Quintiles Transitional Holdings Inc. (NYSE:Q) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Quintiles Transitional Holdings Inc. (NYSE:Q) from a hold rating to a buy rating in a report issued on Thursday morning. Zacks Investment Research currently has $101.00 target price on the medical research company’s stock.
According to Zacks, “Quintiles Transnational Holdings Inc. provides professional services, information and partnering solutions to the pharmaceutical services, biotechnology and healthcare industries. The Company has two segments: Product Development and Integrated Healthcare Services. It offers project management, clinical monitoring services, strategic planning and design services, consulting services contract sales, market entry/market exit, integrated channel management, patient engagement, market access and commercialization consulting, brand and scientific communication, and medical education services; outcome/observational services. The Company operates in Americas, Europe and Africa, and the Asia-Pacific. Quintiles Transnational Holdings Inc. is based in Durham, North Carolina. “
Other research analysts have also recently issued research reports about the stock. Barclays PLC restated an overweight rating and issued a $98.00 target price (up previously from $90.00) on shares of Quintiles Transitional Holdings in a research report on Monday, July 17th. Citigroup Inc. reiterated a neutral rating and issued a $96.00 price objective (up from $87.00) on shares of Quintiles Transitional Holdings in a report on Wednesday, June 28th. Jefferies Group LLC reiterated a hold rating and issued a $81.00 price objective (up from $78.00) on shares of Quintiles Transitional Holdings in a report on Friday, May 5th. Credit Suisse Group reiterated an outperform rating and issued a $96.00 price objective (up from $94.00) on shares of Quintiles Transitional Holdings in a report on Tuesday, June 6th. Finally, Mizuho increased their target price on shares of Quintiles Transitional Holdings from $90.00 to $93.00 and gave the company a buy rating in a research note on Thursday, May 4th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Quintiles Transitional Holdings presently has a consensus rating of Hold and a consensus target price of $88.22.
Shares of Quintiles Transitional Holdings (Q) traded up 0.67% during midday trading on Thursday, reaching $91.26. 55,270 shares of the company were exchanged. The company’s 50-day moving average price is $89.21 and its 200 day moving average price is $82.57. The stock has a market capitalization of $20.08 billion, a price-to-earnings ratio of 201.90 and a beta of 0.64. Quintiles Transitional Holdings has a 52-week low of $70.10 and a 52-week high of $92.54.
Quintiles Transitional Holdings (NYSE:Q) last posted its earnings results on Wednesday, May 3rd. The medical research company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.95 by $0.06. Quintiles Transitional Holdings had a net margin of 1.06% and a return on equity of 18.03%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. Quintiles Transitional Holdings’s quarterly revenue was up 72.5% on a year-over-year basis. On average, equities analysts predict that Quintiles Transitional Holdings will post $4.54 earnings per share for the current year.
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Quintiles Transitional Holdings declared that its board has approved a share repurchase program on Wednesday, May 24th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the medical research company to repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
In other Quintiles Transitional Holdings news, Director Dennis B. Ph D. Gillings sold 860,000 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $84.01, for a total value of $72,248,600.00. Following the completion of the sale, the director now owns 10,002,230 shares in the company, valued at approximately $840,287,342.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Cpp Investment Board Private H sold 7,131,165 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $84.01, for a total transaction of $599,089,171.65. The disclosure for this sale can be found here. Insiders have sold a total of 8,758,400 shares of company stock valued at $735,783,985 over the last ninety days. 6.40% of the stock is owned by insiders.
Several large investors have recently modified their holdings of Q. 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 in the last quarter. IFP Advisors Inc raised its position 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 valued at $143,000 after buying an additional 1,156 shares during the last quarter. Archford Capital Strategies LLC purchased a new position in Quintiles Transitional Holdings during the first quarter valued at $160,000. Bbva Compass Bancshares Inc. purchased a new position in Quintiles Transitional Holdings during the first quarter valued at $170,000. Finally, Toronto Dominion Bank raised its position 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 valued at $173,000 after buying an additional 339 shares during the last quarter. Institutional investors own 92.47% 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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