State Board of Administration of Florida Retirement System boosted its holdings in Iqvia Holdings Inc (NYSE:IQV) by 3.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 229,477 shares of the medical research company’s stock after acquiring an additional 8,046 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.12% of Iqvia worth $36,923,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Iqvia by 10.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,458,539 shares of the medical research company’s stock worth $169,413,000 after purchasing an additional 136,768 shares during the period. Geode Capital Management LLC boosted its stake in Iqvia by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 2,130,570 shares of the medical research company’s stock worth $247,087,000 after purchasing an additional 164,811 shares during the period. Pennsylvania Trust Co acquired a new stake in Iqvia during the 1st quarter worth $1,733,000. Winslow Evans & Crocker Inc. boosted its stake in Iqvia by 95.2% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 2,050 shares of the medical research company’s stock worth $296,000 after purchasing an additional 1,000 shares during the period. Finally, Conning Inc. boosted its stake in Iqvia by 3.6% during the 1st quarter. Conning Inc. now owns 2,600 shares of the medical research company’s stock worth $374,000 after purchasing an additional 90 shares during the period. 90.86% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on IQV. Barclays set a $180.00 price target on shares of Iqvia and gave the stock a “buy” rating in a research note on Monday, July 15th. Zacks Investment Research upgraded shares of Iqvia from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Mizuho upgraded shares of Iqvia from a “neutral” rating to a “buy” rating and raised their target price for the stock from $150.00 to $175.00 in a research note on Friday, June 21st. SunTrust Banks raised their target price on shares of Iqvia from $155.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, Credit Suisse Group raised their target price on shares of Iqvia from $165.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Iqvia currently has a consensus rating of “Buy” and a consensus price target of $161.13.
Shares of NYSE IQV traded down $0.18 during midday trading on Thursday, reaching $157.01. 3,679 shares of the stock were exchanged, compared to its average volume of 1,123,575. The company has a market capitalization of $30.70 billion, a P/E ratio of 30.71, a P/E/G ratio of 1.91 and a beta of 0.88. Iqvia Holdings Inc has a 52-week low of $104.90 and a 52-week high of $164.13. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.72. The stock has a 50 day moving average price of $157.36 and a 200-day moving average price of $144.52.
Iqvia (NYSE:IQV) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.70 billion. Iqvia had a net margin of 2.31% and a return on equity of 15.95%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.29 earnings per share. On average, analysts forecast that Iqvia Holdings Inc will post 5.87 earnings per share for the current year.
In related news, insider Ari Bousbib sold 96,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $160.00, for a total value of $15,360,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin C. Knightly sold 6,945 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $158.53, for a total transaction of $1,100,990.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,945 shares of company stock valued at $30,860,991. Insiders own 6.00% of the company’s stock.
IQVIA Holdings Inc provides advanced analytics, technology solutions, and contract 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.
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