Forsta AP Fonden Cuts Position in IQVIA Holdings Inc. (NYSE:IQV)

Forsta AP Fonden lessened its holdings in IQVIA Holdings Inc. (NYSE:IQV) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,400 shares of the medical research company’s stock after selling 2,900 shares during the period. Forsta AP Fonden’s holdings in IQVIA were worth $6,770,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of IQV. National Bank of Canada FI lifted its holdings in shares of IQVIA by 55.0% in the 1st quarter. National Bank of Canada FI now owns 128,158 shares of the medical research company’s stock valued at $22,594,000 after acquiring an additional 45,490 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of IQVIA by 236.3% in the 1st quarter. Citigroup Inc. now owns 415,420 shares of the medical research company’s stock worth $73,239,000 after purchasing an additional 291,890 shares during the period. Headlands Technologies LLC increased its position in shares of IQVIA by 10.9% during the 1st quarter. Headlands Technologies LLC now owns 1,857 shares of the medical research company’s stock valued at $327,000 after purchasing an additional 182 shares during the last quarter. ASR Vermogensbeheer N.V. purchased a new stake in IQVIA during the 1st quarter valued at $28,162,000. Finally, Primecap Management Co. CA lifted its position in IQVIA by 0.6% in the first quarter. Primecap Management Co. CA now owns 296,879 shares of the medical research company’s stock worth $52,340,000 after buying an additional 1,890 shares during the last quarter. Hedge funds and other institutional investors own 89.62% of the company’s stock.

Analyst Upgrades and Downgrades

IQV has been the topic of a number of analyst reports. Evercore ISI boosted their price objective on shares of IQVIA from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. William Blair reaffirmed an “outperform” rating on shares of IQVIA in a research note on Wednesday, July 23rd. Citigroup reissued a “neutral” rating on shares of IQVIA in a research note on Thursday, May 22nd. Cowen reissued a “buy” rating on shares of IQVIA in a research note on Wednesday, July 23rd. Finally, UBS Group lifted their price objective on shares of IQVIA from $185.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, IQVIA presently has a consensus rating of “Moderate Buy” and an average price target of $228.62.

IQVIA Trading Up 0.6%

Shares of NYSE:IQV opened at $179.98 on Monday. The business has a 50-day moving average price of $166.23 and a 200-day moving average price of $168.94. The stock has a market cap of $30.60 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.97 and a beta of 1.30. IQVIA Holdings Inc. has a 52-week low of $134.65 and a 52-week high of $252.88. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 2.45.

IQVIA (NYSE:IQV) last announced its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.04. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.96 billion. IQVIA had a return on equity of 30.05% and a net margin of 7.88%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $2.64 EPS. Equities analysts predict that IQVIA Holdings Inc. will post 10.84 EPS for the current year.

Insider Buying and Selling

In related news, insider Keriann Cherofsky sold 549 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $191.53, for a total transaction of $105,149.97. Following the sale, the insider directly owned 2,910 shares of the company’s stock, valued at approximately $557,352.30. This represents a 15.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Eric Sherbet sold 5,800 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $190.05, for a total value of $1,102,290.00. Following the transaction, the insider owned 27,178 shares in the company, valued at $5,165,178.90. This represents a 17.59% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

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.