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.