Quintiles Transitional Holdings Inc. (Q) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board cut its position in shares of Quintiles Transitional Holdings Inc. (NYSE:Q) by 12.2% during the second quarter, Holdings Channel reports. The fund owned 17,031,826 shares of the medical research company’s stock after selling 2,377,055 shares during the period. Quintiles Transitional Holdings accounts for approximately 3.5% of Canada Pension Plan Investment Board’s investment portfolio, making the stock its largest position. Canada Pension Plan Investment Board owned approximately 0.08% of Quintiles Transitional Holdings worth $1,524,348,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Global X Management Co. LLC boosted its stake in shares of Quintiles Transitional Holdings by 30.8% in the first quarter. Global X Management Co. LLC now owns 1,469 shares of the medical research company’s stock worth $118,000 after buying an additional 346 shares during the period. Korea Investment CORP boosted its stake in shares of Quintiles Transitional Holdings by 142.5% in the second quarter. Korea Investment CORP now owns 1,370 shares of the medical research company’s stock worth $123,000 after buying an additional 805 shares during the period. IFP Advisors Inc boosted its stake in shares of Quintiles Transitional Holdings by 187.1% in the first quarter. IFP Advisors Inc now owns 1,774 shares of the medical research company’s stock worth $143,000 after buying an additional 1,156 shares during the period. Archford Capital Strategies LLC purchased a new stake in shares of Quintiles Transitional Holdings during the first quarter worth approximately $160,000. Finally, Bbva Compass Bancshares Inc. purchased a new stake in shares of Quintiles Transitional Holdings during the first quarter worth approximately $170,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

Quintiles Transitional Holdings Inc. (NYSE:Q) opened at 90.10 on Thursday. Quintiles Transitional Holdings Inc. has a 52-week low of $70.10 and a 52-week high of $92.54. The stock’s 50 day moving average is $90.13 and its 200-day moving average is $83.39. The company has a market cap of $19.83 billion, a PE ratio of 199.34 and a beta of 0.64.

Quintiles Transitional Holdings (NYSE:Q) last announced its quarterly earnings results on Thursday, August 3rd. The medical research company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.04. Quintiles Transitional Holdings had a net margin of 0.82% and a return on equity of 14.23%. The company had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the company earned $0.93 earnings per share. Quintiles Transitional Holdings’s quarterly revenue was up 68.7% on a year-over-year basis. Equities research analysts predict that Quintiles Transitional Holdings Inc. will post $4.58 EPS for the current fiscal year.

Quintiles Transitional Holdings announced that its board has approved a stock repurchase program on Wednesday, May 24th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical research company to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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A number of brokerages have commented on Q. Barclays PLC set a $100.00 price target on shares of Quintiles Transitional Holdings and gave the company a “buy” rating in a research report on Friday, August 4th. Jefferies Group LLC reaffirmed a “hold” rating and set a $94.00 price target on shares of Quintiles Transitional Holdings in a research report on Friday, August 4th. William Blair raised shares of Quintiles Transitional Holdings from a “market perform” rating to an “outperform” rating and upped their price target for the company from $70.10 to $93.42 in a research report on Friday, August 4th. Citigroup Inc. upped their price target on shares of Quintiles Transitional Holdings from $96.00 to $97.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $92.00 price target (up previously from $87.00) on shares of Quintiles Transitional Holdings in a research report on Friday, August 4th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Quintiles Transitional Holdings has an average rating of “Hold” and a consensus price target of $89.94.

In related news, Director Jack M. Greenberg sold 6,092 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $82.50, for a total transaction of $502,590.00. Following the transaction, the director now owns 2,930 shares in the company, valued at $241,725. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ari Bousbib sold 92,160 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $90.35, for a total transaction of $8,326,656.00. Following the transaction, the insider now owns 1,082,919 shares in the company, valued at approximately $97,841,731.65. The disclosure for this sale can be found here. Insiders have sold 8,850,560 shares of company stock worth $744,110,641 in the last quarter. 6.40% of the stock is owned by corporate insiders.

Quintiles Transitional Holdings Company Profile

Quintiles IMS Holdings, Inc, formerly Quintiles Transnational Holdings Inc, provides integrated information and technology-enabled healthcare services. The Company operates through segments, including Commercial Solutions; Research & Development Solutions, and Integrated Engagement Services. The Commercial Solutions segment offerings include national information offerings, sub-national information offerings, technology solutions, and workflow analytics and consulting services.

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Institutional Ownership by Quarter for Quintiles Transitional Holdings (NYSE:Q)

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