Quintiles Transitional Holdings Inc. (Q) Shares Sold by State Street Corp
State Street Corp lowered its stake in Quintiles Transitional Holdings Inc. (NYSE:Q) by 10.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,556,374 shares of the medical research company’s stock after selling 291,512 shares during the quarter. State Street Corp owned 1.18% of Quintiles Transitional Holdings worth $228,799,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Fiduciary Trust Co. purchased a new position in Quintiles Transitional Holdings in the 2nd quarter valued at $105,000. Global X Management Co. LLC lifted its holdings in Quintiles Transitional Holdings by 30.8% in the 1st quarter. Global X Management Co. LLC now owns 1,469 shares of the medical research company’s stock valued at $118,000 after purchasing an additional 346 shares in the last quarter. Korea Investment CORP lifted its holdings in Quintiles Transitional Holdings by 142.5% in the 2nd quarter. Korea Investment CORP now owns 1,370 shares of the medical research company’s stock valued at $123,000 after purchasing an additional 805 shares in the last quarter. Archford Capital Strategies LLC purchased a new position in Quintiles Transitional Holdings in the 1st quarter valued at $160,000. Finally, Citigroup Inc. lifted its holdings in Quintiles Transitional Holdings by 15.5% in the 2nd quarter. Citigroup Inc. now owns 1,858 shares of the medical research company’s stock valued at $167,000 after purchasing an additional 250 shares in the last quarter. 93.22% of the stock is currently owned by hedge funds and other institutional investors.
Quintiles Transitional Holdings Inc. (Q) opened at 99.67 on Wednesday. Quintiles Transitional Holdings Inc. has a 12 month low of $70.10 and a 12 month high of $100.00. The firm has a market capitalization of $21.58 billion, a P/E ratio of 288.90 and a beta of 0.62. The stock’s 50 day moving average price is $95.87 and its 200-day moving average price is $89.00.
Quintiles Transitional Holdings (NYSE:Q) last announced its earnings results on Thursday, August 3rd. The medical research company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.05 by $0.04. The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.96 billion. Quintiles Transitional Holdings had a return on equity of 14.23% and a net margin of 0.82%. The company’s revenue was up 68.7% on a year-over-year basis. During the same period last year, the business posted $0.93 EPS. On average, analysts forecast that Quintiles Transitional Holdings Inc. will post $4.58 earnings per share for the current year.
In other Quintiles Transitional Holdings news, insider Kevin C. Knightly sold 20,000 shares of the firm’s 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 completion of the sale, the insider now owns 46,826 shares in the company, valued at approximately $4,227,451.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ari Bousbib sold 92,160 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $90.35, for a total value of $8,326,656.00. Following the sale, the insider now owns 1,082,919 shares of the company’s stock, valued at approximately $97,841,731.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,198,382 shares of company stock worth $1,361,834,375. Company insiders own 6.40% of the company’s stock.
A number of research analysts have weighed in on the company. Barclays PLC restated an “overweight” rating and issued a $98.00 price objective (up previously from $90.00) on shares of Quintiles Transitional Holdings in a report on Monday, July 17th. William Blair upgraded Quintiles Transitional Holdings from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $70.10 to $93.42 in a report on Friday, August 4th. Jefferies Group LLC reiterated a “hold” rating and set a $94.00 price target on shares of Quintiles Transitional Holdings in a report on Friday, August 4th. Citigroup Inc. lifted 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. Finally, Royal Bank Of Canada assumed coverage on Quintiles Transitional Holdings in a report on Tuesday, September 19th. They set an “outperform” rating and a $116.00 price target on the stock. Eleven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $94.38.
Quintiles Transitional Holdings 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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