Covington Capital Management Acquires 7,921 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Covington Capital Management lifted its position in shares of IQVIA Holdings Inc. (NYSE:IQV) by 2,256.7% during the second quarter, Holdings Channel.com reports. The firm owned 8,272 shares of the medical research company’s stock after purchasing an additional 7,921 shares during the period. Covington Capital Management’s holdings in IQVIA were worth $2,004,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Perennial Advisors LLC purchased a new stake in shares of IQVIA during the 2nd quarter valued at $27,000. Eagle Bay Advisors LLC bought a new stake in shares of IQVIA during the 2nd quarter valued at about $29,000. Pinz Capital Management LP bought a new stake in shares of IQVIA during the 1st quarter valued at about $48,000. Red Door Wealth Management LLC purchased a new position in shares of IQVIA during the 2nd quarter valued at about $48,000. Finally, Howe & Rusling Inc. increased its stake in IQVIA by 2,480.0% in the 1st quarter. Howe & Rusling Inc. now owns 258 shares of the medical research company’s stock worth $50,000 after purchasing an additional 248 shares during the period. 87.01% of the stock is currently owned by institutional investors.

IQVIA stock opened at $241.51 on Thursday. IQVIA Holdings Inc. has a 12-month low of $150.65 and a 12-month high of $265.34. The company has a market capitalization of $46.28 billion, a price-to-earnings ratio of 77.41, a price-to-earnings-growth ratio of 1.84 and a beta of 1.43. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.05 and a quick ratio of 1.05. The firm’s fifty day moving average price is $252.75 and its 200 day moving average price is $240.52.

IQVIA (NYSE:IQV) last posted its earnings results on Tuesday, July 27th. The medical research company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.06. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.27 billion. IQVIA had a net margin of 4.69% and a return on equity of 23.95%. IQVIA’s revenue was up 36.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.18 EPS. Analysts forecast that IQVIA Holdings Inc. will post 8.26 earnings per share for the current fiscal year.

IQV has been the topic of a number of recent analyst reports. Credit Suisse Group lifted their price objective on IQVIA from $242.00 to $265.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 20th. Citigroup boosted their price target on IQVIA from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, July 28th. Barclays upped their price objective on IQVIA from $260.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, July 13th. Morgan Stanley upped their price target on IQVIA from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. Finally, Robert W. Baird upped their price objective on IQVIA from $273.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 28th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $262.33.

IQVIA Profile

IQVIA Holdings, Inc engages in the provision of analytics, technology solutions, and clinical research services to the life sciences industry. It operates through the following segments: Technology & Analytics Solutions, Research & Development Solutions and Contract Sales & Medical Solutions. Technology & Analytics Solutions segment provides mission critical information, technology solutions and real world solutions and services to the firm’s life science clients.

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Institutional Ownership by Quarter for IQVIA (NYSE:IQV)

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