INC Research Holdings Inc. (NASDAQ:INCR) VP Gregory S. Rush sold 35,503 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now directly owns 82,712 shares of the company’s stock, valued at approximately $3,697,226.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of INC Research Holdings Inc. (NASDAQ:INCR) opened at 44.95 on Tuesday. The company’s 50-day moving average price is $44.18 and its 200-day moving average price is $43.47. The stock has a market cap of $2.46 billion, a PE ratio of 22.16 and a beta of 1.80. INC Research Holdings Inc. has a 52-week low of $34.19 and a 52-week high of $57.11.
INC Research Holdings (NASDAQ:INCR) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.03. The firm earned $258.80 million during the quarter, compared to the consensus estimate of $252.39 million. INC Research Holdings had a return on equity of 46.76% and a net margin of 7.43%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 EPS. Analysts expect that INC Research Holdings Inc. will post $2.47 earnings per share for the current year.
A number of research firms have commented on INCR. Jefferies Group reduced their target price on INC Research Holdings from $56.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, August 17th. Goldman Sachs Group Inc. raised their price target on INC Research Holdings from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Zacks Investment Research cut INC Research Holdings from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Finally, Credit Suisse Group AG assumed coverage on INC Research Holdings in a research report on Monday, June 20th. They issued an “outperform” rating and a $51.00 price target for the company. Three analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $55.00.
Hedge funds and other institutional investors have recently modified their holdings of the company. Rational Advisors LLC bought a new position in shares of INC Research Holdings during the second quarter worth approximately $109,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of INC Research Holdings by 302.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,052 shares of the company’s stock worth $116,000 after buying an additional 2,294 shares during the last quarter. Acrospire Investment Management LLC bought a new position in shares of INC Research Holdings during the first quarter worth approximately $117,000. BlackRock Inc. increased its position in shares of INC Research Holdings by 4.6% in the second quarter. BlackRock Inc. now owns 4,810 shares of the company’s stock worth $183,000 after buying an additional 213 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of INC Research Holdings during the second quarter worth approximately $190,000. Hedge funds and other institutional investors own 91.27% of the company’s stock.
INC Research Holdings Company Profile
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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