Sumitomo Mitsui Trust Group Inc. lowered its stake in IQVIA Holdings Inc. (NYSE:IQV – Free Report) by 5.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 782,835 shares of the medical research company’s stock after selling 48,991 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.48% of IQVIA worth $210,465,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in IQV. BlackRock Inc. purchased a new stake in IQVIA during the 2nd quarter worth about $2,811,292,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of IQVIA by 9.0% during the second 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 buying an additional 134,997 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of IQVIA by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,657,696 shares of the medical research company’s stock valued at $282,657,000 after buying an additional 66,643 shares during the period. Canada Pension Plan Investment Board acquired a new stake in IQVIA during the second quarter worth approximately $240,911,000. Finally, Bank of America Corp DE purchased a new stake in IQVIA in the 2nd quarter worth approximately $235,551,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at IQVIA
In other IQVIA news, insider James G. Berkshire sold 2,668 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $261.33, for a total transaction of $697,228.44. Following the sale, the insider directly owned 10,890 shares in the company, valued at approximately $2,845,883.70. This trade represents a 19.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.70% of the stock is owned by corporate insiders.
IQVIA Stock Down 0.1%
Shares of IQV stock opened at $266.93 on Monday. The stock 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. The firm has a market cap 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 Holdings Inc. has a 12 month low of $154.50 and a 12 month high of $284.50.
IQVIA (NYSE:IQV – Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $4.37 billion. IQVIA had a net margin of 8.05% and a return on equity of 30.02%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.00 earnings per share. On average, equities analysts predict that IQVIA Holdings Inc. will post 11.53 EPS for the current year.
Analysts Set New Price Targets
A number of brokerages have weighed in on IQV. HSBC increased their price target on IQVIA from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, September 1st. Weiss Ratings cut shares of IQVIA from a “hold (c+)” rating to a “sell (d+)” rating in a research report on Wednesday. Jefferies Financial Group increased their target price on IQVIA from $220.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Evercore upped their price target on IQVIA from $275.00 to $290.00 and gave the company an “outperform” rating in a research report on Tuesday, October 6th. Finally, Royal Bank Of Canada increased their price target on IQVIA from $247.00 to $319.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 29th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $294.21.
Get Our Latest Analysis on IQV
About IQVIA
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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