Trading Report: Today, INC Research Holdings Inc. (INCR) Decreased to Hold at The Zacks Investment Research

Today, INC Research Holdings Inc. (INCR) Decreased to Hold at The Zacks Investment Research

Zacks Investment Research cut shares of INC Research Holdings Inc. (NASDAQ:INCR) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “INC Research Holdings, Inc. is a global contract research organization. It provides the full range of Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. Its services include clinical trial management services comprising patient recruitment and retention, project management, clinical monitoring, drug safety/pharmacovigilance, medical affairs, quality assurance, regulatory and medical writing, and functional service; and data services consisting of clinical data management, electronic data capture, and biostatistics. INC Research Holdings, Inc. is headquartered in Raleigh, North Carolina. “

A number of other equities analysts also recently issued reports on the company. Jefferies Group reaffirmed a buy rating and set a $56.00 price target on shares of INC Research Holdings in a research report on Tuesday, November 1st. Goldman Sachs Group Inc. reaffirmed a conviction-buy rating and set a $82.00 price target on shares of INC Research Holdings in a research report on Thursday, September 8th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. INC Research Holdings has an average rating of Buy and a consensus target price of $55.86.

INC Research Holdings (NASDAQ:INCR) opened at 50.00 on Wednesday. The company’s 50-day moving average price is $47.26 and its 200 day moving average price is $44.06. The stock has a market capitalization of $2.68 billion, a P/E ratio of 26.54 and a beta of 1.78. INC Research Holdings has a 52-week low of $34.19 and a 52-week high of $57.11.

INC Research Holdings (NASDAQ:INCR) last issued its quarterly earnings results on Monday, October 31st. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. The business had revenue of $259.56 million for the quarter, compared to the consensus estimate of $259.89 million. INC Research Holdings had a return on equity of 49.42% and a net margin of 6.58%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 earnings per share. On average, equities research analysts predict that INC Research Holdings will post $2.50 earnings per share for the current fiscal year.

In other INC Research Holdings news, CAO Christopher L. Gaenzle sold 4,734 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $43.14, for a total transaction of $204,224.76. Following the sale, the chief accounting officer now directly owns 19,252 shares of the company’s stock, valued at approximately $830,531.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gregory S. Rush sold 35,503 shares of the stock in a transaction dated 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 directly owns 82,712 shares in the company, valued at $3,697,226.40. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in INCR. Rational Advisors LLC bought a new stake in shares of INC Research Holdings during the second quarter valued at $109,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of INC Research Holdings by 302.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,052 shares of the company’s stock valued at $116,000 after buying an additional 2,294 shares in the last quarter. Crow Point Partners LLC bought a new stake in shares of INC Research Holdings during the third quarter valued at $116,000. Acrospire Investment Management LLC increased its stake in shares of INC Research Holdings by 10.5% in the second quarter. Acrospire Investment Management LLC now owns 3,150 shares of the company’s stock valued at $120,000 after buying an additional 300 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of INC Research Holdings during the third quarter valued at $138,000. 97.87% of the stock is currently owned by institutional investors.

INC Research Holdings Company Profile

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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