Sumitomo Mitsui DS Asset Management Company Ltd Grows Position in IQVIA Holdings Inc. (NYSE:IQV)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in IQVIA Holdings Inc. (NYSE:IQV) by 4.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 48,826 shares of the medical research company’s stock after buying an additional 1,931 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in IQVIA were worth $11,570,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc raised its stake in shares of IQVIA by 733.3% during the 2nd quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock worth $26,000 after purchasing an additional 110 shares during the period. Opal Wealth Advisors LLC bought a new stake in IQVIA in the 2nd quarter valued at about $27,000. Park Place Capital Corp bought a new stake in IQVIA in the 3rd quarter valued at about $28,000. Itau Unibanco Holding S.A. bought a new stake in IQVIA in the 2nd quarter valued at about $29,000. Finally, Riverview Trust Co bought a new stake in IQVIA in the 1st quarter valued at about $32,000. 89.62% of the stock is currently owned by institutional investors.

IQVIA Stock Up 1.2 %

Shares of IQV opened at $236.61 on Friday. The firm has a market cap of $43.13 billion, a P/E ratio of 30.73, a P/E/G ratio of 2.22 and a beta of 1.49. The stock has a 50 day simple moving average of $239.08 and a two-hundred day simple moving average of $231.26. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.85 and a quick ratio of 0.85. IQVIA Holdings Inc. has a 1 year low of $167.42 and a 1 year high of $261.73.

IQVIA (NYSE:IQV) last issued its earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.07. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.79 billion. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. IQVIA’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.22 earnings per share. On average, analysts forecast that IQVIA Holdings Inc. will post 10.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IQV has been the topic of a number of research reports. Robert W. Baird boosted their price objective on IQVIA from $251.00 to $256.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Redburn Atlantic started coverage on IQVIA in a report on Monday, October 14th. They set a “buy” rating and a $276.00 target price for the company. Argus raised IQVIA to a “strong-buy” rating in a report on Wednesday, July 31st. Evercore ISI reduced their target price on IQVIA from $270.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Finally, Barclays reduced their target price on IQVIA from $275.00 to $260.00 and set an “overweight” rating for the company in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, IQVIA has a consensus rating of “Moderate Buy” and a consensus price target of $267.87.

Insider Buying and Selling at IQVIA

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total value of $320,229.00. Following the completion of the sale, the insider now owns 19,536 shares in the company, valued at approximately $4,812,302.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

IQVIA Company Profile

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.