Kornitzer Capital Management Inc. KS increased its position in shares of INC Research Holdings Inc. (NASDAQ:INCR) by 282.6% during the second quarter, Holdings Channel reports. The firm owned 242,120 shares of the company’s stock after buying an additional 178,835 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in INC Research Holdings were worth $9,232,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Glenmede Trust Co. NA bought a new stake in shares of INC Research Holdings during the first quarter worth approximately $465,000. Pacad Investment Ltd. bought a new stake in shares of INC Research Holdings during the first quarter worth approximately $218,000. Prudential Financial Inc. boosted its stake in shares of INC Research Holdings by 294.6% in the first quarter. Prudential Financial Inc. now owns 63,919 shares of the company’s stock worth $2,634,000 after buying an additional 47,719 shares during the period. BlackRock Group LTD boosted its stake in shares of INC Research Holdings by 30.2% in the first quarter. BlackRock Group LTD now owns 48,764 shares of the company’s stock worth $2,010,000 after buying an additional 11,305 shares during the period. Finally, BlackRock Fund Advisors boosted its stake in shares of INC Research Holdings by 4.1% in the first quarter. BlackRock Fund Advisors now owns 1,030,807 shares of the company’s stock worth $42,480,000 after buying an additional 40,140 shares during the period. Hedge funds and other institutional investors own 91.27% of the company’s stock.
Shares of INC Research Holdings Inc. (NASDAQ:INCR) traded down 0.27% on Friday, reaching $44.95. The company had a trading volume of 364,692 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 $2.46 billion, a PE ratio of 22.16 and a beta of 1.80. The company has a 50 day moving average price of $44.32 and a 200 day moving average price of $43.74.
INC Research Holdings (NASDAQ:INCR) last announced its earnings results on Thursday, July 28th. The company reported $0.61 EPS for the quarter, topping 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 firm had revenue of $258.80 million for the quarter, compared to analysts’ expectations of $252.39 million. During the same quarter in the previous year, the company earned $0.47 earnings per share. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, equities research analysts anticipate that INC Research Holdings Inc. will post $2.47 earnings per share for the current year.
INCR has been the topic of a number of analyst reports. Credit Suisse Group AG initiated coverage on INC Research Holdings in a report on Monday, June 20th. They set an “outperform” rating and a $51.00 target price on the stock. Zacks Investment Research cut INC Research Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, July 6th. Goldman Sachs Group Inc. increased their target price on INC Research Holdings from $60.00 to $62.00 and gave the company a “buy” rating in a report on Friday, August 12th. Finally, Jefferies Group decreased their price objective on INC Research Holdings from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, August 17th. Three investment 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’s stock. The stock presently has an average rating of “Buy” and an average target price of $55.00.
In other INC Research Holdings news, major shareholder Avista Capital Partners Ii Gp, sold 2,554,409 shares of the company’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $42.06, for a total value of $107,438,442.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO D. Jamie Macdonald sold 100,593 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $43.00, for a total value of $4,325,499.00. Following the completion of the transaction, the chief executive officer now directly owns 105,795 shares in the company, valued at approximately $4,549,185. The disclosure for this sale can be found here. Corporate 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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