Los Angeles Capital Management LLC Boosts Stake in IQVIA Holdings Inc. (NYSE:IQV)

Los Angeles Capital Management LLC raised its position in IQVIA Holdings Inc. (NYSE:IQV) by 17.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,616 shares of the medical research company’s stock after purchasing an additional 17,677 shares during the quarter. Los Angeles Capital Management LLC owned 0.06% of IQVIA worth $27,445,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in IQVIA during the 4th quarter worth $13,759,000. Schwartz Investment Counsel Inc. increased its position in shares of IQVIA by 4.1% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 178,690 shares of the medical research company’s stock valued at $41,345,000 after acquiring an additional 7,050 shares during the period. Gilliland Jeter Wealth Management LLC purchased a new stake in IQVIA during the 4th quarter valued at about $986,000. Dfpg Investments LLC acquired a new position in shares of IQVIA in the fourth quarter valued at about $1,106,000. Finally, Sei Investments Co. lifted its holdings in shares of IQVIA by 20.2% during the third quarter. Sei Investments Co. now owns 94,748 shares of the medical research company’s stock worth $18,641,000 after purchasing an additional 15,913 shares during the period. 89.62% of the stock is owned by hedge funds and other institutional investors.

IQVIA Price Performance

IQV traded up $1.23 during midday trading on Friday, hitting $223.37. 1,052,929 shares of the company traded hands, compared to its average volume of 831,136. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 2.02. The company has a market capitalization of $40.54 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.15 and a beta of 1.52. IQVIA Holdings Inc. has a 52-week low of $167.42 and a 52-week high of $261.73. The business has a 50 day simple moving average of $244.56 and a two-hundred day simple moving average of $223.84.

IQVIA (NYSE:IQV) last posted its quarterly earnings results on Wednesday, February 14th. The medical research company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.02. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.80 billion. IQVIA had a net margin of 9.01% and a return on equity of 29.17%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the firm posted $2.54 earnings per share. On average, equities analysts forecast that IQVIA Holdings Inc. will post 10.12 earnings per share for the current fiscal year.

Insider Transactions at IQVIA

In other news, insider Ari Bousbib sold 31,678 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $250.53, for a total value of $7,936,289.34. Following the transaction, the insider now directly owns 796,752 shares of the company’s stock, valued at $199,610,278.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other IQVIA news, insider Eric Sherbet sold 1,000 shares of IQVIA stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $241.50, for a total transaction of $241,500.00. Following the transaction, the insider now directly owns 20,836 shares of the company’s stock, valued at $5,031,894. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ari Bousbib sold 31,678 shares of IQVIA stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the transaction, the insider now directly owns 796,752 shares in the company, valued at $199,610,278.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,285 shares of company stock valued at $10,331,003. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. BTIG Research initiated coverage on shares of IQVIA in a research report on Tuesday, February 13th. They set a “buy” rating and a $285.00 price target for the company. Truist Financial cut their price objective on shares of IQVIA from $297.00 to $292.00 and set a “buy” rating on the stock in a research note on Friday. Evercore ISI cut their price objective on shares of IQVIA from $275.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday. SVB Leerink initiated coverage on shares of IQVIA in a research report on Monday, February 26th. They set an “outperform” rating and a $290.00 price target on the stock. Finally, StockNews.com upgraded shares of IQVIA from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $257.57.

About IQVIA

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.