Legal & General Group Plc Grows Stake in INC Research Holdings Inc (INCR)

Legal & General Group Plc lifted its position in shares of INC Research Holdings Inc (NASDAQ:INCR) by 13.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,376 shares of the company’s stock after buying an additional 5,548 shares during the quarter. Legal & General Group Plc’s holdings in INC Research were worth $2,478,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in INC Research by 14.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,765 shares of the company’s stock valued at $103,000 after purchasing an additional 228 shares during the last quarter. Pacad Investment Ltd. acquired a new position in INC Research in the 2nd quarter valued at about $123,000. Riverhead Capital Management LLC acquired a new position in INC Research in the 2nd quarter valued at about $128,000. Victory Capital Management Inc. raised its stake in INC Research by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,377 shares of the company’s stock valued at $139,000 after purchasing an additional 356 shares during the last quarter. Finally, Personal Capital Advisors Corp acquired a new position in INC Research in the 3rd quarter valued at about $234,000. 99.50% of the stock is owned by institutional investors and hedge funds.

INC Research Holdings Inc (NASDAQ INCR) opened at $43.25 on Thursday. INC Research Holdings Inc has a one year low of $33.60 and a one year high of $61.10. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.99. The company has a market cap of $4,500.00, a PE ratio of -75.88, a PEG ratio of 1.35 and a beta of 1.08.

INC Research (NASDAQ:INCR) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.09). INC Research had a negative net margin of 4.29% and a positive return on equity of 14.42%. The company had revenue of $592.21 million for the quarter, compared to analyst estimates of $604.95 million. During the same period in the prior year, the company earned $0.64 EPS. The company’s revenue was up 128.2% compared to the same quarter last year. sell-side analysts forecast that INC Research Holdings Inc will post 2.15 earnings per share for the current year.

INCR has been the subject of several analyst reports. Zacks Investment Research downgraded shares of INC Research from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 16th. Jefferies Group reissued a “buy” rating and issued a $55.00 target price on shares of INC Research in a research note on Friday, November 10th. Credit Suisse Group cut their target price on shares of INC Research from $68.00 to $54.00 and set an “outperform” rating for the company in a research note on Tuesday, November 14th. KeyCorp reissued a “market perform” rating and issued a $46.00 target price (down previously from $68.00) on shares of INC Research in a research note on Monday, November 13th. Finally, Robert W. Baird set a $46.00 target price on shares of INC Research and gave the company a “buy” rating in a research note on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $50.56.

COPYRIGHT VIOLATION WARNING: This news story was originally published by Week Herald and is the sole property of of Week Herald. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright law. The original version of this news story can be read at https://weekherald.com/2017/12/28/legal-general-group-plc-grows-stake-in-inc-research-holdings-inc-incr.html.

INC Research 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.

Want to see what other hedge funds are holding INCR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for INC Research Holdings Inc (NASDAQ:INCR).

Institutional Ownership by Quarter for INC Research (NASDAQ:INCR)

Receive News & Ratings for INC Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for INC Research and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply