Sterling Capital Management LLC Sells 2,569 Shares of IQVIA Holdings Inc. $IQV

Sterling Capital Management LLC reduced its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 33.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,150 shares of the medical research company’s stock after selling 2,569 shares during the quarter. Sterling Capital Management LLC’s holdings in IQVIA were worth $1,385,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in IQVIA in the second quarter valued at approximately $2,811,292,000. Dimensional Fund Advisors LP lifted its position in shares of IQVIA by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,657,696 shares of the medical research company’s stock worth $282,657,000 after purchasing an additional 66,643 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of IQVIA during the second quarter worth $240,911,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of IQVIA by 8.3% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,225,851 shares of the medical research company’s stock valued at $209,057,000 after purchasing an additional 93,779 shares during the period. 89.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of IQVIA from $276.00 to $303.00 and gave the company a “buy” rating in a report on Wednesday, October 14th. HSBC upped their price objective on shares of IQVIA from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, September 1st. Weiss Ratings upgraded IQVIA from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, September 24th. JPMorgan Chase & Co. lifted their target price on IQVIA from $285.00 to $295.00 in a research report on Wednesday, October 14th. Finally, Robert W. Baird lifted their target price on IQVIA from $287.00 to $324.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $278.75.

IQVIA Stock Down 2.0%

Shares of NYSE:IQV opened at $273.80 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 2.18. The company has a fifty day simple moving average of $263.36 and a 200 day simple moving average of $209.63. The firm has a market cap of $45.07 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 2.46 and a beta of 1.17. IQVIA Holdings Inc. has a 12-month low of $154.50 and a 12-month high of $282.98.

IQVIA (NYSE:IQV) last posted its quarterly earnings results on Tuesday, July 28th. The medical research company reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.03 by $0.12. The firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.30 billion. IQVIA had a net margin of 8.10% and a return on equity of 30.25%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.81 earnings per share. On average, equities research analysts anticipate that IQVIA Holdings Inc. will post 11.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Bhavik Patel sold 1,855 shares of IQVIA stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $235.27, for a total value of $436,425.85. Following the completion of the transaction, the insider directly owned 1,348 shares in the company, valued at approximately $317,143.96. This trade represents a 57.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric Sherbet sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $249.16, for a total value of $1,245,800.00. Following the completion of the sale, the insider directly owned 20,999 shares of the company’s stock, valued at approximately $5,232,110.84. This represents a 19.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 15,581 shares of company stock worth $3,796,021. Company insiders own 1.70% of the company’s stock.

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.