8,047 IQVIA Holdings Inc. $IQV Shares Sold by Steinberg Asset Management LLC

Steinberg Asset Management LLC cut its holdings in IQVIA Holdings Inc. (NYSE:IQV) by 31.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,198 shares of the medical research company’s stock after selling 8,047 shares during the quarter. IQVIA comprises approximately 3.0% of Steinberg Asset Management LLC’s portfolio, making the stock its 5th largest holding. Steinberg Asset Management LLC’s holdings in IQVIA were worth $4,624,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in IQV. Pension & Wealth Management Advisors Inc. acquired a new stake in shares of IQVIA during the third quarter worth about $30,000. Compass Financial Management LLC acquired a new position in IQVIA in the 2nd quarter valued at about $27,000. Financial Freedom LLC purchased a new stake in IQVIA during the 1st quarter valued at approximately $25,000. Ascentis Independent Advisors purchased a new stake in IQVIA during the 1st quarter valued at approximately $25,000. Finally, Elevation Wealth Partners LLC lifted its position in IQVIA by 218.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 153 shares of the medical research company’s stock worth $30,000 after acquiring an additional 105 shares during the period. 89.62% of the stock is owned by hedge funds and other institutional investors.

IQVIA Stock Down 0.1%

IQV opened at $266.93 on Monday. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.83 and a quick ratio of 0.83. IQVIA Holdings Inc. has a 12 month low of $154.50 and a 12 month high of $284.50. The stock has a market capitalization of $43.99 billion, a P/E ratio of 32.43, a P/E/G ratio of 2.38 and a beta of 1.16. The business has a 50 day simple moving average of $266.22 and a 200-day simple moving average of $210.41.

IQVIA (NYSE:IQV) last released its quarterly earnings data on Tuesday, October 27th. The medical research company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.08. The firm had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $4.37 billion. IQVIA had a return on equity of 30.02% and a net margin of 8.05%. IQVIA’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.00 earnings per share. On average, equities analysts anticipate that IQVIA Holdings Inc. will post 11.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IQV shares. Royal Bank Of Canada lifted their target price on IQVIA from $247.00 to $319.00 and gave the company an “outperform” rating in a research note on Tuesday, September 29th. Rothschild & Co Redburn upped their price target on IQVIA from $284.00 to $287.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. UBS Group initiated coverage on IQVIA in a report on Wednesday, September 30th. They set a “buy” rating and a $345.00 price target for the company. TD Cowen lifted their price objective on shares of IQVIA from $288.00 to $307.00 and gave the company a “buy” rating in a research report on Thursday. Finally, HSBC boosted their price objective on shares of IQVIA from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, September 1st. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $294.21.

Insider Transactions at IQVIA

In other news, insider James G. Berkshire sold 2,668 shares of IQVIA stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $261.33, for a total transaction of $697,228.44. Following the completion of the sale, the insider directly owned 10,890 shares in the company, valued at approximately $2,845,883.70. This trade represents a 19.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.70% of the company’s stock.

About IQVIA

IQVIA Holdings Inc is a global provider of technology, analytics and contract research services for the life sciences industry. The company helps pharmaceutical, biotechnology and medical device organizations develop, commercialize and improve products by combining healthcare data with advanced analytics, consulting and technology-enabled services.

Its offerings include clinical research and trial management, real-world evidence, healthcare data and analytics, regulatory and safety services, technology platforms, and commercial solutions.