Insider Selling: Quintiles Transitional Holdings Inc. (Q) Insider Sells $1,924,423.89 in Stock
Quintiles Transitional Holdings Inc. (NYSE:Q) insider Kevin C. Knightly sold 19,339 shares of Quintiles Transitional Holdings stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $99.51, for a total transaction of $1,924,423.89. Following the completion of the transaction, the insider now directly owns 40,650 shares of the company’s stock, valued at $4,045,081.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Quintiles Transitional Holdings Inc. (Q) opened at 95.79 on Thursday. The company’s 50-day moving average is $91.06 and its 200 day moving average is $84.68. Quintiles Transitional Holdings Inc. has a 12 month low of $70.10 and a 12 month high of $99.95. The company has a market capitalization of $20.74 billion, a price-to-earnings ratio of 277.65 and a beta of 0.64.
Quintiles Transitional Holdings (NYSE:Q) last released its quarterly earnings results on Thursday, August 3rd. The medical research company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.04. Quintiles Transitional Holdings had a return on equity of 14.23% and a net margin of 0.82%. The business had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the business earned $0.93 earnings per share. The company’s quarterly revenue was up 68.7% compared to the same quarter last year. On average, equities research analysts anticipate that Quintiles Transitional Holdings Inc. will post $4.58 earnings per share for the current year.
Quintiles Transitional Holdings announced that its board has approved a stock buyback program on Wednesday, May 24th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several research firms have recently weighed in on Q. BidaskClub cut shares of Quintiles Transitional Holdings from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Jefferies Group LLC reissued a “hold” rating and set a $94.00 price objective on shares of Quintiles Transitional Holdings in a report on Friday, August 4th. William Blair raised shares of Quintiles Transitional Holdings from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $70.10 to $93.42 in a report on Friday, August 4th. Citigroup Inc. boosted their price objective on shares of Quintiles Transitional Holdings from $96.00 to $97.00 and gave the company a “neutral” rating in a report on Monday, August 7th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $92.00 price objective (up from $87.00) on shares of Quintiles Transitional Holdings in a report on Friday, August 4th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $90.25.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fiduciary Trust Co. acquired a new position in Quintiles Transitional Holdings during the second quarter valued at about $105,000. Korea Investment CORP boosted its position in Quintiles Transitional Holdings by 142.5% in the second quarter. Korea Investment CORP now owns 1,370 shares of the medical research company’s stock valued at $123,000 after buying an additional 805 shares during the last quarter. GWM Advisors LLC acquired a new position in Quintiles Transitional Holdings during the second quarter valued at about $122,000. Global X Management Co. LLC boosted its position in Quintiles Transitional Holdings by 30.8% in the first quarter. Global X Management Co. LLC now owns 1,469 shares of the medical research company’s stock valued at $118,000 after buying an additional 346 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in Quintiles Transitional Holdings by 187.1% in the first quarter. IFP Advisors Inc now owns 1,774 shares of the medical research company’s stock valued at $143,000 after buying an additional 1,156 shares during the last quarter. Hedge funds and other institutional investors own 91.36% of the company’s stock.
Quintiles Transitional Holdings Company Profile
Quintiles IMS Holdings, Inc, formerly Quintiles Transnational Holdings Inc, provides integrated information and technology-enabled healthcare services. The Company operates through segments, including Commercial Solutions; Research & Development Solutions, and Integrated Engagement Services. The Commercial Solutions segment offerings include national information offerings, sub-national information offerings, technology solutions, and workflow analytics and consulting services.
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