Gulf International Bank UK Ltd boosted its stake in Iqvia Holdings Inc (NYSE:IQV) by 9.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,156 shares of the medical research company’s stock after acquiring an additional 4,500 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Iqvia were worth $7,026,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cutler Group LP boosted its holdings in Iqvia by 173.3% in the 2nd quarter. Cutler Group LP now owns 1,100 shares of the medical research company’s stock worth $109,000 after acquiring an additional 2,600 shares during the period. Townsend & Associates Inc purchased a new position in Iqvia in the 2nd quarter worth approximately $117,000. Fort L.P. purchased a new position in Iqvia in the 2nd quarter worth approximately $118,000. Hamilton Lane Advisors LLC purchased a new position in Iqvia in the 3rd quarter worth approximately $121,000. Finally, Quad Cities Investment Group LLC purchased a new position in Iqvia in the 2nd quarter worth approximately $140,000. Hedge funds and other institutional investors own 91.36% of the company’s stock.
In related news, Director John G. Danhakl sold 221,900 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $126.63, for a total transaction of $28,099,197.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kevin C. Knightly sold 9,216 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $126.46, for a total value of $1,165,455.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 601,586 shares of company stock valued at $75,510,422. Company insiders own 6.00% of the company’s stock.
A number of research firms have weighed in on IQV. Robert W. Baird upped their price target on Iqvia from $143.00 to $146.00 and gave the stock an “outperform” rating in a report on Tuesday, October 2nd. UBS Group began coverage on Iqvia in a report on Tuesday, October 9th. They issued a “buy” rating for the company. Raymond James upped their price target on Iqvia from $136.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Friday, August 31st. Argus set a $136.00 price target on Iqvia and gave the stock a “buy” rating in a report on Thursday, August 23rd. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $97.00 target price on shares of Iqvia in a research note on Wednesday, July 25th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Iqvia presently has an average rating of “Buy” and a consensus price target of $131.67.
Iqvia stock opened at $124.17 on Friday. The company has a market cap of $25.62 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 1.82 and a beta of 0.81. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.09 and a quick ratio of 1.09. Iqvia Holdings Inc has a 52 week low of $91.57 and a 52 week high of $135.48.
Iqvia (NYSE:IQV) last released its earnings results on Monday, October 22nd. The medical research company reported $1.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.03. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Iqvia had a return on equity of 13.69% and a net margin of 12.29%. Iqvia’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, analysts forecast that Iqvia Holdings Inc will post 5.13 earnings per share for the current year.
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IQVIA Holdings Inc provides integrated information and technology-enabled healthcare services in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Commercial Solutions, Research & Development Solutions, and Integrated Engagement Services. The Commercial Solutions segment offers a range of cloud-based applications and related implementation, real-world insights, and reference information services; and strategic and implementation consulting services, such as advanced analytics and commercial processes outsourcing services.
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