IQVIA Holdings Inc. $IQV Stock Sold by Heritage Investors Management Corp

Heritage Investors Management Corp cut its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 9.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,458 shares of the medical research company’s stock after selling 10,586 shares during the quarter. Heritage Investors Management Corp owned about 0.06% of IQVIA worth $27,008,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of IQVIA during the second quarter worth $2,811,292,000. Canada Pension Plan Investment Board acquired a new position in IQVIA during the second quarter worth $240,911,000. Bank of America Corp DE purchased a new position in IQVIA during the second quarter worth $235,551,000. Legal & General Group Plc acquired a new position in IQVIA in the 2nd quarter valued at $211,342,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of IQVIA in the second quarter worth approximately $180,296,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.

Insider Activity at IQVIA

In other news, insider James G. Berkshire sold 2,668 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $261.33, for a total transaction of $697,228.44. Following the sale, the insider directly owned 10,890 shares in the company, valued at approximately $2,845,883.70. The trade was a 19.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IQV. Barclays raised their price objective on IQVIA from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Mizuho raised their price target on shares of IQVIA from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, October 7th. Robert W. Baird increased their target price on shares of IQVIA from $324.00 to $328.00 and gave the company an “outperform” rating in a research report on Tuesday, October 27th. UBS Group began coverage on shares of IQVIA in a research note on Wednesday, September 30th. They issued a “buy” rating and a $345.00 price objective on the stock. Finally, Rothschild & Co Redburn boosted their price objective on IQVIA from $284.00 to $287.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $294.21.

IQVIA Price Performance

IQV opened at $266.93 on Monday. The company has a fifty day simple moving average of $266.22 and a 200 day simple moving average of $210.41. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 2.18. The stock has a market cap 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. IQVIA Holdings Inc. has a 12 month low of $154.50 and a 12 month high of $284.50.

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

IQVIA Profile

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.