Heritage Investors Management Corp cut its holdings in IQVIA Holdings Inc. (NYSE:IQV – Free Report) by 9.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 100,458 shares of the medical research company’s stock after selling 10,586 shares during the period. Heritage Investors Management Corp’s holdings in IQVIA were worth $27,008,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in IQV. BlackRock Inc. purchased a new stake in shares of IQVIA during the 2nd quarter worth about $2,811,292,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in IQVIA by 9.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,634,264 shares of the medical research company’s stock valued at $315,772,000 after purchasing an additional 134,997 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of IQVIA by 4.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,657,696 shares of the medical research company’s stock worth $282,657,000 after purchasing an additional 66,643 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of IQVIA during the 2nd quarter valued at about $240,911,000. Finally, Bank of America Corp DE bought a new stake in shares of IQVIA during the second quarter valued at approximately $235,551,000. 89.62% of the stock is currently owned by institutional investors.
Insider Activity
In other IQVIA news, insider James G. Berkshire sold 2,668 shares of IQVIA stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $261.33, for a total value of $697,228.44. Following the sale, the insider owned 10,890 shares of the company’s stock, valued at $2,845,883.70. This trade represents a 19.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.70% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on IQV. Wall Street Zen raised IQVIA from a “hold” rating to a “buy” rating in a report on Saturday, September 12th. Truist Financial upped their price objective on shares of IQVIA from $329.00 to $346.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley boosted their price target on IQVIA from $240.00 to $270.00 and gave the company an “equal weight” rating in a research note on Thursday, September 17th. Mizuho upped their price objective on shares of IQVIA from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, October 7th. Finally, BMO Capital Markets lifted their price target on IQVIA from $270.00 to $305.00 in a research report on Monday, October 19th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $294.21.
IQVIA Stock Down 0.1%
IQVIA stock opened at $266.93 on Monday. The company has a 50 day moving average of $266.22 and a 200-day moving average of $210.41. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 2.18. IQVIA Holdings Inc. has a twelve month low of $154.50 and a twelve month high of $284.50. The stock has a market capitalization of $43.99 billion, a PE ratio of 32.43, a price-to-earnings-growth ratio of 2.38 and a beta of 1.16.
IQVIA (NYSE:IQV – Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The medical research company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.08. The business had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.37 billion. IQVIA had a net margin of 8.05% and a return on equity of 30.02%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the business posted $3.00 earnings per share. On average, equities research analysts anticipate that IQVIA Holdings Inc. will post 11.53 EPS for the current fiscal year.
IQVIA Profile
IQVIA Holdings Inc is a global provider of technology, analytics and contract research services for the life sciences industry. The company helps pharmaceutical, biotechnology and medical device organizations develop, commercialize and improve products by combining healthcare data with advanced analytics, consulting and technology-enabled services.
Its offerings include clinical research and trial management, real-world evidence, healthcare data and analytics, regulatory and safety services, technology platforms, and commercial solutions.
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