Forsta AP Fonden Lowers Position in IQVIA Holdings Inc. (NYSE:IQV)

Forsta AP Fonden cut its stake in IQVIA Holdings Inc. (NYSE:IQV) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,600 shares of the medical research company’s stock after selling 3,100 shares during the period. Forsta AP Fonden’s holdings in IQVIA were worth $12,179,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IQV. Versant Capital Management Inc lifted its holdings in IQVIA by 733.3% in the second quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock worth $26,000 after buying an additional 110 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of IQVIA during the second quarter valued at approximately $27,000. Rise Advisors LLC purchased a new position in shares of IQVIA during the first quarter valued at approximately $31,000. Riverview Trust Co purchased a new position in shares of IQVIA during the first quarter valued at approximately $32,000. Finally, International Assets Investment Management LLC purchased a new position in shares of IQVIA during the second quarter valued at approximately $32,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IQV. Jefferies Financial Group lowered shares of IQVIA from a “buy” rating to a “hold” rating and lowered their target price for the company from $266.00 to $242.00 in a report on Wednesday, July 24th. Robert W. Baird lifted their target price on shares of IQVIA from $235.00 to $251.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Royal Bank of Canada began coverage on shares of IQVIA in a report on Wednesday, September 4th. They set an “outperform” rating and a $275.00 target price for the company. The Goldman Sachs Group began coverage on shares of IQVIA in a research report on Thursday, June 6th. They set a “buy” rating and a $270.00 price target for the company. Finally, Argus raised shares of IQVIA to a “strong-buy” rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $266.67.

Insider Transactions at IQVIA

In other news, insider Eric Sherbet sold 1,300 shares of IQVIA stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total transaction of $320,229.00. Following the transaction, the insider now owns 19,536 shares in the company, valued at approximately $4,812,302.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

IQVIA Trading Up 0.5 %

NYSE:IQV opened at $238.40 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.80. IQVIA Holdings Inc. has a 12 month low of $167.42 and a 12 month high of $261.73. The company has a market cap of $43.46 billion, a PE ratio of 32.57, a price-to-earnings-growth ratio of 2.23 and a beta of 1.49. The company has a 50 day simple moving average of $237.37 and a two-hundred day simple moving average of $234.53.

IQVIA (NYSE:IQV) last posted its earnings results on Monday, July 22nd. The medical research company reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.07. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the firm posted $2.22 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. Research analysts forecast that IQVIA Holdings Inc. will post 10.25 earnings per share for the current year.

IQVIA Profile

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.