Quintiles Transitional Holdings Inc. (NYSE:Q) Director Dennis B. Ph D. Gillings sold 968,023 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $97.33, for a total value of $94,217,678.59. Following the transaction, the director now owns 9,071,839 shares in the company, valued at approximately $882,962,089.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Quintiles Transitional Holdings Inc. (NYSE:Q) traded down 1.03% during trading on Friday, hitting $94.47. The stock had a trading volume of 5,759,583 shares. The company has a market cap of $20.46 billion, a price-to-earnings ratio of 273.83 and a beta of 0.63. The company has a 50-day moving average of $93.55 and a 200 day moving average of $86.47. Quintiles Transitional Holdings Inc. has a 52 week low of $70.10 and a 52 week high of $99.95.
Quintiles Transitional Holdings (NYSE:Q) last posted 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 firm had revenue of $1.97 billion during 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 business’s quarterly revenue was up 68.7% on a year-over-year basis. During the same period last year, the company earned $0.93 earnings per share. On average, equities research analysts anticipate that Quintiles Transitional Holdings Inc. will post $4.58 EPS for the current year.
Quintiles Transitional Holdings announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 24th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded 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. BidaskClub raised Quintiles Transitional Holdings from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 19th. Citigroup Inc. lifted their price objective on Quintiles Transitional Holdings from $96.00 to $97.00 and gave the company a “neutral” rating in a report on Monday, August 7th. William Blair raised Quintiles Transitional Holdings from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $70.10 to $93.42 in a report on Friday, August 4th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $92.00 price objective (up from $87.00) on shares of Quintiles Transitional Holdings in a report on Friday, August 4th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Quintiles Transitional Holdings presently has an average rating of “Buy” and an average price target of $90.25.
Hedge funds have recently modified their holdings of the company. Fiduciary Trust Co. acquired a new stake in shares of Quintiles Transitional Holdings in the second quarter valued at about $105,000. Global X Management Co. LLC increased 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 during the period. GWM Advisors LLC acquired a new stake in shares of Quintiles Transitional Holdings in the second quarter valued at about $122,000. Korea Investment CORP increased its stake in shares of 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 valued at $123,000 after buying an additional 805 shares during the period. Finally, IFP Advisors Inc increased its stake in shares of 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 period. 91.36% of the stock is owned by 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.
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