Investors Buy Shares of Quintiles Transitional Holdings Inc. (Q) on Weakness Following Insider Selling
Investors purchased shares of Quintiles Transitional Holdings Inc. (NYSE:Q) on weakness during trading hours on Monday following insider selling activity. $1,577.78 million flowed into the stock on the tick-up and $191.92 million flowed out of the stock on the tick-down, for a money net flow of $1,385.86 million into the stock. Of all stocks tracked, Quintiles Transitional Holdings had the highest net in-flow for the day. Quintiles Transitional Holdings traded down ($3.27) for the day and closed at $95.55Specifically, insider Kevin C. Knightly sold 20,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $90.28, for a total transaction of $1,805,600.00. Following the transaction, the insider now directly owns 46,826 shares in the company, valued at approximately $4,227,451.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kevin C. Knightly sold 19,339 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $99.51, for a total value of $1,924,423.89. Following the transaction, the insider now owns 40,650 shares in the company, valued at $4,045,081.50. The disclosure for this sale can be found here. Insiders have sold a total of 8,122,664 shares of company stock worth $683,394,452 over the last 90 days. Company insiders own 6.40% of the company’s stock.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Quintiles Transitional Holdings from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a report on Thursday, July 27th. BidaskClub upgraded Quintiles Transitional Holdings from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 19th. Citigroup Inc. increased their price target on Quintiles Transitional Holdings from $96.00 to $97.00 and gave the stock a “neutral” rating in a report on Monday, August 7th. William Blair upgraded Quintiles Transitional Holdings from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $70.10 to $93.42 in a report 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 report on Friday, August 4th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $90.25.
The company’s 50 day moving average price is $91.06 and its 200-day moving average price is $84.68. The company has a market capitalization of $20.69 billion, a price-to-earnings ratio of 276.96 and a beta of 0.64.
Quintiles Transitional Holdings (NYSE:Q) last posted its quarterly earnings data on Thursday, August 3rd. The medical research company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.04. The firm 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 14.23% and a net margin of 0.82%. The business’s quarterly revenue was up 68.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 EPS. On average, equities research analysts anticipate that Quintiles Transitional Holdings Inc. will post $4.58 earnings per share for the current fiscal year.
Quintiles Transitional Holdings announced that its board has authorized a share buyback program on Wednesday, May 24th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the medical research company to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds have recently bought and sold shares of the company. Capstone Asset Management Co. boosted its stake in Quintiles Transitional Holdings by 7.6% in the first quarter. Capstone Asset Management Co. now owns 9,226 shares of the medical research company’s stock worth $743,000 after buying an additional 650 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Quintiles Transitional Holdings during the first quarter worth $244,000. Candriam Luxembourg S.C.A. boosted its stake in Quintiles Transitional Holdings by 31.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 22,313 shares of the medical research company’s stock worth $1,797,000 after buying an additional 5,340 shares during the last quarter. ProShare Advisors LLC acquired a new stake in Quintiles Transitional Holdings during the first quarter worth $229,000. Finally, Shell Asset Management Co. boosted its stake in Quintiles Transitional Holdings by 1.0% in the first quarter. Shell Asset Management Co. now owns 8,769 shares of the medical research company’s stock worth $706,000 after buying an additional 83 shares during the last quarter. 91.36% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Quintiles Transitional Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quintiles Transitional Holdings Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.