Underhill Investment Management LLC boosted its stake in INC Research Holdings Inc. (NASDAQ:INCR) by 51.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 277,100 shares of the company’s stock after buying an additional 94,050 shares during the period. INC Research Holdings comprises about 5.7% of Underhill Investment Management LLC’s portfolio, making the stock its 11th largest position. Underhill Investment Management LLC’s holdings in INC Research Holdings were worth $10,566,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in INC Research Holdings during the fourth quarter valued at $16,805,000. Glenmede Trust Co. NA bought a new stake in INC Research Holdings during the first quarter valued at $465,000. Virginia Retirement System bought a new stake in INC Research Holdings during the first quarter valued at $1,150,000. Pacad Investment Ltd. bought a new stake in INC Research Holdings during the first quarter valued at $218,000. Finally, Prudential Financial Inc. boosted its stake in INC Research Holdings by 294.6% in the first quarter. Prudential Financial Inc. now owns 63,919 shares of the company’s stock valued at $2,634,000 after buying an additional 47,719 shares during the period. 91.27% of the stock is currently owned by institutional investors.
INC Research Holdings Inc. (NASDAQ:INCR) traded up 0.755% during trading on Tuesday, hitting $44.725. The stock had a trading volume of 325,203 shares. INC Research Holdings Inc. has a 52-week low of $34.19 and a 52-week high of $57.11. The stock has a market capitalization of $2.45 billion, a PE ratio of 22.054 and a beta of 1.80. The stock’s 50-day moving average is $44.26 and its 200-day moving average is $43.34.
INC Research Holdings (NASDAQ:INCR) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. INC Research Holdings had a return on equity of 46.76% and a net margin of 7.43%. The company had revenue of $258.80 million for the quarter, compared to analyst estimates of $252.39 million. During the same quarter in the prior year, the firm posted $0.47 EPS. INC Research Holdings’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, analysts predict that INC Research Holdings Inc. will post $2.47 earnings per share for the current fiscal year.
Several analysts recently weighed in on INCR shares. Jefferies Group reiterated a “buy” rating on shares of INC Research Holdings in a report on Friday, June 10th. Credit Suisse Group AG started coverage on shares of INC Research Holdings in a report on Monday, June 20th. They issued an “outperform” rating and a $51.00 price target on the stock. Zacks Investment Research cut shares of INC Research Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, July 6th. Finally, Goldman Sachs Group Inc. lifted their price target on shares of INC Research Holdings from $60.00 to $62.00 and gave the company a “buy” rating in a report on Friday, August 12th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $55.00.
In other INC Research Holdings news, Director Teachers Pension Plan Ontario sold 2,445,591 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $42.06, for a total value of $102,861,557.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Christopher L. Gaenzle sold 21,918 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $40.20, for a total value of $881,103.60. Following the completion of the sale, the chief accounting officer now owns 33,530 shares in the company, valued at approximately $1,347,906. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
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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