Investment Research & Advisory Group Inc. Increases Position in IQVIA Holdings Inc. (NYSE:IQV)

Investment Research & Advisory Group Inc. increased its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 1.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,843 shares of the medical research company’s stock after purchasing an additional 328 shares during the quarter. IQVIA makes up 1.8% of Investment Research & Advisory Group Inc.’s holdings, making the stock its 14th largest position. Investment Research & Advisory Group Inc.’s holdings in IQVIA were worth $4,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board lifted its holdings in shares of IQVIA by 6.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,403,488 shares of the medical research company’s stock valued at $719,634,000 after purchasing an additional 211,653 shares during the last quarter. Lazard Asset Management LLC raised its stake in IQVIA by 0.9% in the first quarter. Lazard Asset Management LLC now owns 3,263,944 shares of the medical research company’s stock valued at $825,416,000 after buying an additional 30,014 shares during the last quarter. Farallon Capital Management LLC boosted its holdings in IQVIA by 3.1% in the second quarter. Farallon Capital Management LLC now owns 2,923,032 shares of the medical research company’s stock worth $618,046,000 after acquiring an additional 86,870 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of IQVIA by 3.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,510,685 shares of the medical research company’s stock valued at $634,927,000 after acquiring an additional 92,293 shares in the last quarter. Finally, Capital Research Global Investors raised its position in shares of IQVIA by 7.2% in the 1st quarter. Capital Research Global Investors now owns 2,138,802 shares of the medical research company’s stock valued at $540,882,000 after purchasing an additional 143,533 shares during the last quarter. Hedge funds and other institutional investors own 89.62% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on IQV. Jefferies Financial Group lowered shares of IQVIA from a “buy” rating to a “hold” rating and cut their price target for the company from $266.00 to $242.00 in a research note on Wednesday, July 24th. Argus upgraded IQVIA to a “strong-buy” rating in a research note on Wednesday, July 31st. Barclays dropped their price target on IQVIA from $275.00 to $260.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. Robert W. Baird raised their price objective on IQVIA from $251.00 to $256.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Finally, Royal Bank of Canada assumed coverage on IQVIA in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $275.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $267.27.

Insider Activity at IQVIA

In related news, insider Eric Sherbet sold 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total transaction of $320,229.00. Following the completion of the sale, the insider now directly owns 19,536 shares in the company, valued at approximately $4,812,302.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

IQVIA Trading Down 7.3 %

IQV stock opened at $211.71 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.80. IQVIA Holdings Inc. has a 52-week low of $167.42 and a 52-week high of $261.73. The company’s 50-day simple moving average is $238.71 and its 200-day simple moving average is $230.92. The firm has a market cap of $38.59 billion, a P/E ratio of 27.49, a PEG ratio of 2.22 and a beta of 1.49.

IQVIA (NYSE:IQV) last released its quarterly earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter last year, the company earned $2.22 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities analysts forecast that IQVIA Holdings Inc. will post 10.25 EPS for the current fiscal year.

IQVIA Company 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.