Otter Creek Advisors LLC Decreases Stock Position in IQVIA Holdings Inc. (NYSE:IQV)

Otter Creek Advisors LLC cut its holdings in IQVIA Holdings Inc. (NYSE:IQV) by 82.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,454 shares of the medical research company’s stock after selling 6,626 shares during the period. Otter Creek Advisors LLC’s holdings in IQVIA were worth $345,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IQV. PGGM Investments increased its position in shares of IQVIA by 55.8% during the second quarter. PGGM Investments now owns 12,073 shares of the medical research company’s stock worth $2,553,000 after purchasing an additional 4,326 shares in the last quarter. Simplify Asset Management Inc. increased its position in IQVIA by 67.8% in the 3rd quarter. Simplify Asset Management Inc. now owns 9,637 shares of the medical research company’s stock valued at $2,284,000 after acquiring an additional 3,894 shares during the period. Quadrature Capital Ltd acquired a new position in IQVIA in the 1st quarter valued at about $3,365,000. Raymond James & Associates boosted its holdings in IQVIA by 0.7% in the 2nd quarter. Raymond James & Associates now owns 800,374 shares of the medical research company’s stock valued at $169,231,000 after purchasing an additional 5,417 shares in the last quarter. Finally, Versor Investments LP purchased a new stake in IQVIA in the 3rd quarter valued at approximately $1,328,000. 89.62% of the stock is currently owned by institutional investors and hedge funds.

IQVIA Stock Up 1.6 %

Shares of IQVIA stock opened at $197.57 on Friday. The company has a fifty day moving average price of $223.40 and a 200 day moving average price of $227.35. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.76. IQVIA Holdings Inc. has a twelve month low of $187.62 and a twelve month high of $261.73. The stock has a market cap of $35.86 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 1.97 and a beta of 1.51.

Analyst Upgrades and Downgrades

IQV has been the topic of a number of analyst reports. TD Cowen lowered their price objective on IQVIA from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, November 1st. The Goldman Sachs Group decreased their price target on IQVIA from $280.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Robert W. Baird decreased their price target on IQVIA from $256.00 to $223.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Truist Financial decreased their price target on IQVIA from $286.00 to $265.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Leerink Partners restated an “outperform” rating and set a $248.00 price objective (down from $260.00) on shares of IQVIA in a research report on Tuesday. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IQVIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.50.

Insider Buying and Selling

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total value of $320,229.00. Following the completion of the transaction, the insider now directly owns 19,536 shares of the company’s stock, valued at $4,812,302.88. This represents a 6.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is owned by corporate insiders.

IQVIA 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.