Gateway Investment Advisers LLC reduced its holdings in shares of Iqvia Holdings Inc (NYSE:IQV) by 10.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,101 shares of the medical research company’s stock after selling 724 shares during the period. Gateway Investment Advisers LLC’s holdings in Iqvia were worth $878,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Advisory Services Network LLC grew its position in Iqvia by 37.4% during the fourth quarter. Advisory Services Network LLC now owns 5,825 shares of the medical research company’s stock valued at $677,000 after acquiring an additional 1,587 shares during the last quarter. MUFG Securities EMEA plc grew its position in Iqvia by 2,517.2% during the fourth quarter. MUFG Securities EMEA plc now owns 115,000 shares of the medical research company’s stock valued at $13,360,000 after acquiring an additional 110,606 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its position in Iqvia by 12.3% during the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 36,493 shares of the medical research company’s stock valued at $4,239,000 after acquiring an additional 4,006 shares during the last quarter. DNB Asset Management AS grew its position in Iqvia by 0.3% during the fourth quarter. DNB Asset Management AS now owns 111,722 shares of the medical research company’s stock valued at $12,979,000 after acquiring an additional 300 shares during the last quarter. Finally, Appleton Partners Inc. MA grew its position in Iqvia by 153.7% during the fourth quarter. Appleton Partners Inc. MA now owns 9,665 shares of the medical research company’s stock valued at $1,123,000 after acquiring an additional 5,855 shares during the last quarter. Institutional investors and hedge funds own 91.01% of the company’s stock.
A number of research analysts have commented on the stock. Wolfe Research assumed coverage on shares of Iqvia in a research report on Tuesday, April 2nd. They set a “market perform” rating on the stock. Piper Jaffray Companies increased their price target on shares of Iqvia to $148.00 and gave the company a “neutral” rating in a research report on Friday, February 15th. Barclays increased their price target on shares of Iqvia from $160.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. UBS Group set a $170.00 target price on shares of Iqvia and gave the stock a “buy” rating in a report on Friday, February 15th. Finally, Argus raised their target price on shares of Iqvia from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, February 25th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $146.88.
In related news, insider Ari Bousbib sold 96,000 shares of Iqvia stock in a transaction on Monday, March 25th. The shares were sold at an average price of $140.96, for a total value of $13,532,160.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ronald A. Rittenmeyer sold 3,840 shares of Iqvia stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $130.00, for a total transaction of $499,200.00. The disclosure for this sale can be found here. Insiders sold 4,172,538 shares of company stock worth $587,465,163 in the last 90 days. Company insiders own 6.00% of the company’s stock.
Shares of Iqvia stock opened at $136.29 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.57. Iqvia Holdings Inc has a 52-week low of $91.57 and a 52-week high of $146.10. The company has a market capitalization of $27.91 billion, a PE ratio of 26.62, a PEG ratio of 1.72 and a beta of 0.85.
Iqvia (NYSE:IQV) last issued its earnings results on Thursday, February 14th. The medical research company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.03. Iqvia had a net margin of 2.49% and a return on equity of 14.25%. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter last year, the business earned $1.40 earnings per share. The business’s revenue was up 6.6% on a year-over-year basis. As a group, analysts predict that Iqvia Holdings Inc will post 5.87 EPS for the current year.
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Iqvia Company Profile
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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