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 Wednesday.

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. “

Other analysts have also issued reports about the stock. Jefferies Group lowered their price objective on shares of INC Research Holdings from $56.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, August 17th. Goldman Sachs Group Inc. boosted their target price on shares of INC Research Holdings from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $55.86.

Analyst Recommendations for INC Research Holdings (NASDAQ:INCR)

INC Research Holdings (NASDAQ:INCR) opened at 51.30 on Wednesday. The stock has a market cap of $2.75 billion, a P/E ratio of 27.23 and a beta of 1.78. The company has a 50 day moving average of $46.99 and a 200-day moving average of $43.98. 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 released its quarterly earnings data on Monday, October 31st. The company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.01. INC Research Holdings had a net margin of 6.58% and a return on equity of 49.42%. The company earned $259.56 million during the quarter, compared to analyst estimates of $259.89 million. During the same period in the prior year, the firm earned $0.58 earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts forecast that INC Research Holdings will post $2.50 earnings per share for the current year.

In other news, CAO Christopher L. Gaenzle sold 4,734 shares of the stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $43.14, for a total transaction of $204,224.76. Following the transaction, the chief accounting officer now owns 19,252 shares in the company, valued at approximately $830,531.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gregory S. Rush sold 35,503 shares of the stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $44.70, for a total value of $1,586,984.10. Following the transaction, the vice president now owns 82,712 shares in the company, valued at approximately $3,697,226.40. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Underhill Investment Management LLC raised its position in shares of INC Research Holdings by 51.4% in the second quarter. Underhill Investment Management LLC now owns 277,100 shares of the company’s stock worth $10,566,000 after buying an additional 94,050 shares during the period. Strs Ohio raised its position in shares of INC Research Holdings by 62.8% in the second quarter. Strs Ohio now owns 28,000 shares of the company’s stock worth $1,067,000 after buying an additional 10,800 shares during the period. Smith Asset Management Group LP raised its position in shares of INC Research Holdings by 3.7% in the second quarter. Smith Asset Management Group LP now owns 62,805 shares of the company’s stock worth $2,395,000 after buying an additional 2,248 shares during the period. Bank of Montreal Can acquired a new position in shares of INC Research Holdings during the second quarter worth about $3,350,000. Finally, Old Mutual Global Investors UK Ltd. raised its position in shares of INC Research Holdings by 93.3% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 119,840 shares of the company’s stock worth $4,569,000 after buying an additional 57,846 shares during the period. Hedge funds and other institutional investors own 95.60% of the company’s stock.

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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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