Virginia Retirement Systems ET AL acquired a new position in INC Research Holdings, Inc. (NASDAQ:INCR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,300 shares of the company’s stock, valued at approximately $661,000.
Several other institutional investors also recently made changes to their positions in INCR. BlackRock Inc. lifted its position in INC Research Holdings by 40,517.6% in the first quarter. BlackRock Inc. now owns 3,544,294 shares of the company’s stock worth $162,506,000 after purchasing an additional 3,535,568 shares during the period. MARSHALL WACE ASIA Ltd bought a new position in INC Research Holdings in the first quarter worth $37,634,000. Marshall Wace North America L.P. bought a new position in INC Research Holdings in the first quarter worth $37,634,000. Redmile Group LLC bought a new position in INC Research Holdings in the first quarter worth $29,059,000. Finally, Mackenzie Financial Corp lifted its position in INC Research Holdings by 93.1% in the first quarter. Mackenzie Financial Corp now owns 1,196,849 shares of the company’s stock worth $54,876,000 after purchasing an additional 577,034 shares during the period. Institutional investors and hedge funds own 98.97% of the company’s stock.
In other news, CFO Gregory S. Rush sold 9,703 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $54.48, for a total value of $528,619.44. Following the completion of the transaction, the chief financial officer now owns 78,593 shares of the company’s stock, valued at approximately $4,281,746.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Alistair Macdonald sold 10,555 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $58.38, for a total value of $616,200.90. Following the completion of the transaction, the chief executive officer now directly owns 83,935 shares of the company’s stock, valued at approximately $4,900,125.30. The disclosure for this sale can be found here. Insiders sold a total of 215,749 shares of company stock valued at $12,567,826 in the last three months. Corporate insiders own 0.24% of the company’s stock.
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INC Research Holdings, Inc. (INCR) opened at 51.85 on Friday. The company has a market capitalization of $2.81 billion, a PE ratio of 31.77 and a beta of 1.41. INC Research Holdings, Inc. has a 12-month low of $40.65 and a 12-month high of $61.10. The company has a 50 day moving average price of $56.00 and a 200-day moving average price of $52.66.
INC Research Holdings (NASDAQ:INCR) last announced its earnings results on Thursday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.64. INC Research Holdings had a return on equity of 40.69% and a net margin of 5.69%. The firm had revenue of $258.10 million during the quarter, compared to analyst estimates of $256.76 million. During the same quarter in the prior year, the company earned $0.61 EPS. The business’s revenue was down .3% compared to the same quarter last year. On average, analysts anticipate that INC Research Holdings, Inc. will post $2.62 EPS for the current year.
Several brokerages recently commented on INCR. Mizuho began coverage on INC Research Holdings in a research report on Thursday. They issued a “neutral” rating and a $57.00 target price for the company. William Blair cut INC Research Holdings from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 20th. Jefferies Group LLC reissued a “buy” rating and set a $62.00 price objective on shares of INC Research Holdings in a report on Friday, June 16th. TheStreet cut INC Research Holdings from a “b” rating to a “c” rating in a report on Friday, July 28th. Finally, SunTrust Banks, Inc. raised INC Research Holdings from a “hold” rating to a “buy” rating and lifted their price objective for the company from $48.00 to $67.00 in a report on Wednesday, May 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $62.94.
INC Research Holdings Company Profile
INC Research Holdings, Inc is a global contract research organization (CRO). The Company focuses 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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