Whittier Trust Co. Acquires 9,416 Shares of IQVIA Holdings Inc. $IQV

Whittier Trust Co. boosted its holdings in IQVIA Holdings Inc. (NYSE:IQV) by 7.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,359 shares of the medical research company’s stock after purchasing an additional 9,416 shares during the period. Whittier Trust Co. owned approximately 0.08% of IQVIA worth $20,700,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in shares of IQVIA by 244.4% during the fourth quarter. Brighton Jones LLC now owns 3,575 shares of the medical research company’s stock valued at $703,000 after acquiring an additional 2,537 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of IQVIA by 56.3% during the first quarter. GAMMA Investing LLC now owns 2,197 shares of the medical research company’s stock valued at $387,000 after acquiring an additional 791 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of IQVIA by 34.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,259 shares of the medical research company’s stock valued at $2,338,000 after acquiring an additional 3,398 shares during the last quarter. Kentucky Retirement Systems raised its stake in shares of IQVIA by 3.4% during the first quarter. Kentucky Retirement Systems now owns 12,305 shares of the medical research company’s stock valued at $2,169,000 after acquiring an additional 404 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of IQVIA during the first quarter valued at about $924,000. 89.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on IQV shares. HSBC raised shares of IQVIA from a “hold” rating to a “buy” rating and upped their price objective for the company from $195.00 to $235.00 in a research note on Thursday, October 9th. Hsbc Global Res raised shares of IQVIA from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. Cowen reissued a “buy” rating on shares of IQVIA in a research note on Wednesday, July 23rd. Truist Financial increased their price target on shares of IQVIA from $209.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Finally, Mizuho increased their price target on shares of IQVIA from $190.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, IQVIA currently has an average rating of “Moderate Buy” and a consensus price target of $234.57.

IQVIA Price Performance

Shares of NYSE IQV opened at $212.30 on Tuesday. IQVIA Holdings Inc. has a fifty-two week low of $134.65 and a fifty-two week high of $235.32. The company has a 50 day simple moving average of $192.05 and a two-hundred day simple moving average of $169.60. The company has a market capitalization of $36.09 billion, a price-to-earnings ratio of 30.72, a P/E/G ratio of 2.25 and a beta of 1.32. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.84 and a current ratio of 0.84.

IQVIA (NYSE:IQV) last announced its earnings results on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.04. IQVIA had a net margin of 7.88% and a return on equity of 30.05%. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter last year, the firm earned $2.64 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts expect that IQVIA Holdings Inc. will post 10.84 EPS for the current fiscal year.

Insider Buying and Selling

In other IQVIA news, insider Eric Sherbet sold 5,800 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $190.05, for a total transaction of $1,102,290.00. Following the completion of the transaction, the insider owned 27,178 shares of the company’s stock, valued at approximately $5,165,178.90. This trade represents a 17.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Keriann Cherofsky sold 549 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $191.53, for a total transaction of $105,149.97. Following the transaction, the insider directly owned 2,910 shares of the company’s stock, valued at $557,352.30. This represents a 15.87% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

About IQVIA

IQVIA Holdings Inc engages in the provision of advanced analytics, technology solutions, and clinical research services to the life sciences industry in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions.