INC Research Holdings, Inc. (INCR) Shares Bought by Rhumbline Advisers
Rhumbline Advisers increased its stake in INC Research Holdings, Inc. (NASDAQ:INCR) by 120.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 106,304 shares of the company’s stock after buying an additional 57,983 shares during the period. Rhumbline Advisers owned about 0.20% of INC Research Holdings worth $6,219,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Invictus RG bought a new stake in INC Research Holdings during the first quarter valued at $115,000. Foresters Investment Management Company Inc. acquired a new position in INC Research Holdings during the first quarter valued at approximately $128,000. Fifth Third Bancorp raised its position in INC Research Holdings by 5.4% in the first quarter. Fifth Third Bancorp now owns 2,904 shares of the company’s stock valued at $133,000 after buying an additional 149 shares during the period. Ameritas Investment Partners Inc. acquired a new position in INC Research Holdings during the first quarter valued at approximately $164,000. Finally, BlueCrest Capital Management Ltd acquired a new position in INC Research Holdings during the first quarter valued at approximately $202,000. 98.70% of the stock is owned by institutional investors.
INC Research Holdings, Inc. (NASDAQ:INCR) opened at 57.40 on Tuesday. INC Research Holdings, Inc. has a 12-month low of $40.65 and a 12-month high of $61.10. The stock has a 50 day moving average of $56.26 and a 200 day moving average of $52.19. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 35.17 and a beta of 1.42.
INC Research Holdings (NASDAQ:INCR) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.64 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.64. The business had revenue of $258.10 million during the quarter, compared to the consensus estimate of $256.76 million. INC Research Holdings had a return on equity of 40.69% and a net margin of 5.69%. INC Research Holdings’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 earnings per share. Equities research analysts anticipate that INC Research Holdings, Inc. will post $2.61 earnings per share for the current year.
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Several research firms have recently commented on INCR. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $65.00 price target on shares of INC Research Holdings in a report on Monday, August 7th. William Blair lowered shares of INC Research Holdings from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 20th. SunTrust Banks, Inc. raised shares of INC Research Holdings from a “hold” rating to a “buy” rating and lifted their price target for the company from $48.00 to $67.00 in a report on Wednesday, May 31st. Jefferies Group LLC lowered shares of INC Research Holdings from a “buy” rating to a “hold” rating and lifted their price target for the company from $62.00 to $64.00 in a report on Thursday, June 29th. Finally, KeyCorp raised shares of INC Research Holdings from a “sector weight” rating to an “overweight” rating and set a $68.00 price target for the company in a report on Monday, June 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $63.79.
In other INC Research Holdings news, CAO Christopher L. Gaenzle sold 6,873 shares of the business’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $58.32, for a total transaction of $400,833.36. Following the completion of the transaction, the chief accounting officer now owns 47,450 shares of the company’s stock, valued at $2,767,284. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Alistair Macdonald sold 8,828 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $55.65, for a total value of $491,278.20. Following the transaction, the chief executive officer now directly owns 110,629 shares of the company’s stock, valued at approximately $6,156,503.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,256 shares of company stock valued at $1,508,312. 0.24% of the stock is owned by insiders.
INC Research Holdings Company Profile
INC Research Holdings, Inc is a global contract research organization (CRO). The Company focuses 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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