INC Research Holdings, Inc. (INCR) Position Reduced by Schroder Investment Management Group
Schroder Investment Management Group reduced its position in shares of INC Research Holdings, Inc. (NASDAQ:INCR) by 2.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 360,807 shares of the company’s stock after selling 9,751 shares during the quarter. Schroder Investment Management Group owned approximately 0.35% of INC Research worth $18,978,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of INCR. Lee Thomas H Partners LP bought a new stake in INC Research during the 3rd quarter valued at $1,316,644,000. BlackRock Inc. raised its holdings in INC Research by 82.3% during the 2nd quarter. BlackRock Inc. now owns 6,461,899 shares of the company’s stock valued at $378,020,000 after buying an additional 2,917,605 shares during the last quarter. Janus Henderson Group PLC bought a new stake in INC Research during the 2nd quarter valued at $99,424,000. State Street Corp raised its holdings in INC Research by 112.8% during the 2nd quarter. State Street Corp now owns 1,769,353 shares of the company’s stock valued at $103,508,000 after buying an additional 937,864 shares during the last quarter. Finally, Koch Industries Inc. bought a new stake in INC Research during the 2nd quarter valued at $499,000. Institutional investors own 99.56% of the company’s stock.
INCR has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of INC Research from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Credit Suisse Group initiated coverage on shares of INC Research in a report on Wednesday, October 11th. They set an “outperform” rating and a $68.00 price target for the company. Jefferies Group reiterated a “buy” rating and set a $55.00 price target on shares of INC Research in a report on Friday, November 10th. TheStreet upgraded shares of INC Research from a “c” rating to a “b-” rating in a report on Monday, November 6th. Finally, KeyCorp reiterated a “market perform” rating and set a $46.00 price target (down from $68.00) on shares of INC Research in a report on Monday, November 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $52.67.
INC Research (NASDAQ:INCR) last issued its quarterly earnings data on Thursday, November 9th. The company reported $0.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.09). INC Research had a positive return on equity of 14.42% and a negative net margin of 4.29%. The company had revenue of $592.21 million during the quarter, compared to the consensus estimate of $604.95 million. During the same quarter last year, the company posted $0.64 earnings per share. The firm’s revenue for the quarter was up 128.2% compared to the same quarter last year. sell-side analysts predict that INC Research Holdings, Inc. will post 2.15 earnings per share for the current fiscal year.
In other news, CFO Gregory S. Rush sold 9,703 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $54.48, for a total value of $528,619.44. Following the sale, the chief financial officer now directly owns 78,593 shares of the company’s stock, valued at approximately $4,281,746.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher L. Gaenzle sold 4,682 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $54.56, for a total transaction of $255,449.92. Following the completion of the sale, the chief accounting officer now directly owns 60,579 shares in the company, valued at $3,305,190.24. The disclosure for this sale can be found here. Insiders sold a total of 16,733 shares of company stock valued at $912,270 over the last 90 days. Company insiders own 0.24% of the company’s stock.
INC Research 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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