200 day moving average is $83.96. The stock has a market cap of $19.86 billion, a P/E ratio of 265.80 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 for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.04. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 68.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS. On average, analysts anticipate that Quintiles Transitional Holdings will post $4.58 EPS for the current fiscal year.
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Quintiles Transitional Holdings declared that its Board of Directors has authorized a share 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 reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other Quintiles Transitional Holdings news, Director John G. Danhakl sold 761,143 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $84.01, for a total value of $63,943,623.43. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Cpp Investment Board Private H sold 7,131,165 shares of the firm’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $84.01, for a total value of $599,089,171.65. The disclosure for this sale can be found here. Insiders sold a total of 8,864,468 shares of company stock worth $745,413,651 in the last 90 days. 6.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Quintiles Transitional Holdings by 4,217.1% in the first quarter. BlackRock Inc. now owns 7,098,723 shares of the medical research company’s stock valued at $571,660,000 after buying an additional 6,934,290 shares in the last quarter. Janus Henderson Group PLC raised its position in Quintiles Transitional Holdings by 33,092.0% in the second quarter. Janus Henderson Group PLC now owns 6,531,857 shares of the medical research company’s stock valued at $584,601,000 after buying an additional 6,512,178 shares in the last quarter. Glenview Capital Management LLC raised its position in Quintiles Transitional Holdings by 29.3% in the second quarter. Glenview Capital Management LLC now owns 8,921,356 shares of the medical research company’s stock valued at $798,461,000 after buying an additional 2,023,719 shares in the last quarter. Royal Bank of Canada raised its position in Quintiles Transitional Holdings by 103.8% in the second quarter. Royal Bank of Canada now owns 59,335 shares of the medical research company’s stock valued at $5,310,000 after buying an additional 1,601,888 shares in the last quarter. Finally, Discovery Capital Management LLC CT bought a new position in Quintiles Transitional Holdings during the second quarter valued at approximately $95,228,000. Institutional investors own 91.79% 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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