D. Jamie Macdonald Sells 53,970 Shares of INC Research Holdings Inc. (INCR) Stock
INC Research Holdings Inc. (NASDAQ:INCR) CEO D. Jamie Macdonald sold 53,970 shares of the business’s stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of $44.30, for a total value of $2,390,871.00. Following the transaction, the chief executive officer now owns 62,220 shares in the company, valued at approximately $2,756,346. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
D. Jamie Macdonald also recently made the following trade(s):
- On Tuesday, August 2nd, D. Jamie Macdonald sold 31,279 shares of INC Research Holdings stock. The stock was sold at an average price of $43.00, for a total value of $1,344,997.00.
- On Wednesday, July 20th, D. Jamie Macdonald sold 100,593 shares of INC Research Holdings stock. The stock was sold at an average price of $43.00, for a total value of $4,325,499.00.
INC Research Holdings Inc. (NASDAQ:INCR) opened at 44.19 on Friday. INC Research Holdings Inc. has a 1-year low of $34.19 and a 1-year high of $57.11. The company has a 50 day moving average price of $44.20 and a 200 day moving average price of $43.38. The firm has a market cap of $2.42 billion, a PE ratio of 21.79 and a beta of 1.80.
INC Research Holdings (NASDAQ:INCR) last released its earnings results on Thursday, July 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.03. The company earned $258.80 million during the quarter, compared to analyst estimates of $252.39 million. INC Research Holdings had a return on equity of 46.76% and a net margin of 7.43%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 earnings per share. On average, equities research analysts forecast that INC Research Holdings Inc. will post $2.47 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of INCR. Vanguard Group Inc. increased its position in INC Research Holdings by 29.8% in the second quarter. Vanguard Group Inc. now owns 4,732,938 shares of the company’s stock worth $180,467,000 after buying an additional 1,087,652 shares during the period. JPMorgan Chase & Co. increased its position in INC Research Holdings by 2,867.5% in the second quarter. JPMorgan Chase & Co. now owns 2,360,478 shares of the company’s stock worth $90,005,000 after buying an additional 2,280,933 shares during the period. BlackRock Fund Advisors increased its position in INC Research Holdings by 64.0% in the second quarter. BlackRock Fund Advisors now owns 1,690,162 shares of the company’s stock worth $64,446,000 after buying an additional 659,355 shares during the period. TimesSquare Capital Management LLC increased its position in INC Research Holdings by 23.0% in the first quarter. TimesSquare Capital Management LLC now owns 1,519,250 shares of the company’s stock worth $62,608,000 after buying an additional 284,300 shares during the period. Finally, Silvercrest Asset Management Group LLC increased its position in INC Research Holdings by 25.7% in the second quarter. Silvercrest Asset Management Group LLC now owns 1,467,019 shares of the company’s stock worth $55,938,000 after buying an additional 299,588 shares during the period. 91.27% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have commented on INCR shares. Goldman Sachs Group Inc. restated a “conviction-buy” rating and set a $82.00 price objective on shares of INC Research Holdings in a research note on Thursday, September 8th. Zacks Investment Research cut INC Research Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 6th. Credit Suisse Group AG started coverage on INC Research Holdings in a research note on Monday, June 20th. They set an “outperform” rating and a $51.00 price objective on the stock. Finally, Jefferies Group reduced their price objective on INC Research Holdings from $56.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, August 17th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. INC Research Holdings 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.
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