BNP Paribas Arbitrage SA boosted its stake in INC Research Holdings Inc. (NASDAQ:INCR) by 121.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,606 shares of the company’s stock after buying an additional 1,980 shares during the period. BNP Paribas Arbitrage SA’s holdings in INC Research Holdings were worth $161,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of INCR. Nicholas Investment Partners LP purchased a new stake in shares of INC Research Holdings during the first quarter valued at about $1,868,000. Menta Capital LLC purchased a new stake in shares of INC Research Holdings during the first quarter valued at about $760,000. Palisade Capital Management LLC NJ raised its stake in shares of INC Research Holdings by 113.3% in the first quarter. Palisade Capital Management LLC NJ now owns 306,029 shares of the company’s stock valued at $12,611,000 after buying an additional 162,527 shares during the period. TimesSquare Capital Management LLC raised its stake in shares of INC Research Holdings by 23.0% in the first quarter. TimesSquare Capital Management LLC now owns 1,519,250 shares of the company’s stock valued at $62,608,000 after buying an additional 284,300 shares during the period. Finally, NN Investment Partners Holdings N.V. purchased a new stake in shares of INC Research Holdings during the first quarter valued at about $614,000. 91.27% of the stock is owned by hedge funds and other institutional investors.
INC Research Holdings Inc. (NASDAQ:INCR) opened at 46.45 on Monday. The stock has a market cap of $2.54 billion, a P/E ratio of 22.90 and a beta of 1.80. INC Research Holdings Inc. has a 12-month low of $34.19 and a 12-month high of $57.11. The firm’s 50 day moving average price is $44.30 and its 200-day moving average price is $43.58.
INC Research Holdings (NASDAQ:INCR) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.03. The firm earned $258.80 million during the quarter, compared to analyst estimates of $252.39 million. INC Research Holdings had a return on equity of 46.76% and a net margin of 7.43%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 earnings per share. Equities research analysts anticipate that INC Research Holdings Inc. will post $2.47 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on INCR shares. Jefferies Group lowered their target price on INC Research Holdings from $56.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, August 17th. Goldman Sachs Group Inc. boosted their target price on INC Research Holdings from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, August 12th. Zacks Investment Research downgraded INC Research Holdings from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Finally, Credit Suisse Group AG began coverage on INC Research Holdings in a report on Monday, June 20th. They set an “outperform” rating and a $51.00 price target on the stock. Three research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. INC Research Holdings has a consensus rating of “Buy” and an average target price of $55.00.
In related news, major shareholder Avista Capital Partners Ii Gp, sold 2,554,409 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $42.06, for a total value of $107,438,442.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Christopher L. Gaenzle sold 4,734 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $43.14, for a total transaction of $204,224.76. Following the completion of the transaction, the chief accounting officer now directly owns 19,252 shares of the company’s stock, valued at approximately $830,531.28. The disclosure for this sale can be found here. Insiders own 1.70% 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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