Eminence Capital LP Sells 817,177 Shares of Iqvia Holdings Inc (NYSE:IQV)

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Eminence Capital LP cut its stake in Iqvia Holdings Inc (NYSE:IQV) by 38.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,317,951 shares of the medical research company’s stock after selling 817,177 shares during the quarter. Iqvia comprises approximately 2.8% of Eminence Capital LP’s holdings, making the stock its 11th largest holding. Eminence Capital LP owned approximately 0.67% of Iqvia worth $212,058,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of IQV. Investec Asset Management LTD bought a new stake in shares of Iqvia during the second quarter worth $340,389,000. Egerton Capital UK LLP bought a new stake in shares of Iqvia in the second quarter valued at about $224,093,000. BlackRock Inc. raised its holdings in shares of Iqvia by 12.0% in the first quarter. BlackRock Inc. now owns 12,290,692 shares of the medical research company’s stock valued at $1,768,016,000 after acquiring an additional 1,313,508 shares in the last quarter. FMR LLC raised its holdings in shares of Iqvia by 27.5% in the first quarter. FMR LLC now owns 5,376,239 shares of the medical research company’s stock valued at $773,372,000 after acquiring an additional 1,158,248 shares in the last quarter. Finally, Putnam Investments LLC raised its holdings in shares of Iqvia by 53,072.7% in the second quarter. Putnam Investments LLC now owns 782,171 shares of the medical research company’s stock valued at $125,851,000 after acquiring an additional 780,700 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

IQV has been the subject of several recent research reports. William Blair restated an “outperform” rating on shares of Iqvia in a report on Wednesday, June 19th. Credit Suisse Group lifted their target price on Iqvia from $165.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Co lifted their target price on Iqvia from $170.00 to $178.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Morgan Stanley lifted their target price on Iqvia from $156.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, June 19th. Finally, Barclays set a $180.00 target price on Iqvia and gave the company a “buy” rating in a research note on Monday, July 15th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Iqvia presently has a consensus rating of “Buy” and a consensus price target of $162.08.

Shares of IQV stock traded up $1.03 during trading hours on Thursday, hitting $154.47. 114,603 shares of the company’s stock were exchanged, compared to its average volume of 1,109,666. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.72. The firm has a market cap of $29.55 billion, a P/E ratio of 30.17, a P/E/G ratio of 1.83 and a beta of 0.90. The firm has a 50 day moving average of $154.56 and a two-hundred day moving average of $146.81. Iqvia Holdings Inc has a fifty-two week low of $104.90 and a fifty-two week high of $164.13.

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 the Thomson Reuters’ consensus estimate of $1.38 by $0.01. Iqvia had a return on equity of 15.95% and a net margin of 2.31%. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the previous year, the business earned $1.29 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities analysts forecast that Iqvia Holdings Inc will post 5.88 earnings per share for the current fiscal year.

In other news, insider Kevin C. Knightly sold 6,945 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $158.53, for a total transaction of $1,100,990.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ari Bousbib sold 96,000 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $160.00, for a total value of $15,360,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,723,251 shares of company stock valued at $427,463,046. 6.00% of the stock is owned by company insiders.

About Iqvia

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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Institutional Ownership by Quarter for Iqvia (NYSE:IQV)

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