INC Research Holdings, Inc. (INCR) Stake Lifted by Highbridge Capital Management LLC

Highbridge Capital Management LLC lifted its holdings in shares of INC Research Holdings, Inc. (NASDAQ:INCR) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,299 shares of the company’s stock after purchasing an additional 4,938 shares during the quarter. Highbridge Capital Management LLC owned 0.12% of INC Research worth $6,448,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Jane Street Group LLC purchased a new position in shares of INC Research during the third quarter worth about $737,000. Cornerstone Capital Management Holdings LLC. grew its holdings in shares of INC Research by 6.7% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 88,900 shares of the company’s stock worth $4,648,000 after purchasing an additional 5,600 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of INC Research by 5.2% during the third quarter. Allianz Asset Management GmbH now owns 29,366 shares of the company’s stock worth $1,536,000 after purchasing an additional 1,442 shares in the last quarter. OxFORD Asset Management LLP grew its holdings in shares of INC Research by 45.0% during the third quarter. OxFORD Asset Management LLP now owns 81,398 shares of the company’s stock worth $4,282,000 after purchasing an additional 25,252 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in shares of INC Research by 47.8% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 137,286 shares of the company’s stock worth $7,180,000 after purchasing an additional 44,400 shares in the last quarter. 99.56% of the stock is owned by institutional investors.

Shares of INC Research Holdings, Inc. (NASDAQ:INCR) opened at $41.05 on Tuesday. The firm has a market capitalization of $4,126.85, a P/E ratio of 18.14, a PEG ratio of 1.25 and a beta of 1.08. INC Research Holdings, Inc. has a 52 week low of $33.60 and a 52 week high of $61.10. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.27 and a current ratio of 1.27.

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

Several analysts have issued reports on the company. Barclays assumed coverage on INC Research in a research note on Monday. They issued an “equal weight” rating and a $40.00 target price for the company. BidaskClub raised INC Research from a “sell” rating to a “hold” rating in a research note on Thursday, December 7th. Mizuho set a $41.00 target price on INC Research and gave the stock a “neutral” rating in a research note on Friday, December 1st. Zacks Investment Research lowered INC Research from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, SunTrust Banks cut their target price on INC Research to $50.00 and set a “buy” rating for the company in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $51.40.

In related news, CAO Christopher L. Gaenzle sold 4,682 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $54.56, for a total transaction of $255,449.92. Following the completion of the transaction, the chief accounting officer now owns 60,579 shares in the company, valued at $3,305,190.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Gregory S. Rush sold 9,703 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $54.48, for a total value of $528,619.44. Following the transaction, the chief financial officer now owns 78,593 shares of the company’s stock, valued at approximately $4,281,746.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,733 shares of company stock valued at $912,270. Insiders own 0.24% of the company’s stock.

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About INC Research

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

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