Insider Selling: INC Research Holdings Inc. (INCR) Director Sells 12,197 Shares of Stock
INC Research Holdings Inc. (NASDAQ:INCR) Director Robert W. Breckon sold 12,197 shares of the stock in a transaction on Monday, September 26th. The shares were sold at an average price of $44.16, for a total value of $538,619.52. Following the sale, the director now directly owns 15,561 shares in the company, valued at approximately $687,173.76. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of INC Research Holdings Inc. (NASDAQ:INCR) opened at 44.60 on Thursday. The stock has a 50 day moving average price of $44.22 and a 200-day moving average price of $43.37. The firm has a market cap of $2.44 billion, a PE ratio of 21.99 and a beta of 1.80. INC Research Holdings Inc. has a 52-week low of $34.19 and a 52-week high of $57.11.
INC Research Holdings (NASDAQ:INCR) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. INC Research Holdings had a net margin of 7.43% and a return on equity of 46.76%. The company earned $258.80 million during the quarter, compared to the consensus estimate of $252.39 million. During the same quarter in the prior year, the firm posted $0.47 earnings per share. INC Research Holdings’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities analysts anticipate that INC Research Holdings Inc. will post $2.47 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Rational Advisors LLC bought a new position in INC Research Holdings during the second quarter valued at about $109,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in INC Research Holdings by 302.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,052 shares of the company’s stock valued at $116,000 after buying an additional 2,294 shares in the last quarter. Acrospire Investment Management LLC bought a new position in INC Research Holdings during the first quarter valued at about $117,000. BlackRock Inc. increased its position in INC Research Holdings by 4.6% in the second quarter. BlackRock Inc. now owns 4,810 shares of the company’s stock valued at $183,000 after buying an additional 213 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in INC Research Holdings during the second quarter valued at about $190,000. Institutional investors own 91.27% of the company’s stock.
Several analysts have issued reports on INCR shares. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating and set a $82.00 target price on shares of INC Research Holdings in a research report on Thursday, September 8th. Zacks Investment Research cut INC Research Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, July 6th. Credit Suisse Group AG started coverage on INC Research Holdings in a research report on Monday, June 20th. They set an “outperform” rating and a $51.00 target price on the stock. Finally, Jefferies Group dropped their target price on INC Research Holdings from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 17th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $55.00.
About INC Research Holdings
INC Research Holdings, Inc is a global contract research organization (CRO). The Company is focused on Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. The Company operates through two segments: Clinical Development Services and Phase I Services.
Receive News & Stock Ratings for INC Research Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for INC Research Holdings Inc. and related stocks with our FREE daily email newsletter.