United Services Automobile Association trimmed its holdings in shares of Iqvia Holdings Inc (NYSE:IQV) by 4.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,638 shares of the medical research company’s stock after selling 2,590 shares during the period. United Services Automobile Association’s holdings in Iqvia were worth $5,654,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Carillon Tower Advisers Inc. increased its stake in shares of Iqvia by 9.2% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 258,241 shares of the medical research company’s stock worth $25,777,000 after purchasing an additional 21,846 shares in the last quarter. Redpoint Investment Management Pty Ltd grew its stake in Iqvia by 25.0% in the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 13,657 shares of the medical research company’s stock worth $1,363,000 after acquiring an additional 2,732 shares during the period. Northern Trust Corp grew its stake in Iqvia by 7.0% in the 2nd quarter. Northern Trust Corp now owns 1,877,470 shares of the medical research company’s stock worth $187,408,000 after acquiring an additional 122,260 shares during the period. Korea Investment CORP grew its stake in Iqvia by 83.1% in the 2nd quarter. Korea Investment CORP now owns 28,651 shares of the medical research company’s stock worth $2,860,000 after acquiring an additional 13,000 shares during the period. Finally, FMR LLC grew its stake in Iqvia by 45.5% in the 2nd quarter. FMR LLC now owns 434,067 shares of the medical research company’s stock worth $43,329,000 after acquiring an additional 135,640 shares during the period. 91.91% of the stock is owned by institutional investors and hedge funds.
Shares of IQV opened at $124.79 on Friday. The firm has a market capitalization of $26.28 billion, a price-to-earnings ratio of 28.56, a P/E/G ratio of 1.86 and a beta of 0.70. Iqvia Holdings Inc has a fifty-two week low of $91.57 and a fifty-two week high of $132.24. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.40.
Iqvia (NYSE:IQV) last announced its quarterly earnings results on Tuesday, July 24th. The medical research company reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.15. The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.50 billion. Iqvia had a net margin of 12.68% and a return on equity of 13.51%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Sell-side analysts forecast that Iqvia Holdings Inc will post 5.13 earnings per share for the current fiscal year.
IQV has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed a “$110.25” rating and issued a $128.00 target price on shares of Iqvia in a research note on Thursday, July 19th. ValuEngine raised shares of Iqvia from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. Zacks Investment Research raised shares of Iqvia from a “hold” rating to a “buy” rating and set a $111.00 target price for the company in a research note on Wednesday, July 4th. SunTrust Banks lifted their target price on shares of Iqvia to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Finally, Stifel Nicolaus lifted their price target on shares of Iqvia from $128.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Iqvia currently has an average rating of “Buy” and an average target price of $126.95.
In related news, Director John G. Danhakl sold 370,470 shares of Iqvia stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $124.83, for a total transaction of $46,245,770.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ari Bousbib sold 368,640 shares of Iqvia stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $122.09, for a total transaction of $45,007,257.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 978,777 shares of company stock worth $121,566,089. 6.00% of the stock is owned by company insiders.
Iqvia Company Profile
IQVIA Holdings Inc provides integrated information and technology-enabled healthcare services in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Commercial Solutions, Research & Development Solutions, and Integrated Engagement Services. The Commercial Solutions segment offers a range of cloud-based applications and related implementation, real-world insights, and reference information services; and strategic and implementation consulting services, such as advanced analytics and commercial processes outsourcing services.
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