Quintiles Transitional Holdings Inc. (Q) Stake Lessened by CIBC World Markets Inc.

CIBC World Markets Inc. reduced its position in shares of Quintiles Transitional Holdings Inc. (NYSE:Q) by 3.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,853 shares of the medical research company’s stock after selling 228 shares during the quarter. CIBC World Markets Inc.’s holdings in Quintiles Transitional Holdings were worth $613,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Argent Trust Co boosted its stake in shares of Quintiles Transitional Holdings by 2.5% during the 2nd quarter. Argent Trust Co now owns 12,575 shares of the medical research company’s stock worth $1,125,000 after acquiring an additional 309 shares in the last quarter. Fiduciary Trust Co. purchased a new stake in shares of Quintiles Transitional Holdings during the 2nd quarter worth about $105,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Quintiles Transitional Holdings by 4,488.6% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 231,585 shares of the medical research company’s stock worth $20,727,000 after acquiring an additional 226,538 shares in the last quarter. Meiji Yasuda Life Insurance Co purchased a new stake in shares of Quintiles Transitional Holdings during the 2nd quarter worth about $886,000. Finally, Key Square Capital Management LLC purchased a new stake in shares of Quintiles Transitional Holdings during the 2nd quarter worth about $2,738,000. 91.34% of the stock is currently owned by institutional investors and hedge funds.

In related news, major shareholder Cpp Investment Board Private H sold 5,218,245 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $97.33, for a total transaction of $507,891,785.85. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ari Bousbib sold 92,160 shares of the company’s stock in a transaction that occurred on 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 directly 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 sold 6,363,847 shares of company stock worth $618,573,696 in the last ninety days. Insiders own 6.40% of the company’s stock.

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Quintiles Transitional Holdings Inc. (Q) opened at 95.07 on Tuesday. Quintiles Transitional Holdings Inc. has a 1-year low of $70.10 and a 1-year high of $99.95. The firm has a 50-day moving average of $93.68 and a 200-day moving average of $86.73. The stock has a market capitalization of $20.59 billion, a price-to-earnings ratio of 275.57 and a beta of 0.63.

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 the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The company’s revenue for the quarter was up 68.7% compared to the same quarter last year. Equities research analysts anticipate that Quintiles Transitional Holdings Inc. will post $4.58 EPS for the current year.

Quintiles Transitional Holdings declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 24th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

A number of brokerages recently weighed in 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 note on Friday, August 4th. Zacks Investment Research lowered shares of Quintiles Transitional Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $94.00 price target on shares of Quintiles Transitional Holdings in a research note on Friday, August 4th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $92.00 price target (up from $87.00) on shares of Quintiles Transitional Holdings in a research note on Friday, August 4th. Finally, William Blair raised shares of Quintiles Transitional Holdings from a “market perform” rating to an “outperform” rating and raised their price target for the company from $70.10 to $93.42 in a research note on Friday, August 4th. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $91.05.

Quintiles Transitional Holdings 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.

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

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