Quintiles Transnational Holdings Inc (Q) Lowered to Market Perform at Avondale Partners

Quintiles Transnational Holdings Inc (Q) Lowered to Market Perform at Avondale Partners

Quintiles Transnational Holdings Inc (NYSE:Q) was downgraded by stock analysts at Avondale Partners from a “market outperform” rating to a “market perform” rating in a note issued to investors on Tuesday, Analyst Ratings Net reports. They presently have a $62.00 target price on the stock, up from their previous target price of $58.00. Avondale Partners’ price target points to a potential downside of 7.50% from the company’s previous close.

Shares of Quintiles Transnational Holdings (NYSE:Q) traded up 0.57% during midday trading on Tuesday, reaching $67.41. The company had a trading volume of 391,477 shares. The stock has a market capitalization of $8.05 billion and a price-to-earnings ratio of 21.89. The firm’s 50 day moving average price is $67.97 and its 200-day moving average price is $66.04. Quintiles Transnational Holdings has a 1-year low of $55.01 and a 1-year high of $80.45.

Quintiles Transnational Holdings (NYSE:Q) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.03. During the same quarter last year, the firm posted $0.72 earnings per share. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Quintiles Transnational Holdings’s quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts expect that Quintiles Transnational Holdings will post $3.78 EPS for the current fiscal year.

In other news, COO Kevin K. Gordon sold 24,000 shares of the stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $69.44, for a total value of $1,666,560.00. Following the sale, the chief operating officer now directly owns 41,899 shares in the company, valued at $2,909,466.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Kevin K. Gordon sold 3,639 shares of the stock in a transaction on Tuesday, March 22nd. The shares were sold at an average price of $65.01, for a total value of $236,571.39. Following the completion of the sale, the chief operating officer now owns 21,538 shares in the company, valued at $1,400,185.38. The disclosure for this sale can be found here.

Other equities research analysts have also issued reports about the company. SunTrust lowered Quintiles Transnational Holdings from a “buy” rating to a “neutral” rating and set a $73.00 price target for the company. in a research report on Monday, March 28th. Zacks Investment Research restated a “buy” rating and issued a $71.00 price target on shares of Quintiles Transnational Holdings in a research report on Monday, February 1st. Deutsche Bank upgraded Quintiles Transnational Holdings from a “hold” rating to a “buy” rating and dropped their price target for the company from $78.00 to $71.00 in a research report on Friday, February 12th. Finally, KeyBanc dropped their price target on Quintiles Transnational Holdings from $89.00 to $82.00 in a research report on Tuesday, February 16th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $78.32.

Several hedge funds recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Quintiles Transnational Holdings during the fourth quarter valued at about $51,461,000. Chartwell Investment Partners LLC bought a new stake in shares of Quintiles Transnational Holdings during the fourth quarter valued at about $46,353,000. Wells Fargo & Company MN boosted its stake in shares of Quintiles Transnational Holdings by 26.1% in the fourth quarter. Wells Fargo & Company MN now owns 2,471,737 shares of the company’s stock valued at $169,709,000 after buying an additional 511,410 shares during the last quarter. Morgan Stanley boosted its stake in shares of Quintiles Transnational Holdings by 53.2% in the fourth quarter. Morgan Stanley now owns 1,279,775 shares of the company’s stock valued at $87,870,000 after buying an additional 444,466 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Quintiles Transnational Holdings during the fourth quarter valued at about $28,590,000.

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