Guggenheim Capital LLC reduced its stake in INC Research Holdings Inc (NASDAQ:INCR) by 24.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 60,678 shares of the company’s stock after selling 19,831 shares during the period. Guggenheim Capital LLC owned about 0.11% of INC Research Holdings worth $3,192,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in INCR. Perkins Investment Management LLC bought a new stake in INC Research Holdings during the third quarter valued at approximately $71,102,000. GW&K Investment Management LLC bought a new stake in INC Research Holdings during the third quarter valued at approximately $42,340,000. Russell Investments Group Ltd. bought a new stake in INC Research Holdings during the fourth quarter valued at approximately $39,034,000. Samlyn Capital LLC bought a new stake in INC Research Holdings during the third quarter valued at approximately $20,759,000. Finally, Arrowpoint Asset Management LLC raised its stake in INC Research Holdings by 22.2% in the fourth quarter. Arrowpoint Asset Management LLC now owns 2,351,416 shares of the company’s stock valued at $123,684,000 after buying an additional 426,482 shares in the last quarter. Institutional investors and hedge funds own 99.79% of the company’s stock.
INC Research Holdings Inc (NASDAQ:INCR) opened at 44.15 on Friday. The stock’s 50 day moving average price is $49.16 and its 200-day moving average price is $48.51. INC Research Holdings Inc has a 12 month low of $36.70 and a 12 month high of $57.11. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 21.75 and a beta of 1.74.
INC Research Holdings (NASDAQ:INCR) last released its earnings results on Tuesday, February 28th. The company reported $0.67 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.67. The business had revenue of $263 million for the quarter, compared to analyst estimates of $269 million. INC Research Holdings had a return on equity of 49.42% and a net margin of 6.58%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 earnings per share. Equities research analysts predict that INC Research Holdings Inc will post $2.66 EPS for the current year.
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A number of research analysts have recently issued reports on the company. Jefferies Group LLC reiterated a “buy” rating and set a $51.00 target price (down previously from $59.00) on shares of INC Research Holdings in a research report on Tuesday, February 28th. First Analysis assumed coverage on INC Research Holdings in a research report on Monday, December 19th. They set an “equal weight” rating and a $59.00 target price on the stock. Goldman Sachs Group Inc lowered INC Research Holdings from a “conviction-buy” rating to a “buy” rating and set a $51.00 target price on the stock. in a research report on Wednesday, March 1st. Zacks Investment Research lowered INC Research Holdings from a “buy” rating to a “hold” rating in a research report on Monday, December 5th. Finally, William Blair reiterated an “outperform” rating on shares of INC Research Holdings in a research report on Wednesday, March 1st. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $52.13.
In other news, CEO Alistair Macdonald sold 14,840 shares of the business’s stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $52.19, for a total value of $774,499.60. Following the transaction, the chief executive officer now owns 69,069 shares of the company’s stock, valued at $3,604,711.11. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Gregory S. Rush sold 2,907 shares of the business’s stock in a transaction that occurred on Thursday, January 19th. The shares were sold at an average price of $50.57, for a total value of $147,006.99. Following the completion of the transaction, the vice president now directly owns 45,782 shares in the company, valued at approximately $2,315,195.74. The disclosure for this sale can be found here. In the last three months, insiders sold 29,136 shares of company stock worth $1,447,611. Corporate insiders own 1.70% of the company’s stock.
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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