INC Research Holdings Inc. (NASDAQ:INCR) VP Gregory S. Rush sold 35,503 shares of the stock in a transaction on Friday, September 30th. The stock was sold at an average price of $44.70, for a total value of $1,586,984.10. Following the sale, the vice president now owns 82,712 shares in the company, valued at approximately $3,697,226.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
INC Research Holdings Inc. (NASDAQ:INCR) opened at 45.16 on Wednesday. The stock has a 50 day moving average of $44.16 and a 200 day moving average of $43.50. INC Research Holdings Inc. has a 12-month low of $34.19 and a 12-month high of $57.11. The company has a market cap of $2.47 billion, a PE ratio of 22.27 and a beta of 1.80.
INC Research Holdings (NASDAQ:INCR) last posted its earnings results on Thursday, July 28th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. INC Research Holdings had a net margin of 7.43% and a return on equity of 46.76%. The business earned $258.80 million during the quarter, compared to the consensus estimate of $252.39 million. During the same quarter in the previous year, the firm posted $0.47 EPS. The firm’s revenue was up 13.8% on a year-over-year basis. Equities analysts expect that INC Research Holdings Inc. will post $2.47 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the company. Underhill Investment Management LLC increased its stake in INC Research Holdings by 51.4% in the second quarter. Underhill Investment Management LLC now owns 277,100 shares of the company’s stock worth $10,566,000 after buying an additional 94,050 shares during the period. BlackRock Fund Advisors increased its stake in 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. Silvercrest Asset Management Group LLC increased its stake in INC Research Holdings by 15.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,167,431 shares of the company’s stock worth $48,110,000 after buying an additional 159,122 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in INC Research Holdings by 14.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 800,000 shares of the company’s stock worth $32,968,000 after buying an additional 100,000 shares during the period. Finally, BlackRock Group LTD increased its stake in 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. 91.27% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have issued reports on the company. Goldman Sachs Group Inc. restated a “conviction-buy” rating and set a $82.00 target price on shares of INC Research Holdings in a research report on Thursday, September 8th. Zacks Investment Research upgraded INC Research Holdings from a “hold” rating to a “strong-buy” rating and set a $51.00 target price on the stock in a research report on Friday, August 19th. Jefferies Group dropped their target price on INC Research Holdings from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 17th. Finally, Credit Suisse Group AG assumed coverage on INC Research Holdings in a research report on Monday, June 20th. They set an “outperform” rating and a $51.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. INC Research Holdings presently has a consensus rating of “Buy” and an average target price of $55.00.
About INC Research Holdings
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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