IQVIA Holdings Inc. $IQV Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 5.9% in the third quarter, Holdings Channel.com reports. The firm owned 782,835 shares of the medical research company’s stock after selling 48,991 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in IQVIA were worth $210,465,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of IQV. BlackRock Inc. acquired a new position in shares of IQVIA during the second quarter worth $2,811,292,000. Dimensional Fund Advisors LP grew its stake in shares of IQVIA by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,657,696 shares of the medical research company’s stock valued at $282,657,000 after buying an additional 66,643 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of IQVIA by 9.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,634,264 shares of the medical research company’s stock worth $315,772,000 after purchasing an additional 134,997 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of IQVIA during the second quarter valued at about $240,911,000. Finally, Bank of America Corp DE bought a new position in shares of IQVIA in the second quarter valued at approximately $235,551,000. 89.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised their target price on IQVIA from $270.00 to $305.00 in a research report on Monday, October 19th. Truist Financial boosted their price objective on IQVIA from $329.00 to $346.00 and gave the company a “buy” rating in a research note on Wednesday. Wall Street Zen upgraded IQVIA from a “hold” rating to a “buy” rating in a research note on Saturday, September 12th. UBS Group began coverage on shares of IQVIA in a research report on Wednesday, September 30th. They set a “buy” rating and a $345.00 price objective on the stock. Finally, Jefferies Financial Group upped their target price on IQVIA from $220.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $294.21.

Insider Activity at IQVIA

In related news, insider James G. Berkshire sold 2,668 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $261.33, for a total value of $697,228.44. Following the completion of the transaction, the insider directly owned 10,890 shares of the company’s stock, valued at approximately $2,845,883.70. This trade represents a 19.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

IQVIA Stock Down 0.1%

IQV opened at $266.93 on Monday. The stock has a market capitalization of $43.99 billion, a price-to-earnings ratio of 32.43, a PEG ratio of 2.38 and a beta of 1.16. IQVIA Holdings Inc. has a twelve month low of $154.50 and a twelve month high of $284.50. 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 firm has a 50 day moving average price of $266.22 and a 200-day moving average price of $210.41.

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