INC Research Holdings Inc. (NASDAQ:INCR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “INC Research Holdings, Inc. is a global contract research organization. It provides the full range of Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. Its services include clinical trial management services comprising patient recruitment and retention, project management, clinical monitoring, drug safety/pharmacovigilance, medical affairs, quality assurance, regulatory and medical writing, and functional service; and data services consisting of clinical data management, electronic data capture, and biostatistics. INC Research Holdings, Inc. is headquartered in Raleigh, North Carolina. “

Several other equities analysts have also issued reports on INCR. Jefferies Group reiterated a “buy” rating and issued a $56.00 price target on shares of INC Research Holdings in a research note on Tuesday, November 1st. Goldman Sachs Group Inc. raised their price objective on INC Research Holdings from $60.00 to $62.00 and gave the company a “buy” rating in a report on Friday, August 12th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $55.88.

Analyst Recommendations for INC Research Holdings (NASDAQ:INCR)

Shares of INC Research Holdings (NASDAQ:INCR) opened at 50.75 on Friday. The company has a 50-day moving average price of $45.87 and a 200-day moving average price of $43.71. The company has a market cap of $2.72 billion, a P/E ratio of 26.94 and a beta of 1.78. INC Research Holdings has a 12-month low of $34.19 and a 12-month high of $57.11.

INC Research Holdings (NASDAQ:INCR) last issued its quarterly earnings results on Monday, October 31st. The company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.01. INC Research Holdings had a return on equity of 49.42% and a net margin of 6.58%. The company had revenue of $259.56 million for the quarter, compared to analyst estimates of $259.89 million. During the same quarter last year, the company posted $0.58 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts predict that INC Research Holdings will post $2.50 earnings per share for the current year.

In related news, Director David F. Burgstahler bought 1,000 shares of the business’s stock in a transaction on Monday, September 19th. The shares were purchased at an average cost of $43.19 per share, with a total value of $43,190.00. Following the acquisition, the director now owns 36,065 shares of the company’s stock, valued at $1,557,647.35. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CAO Christopher L. Gaenzle sold 4,734 shares of INC Research Holdings stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $43.14, for a total value of $204,224.76. Following the transaction, the chief accounting officer now directly owns 19,252 shares in the company, valued at $830,531.28. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fox Run Management L.L.C. increased its position in shares of INC Research Holdings by 52.2% in the second quarter. Fox Run Management L.L.C. now owns 13,700 shares of the company’s stock valued at $522,000 after buying an additional 4,700 shares during the last quarter. Americafirst Capital Management LLC increased its position in shares of INC Research Holdings by 8.6% in the second quarter. Americafirst Capital Management LLC now owns 39,835 shares of the company’s stock valued at $1,519,000 after buying an additional 3,150 shares during the last quarter. NN Investment Partners Holdings N.V. increased its position in shares of INC Research Holdings by 10.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 16,450 shares of the company’s stock valued at $627,000 after buying an additional 1,540 shares during the last quarter. Quotient Investors LLC bought a new position in shares of INC Research Holdings during the second quarter valued at approximately $574,000. Finally, Panagora Asset Management Inc. increased its position in shares of INC Research Holdings by 116.5% in the first quarter. Panagora Asset Management Inc. now owns 110,852 shares of the company’s stock valued at $4,568,000 after buying an additional 59,658 shares during the last quarter. 94.37% of the stock is currently owned by hedge funds and other institutional investors.

INC Research Holdings Company Profile

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.

5 Day Chart for NASDAQ:INCR

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