California Public Employees Retirement System Decreases Stock Holdings in IQVIA Holdings Inc. (NYSE:IQV)

California Public Employees Retirement System lowered its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 345,955 shares of the medical research company’s stock after selling 11,672 shares during the period. California Public Employees Retirement System owned about 0.19% of IQVIA worth $80,047,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc lifted its holdings in shares of IQVIA by 327.6% in the fourth quarter. AdvisorNet Financial Inc now owns 124 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 95 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in shares of IQVIA in the fourth quarter valued at about $32,000. Activest Wealth Management purchased a new stake in shares of IQVIA in the fourth quarter valued at about $35,000. CVA Family Office LLC purchased a new stake in shares of IQVIA in the fourth quarter valued at about $43,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of IQVIA in the third quarter valued at about $44,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.

Insider Activity at IQVIA

In related news, insider Ari Bousbib sold 31,678 shares of IQVIA stock in a transaction on Friday, March 1st. The shares were sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the transaction, the insider now owns 796,752 shares in the company, valued at approximately $199,610,278.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Eric Sherbet sold 1,000 shares of IQVIA stock in a transaction on Friday, February 16th. The shares were sold at an average price of $241.50, for a total transaction of $241,500.00. Following the sale, the insider now owns 20,836 shares of the company’s stock, valued at approximately $5,031,894. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ari Bousbib sold 31,678 shares of IQVIA stock in a transaction on Friday, March 1st. The stock was sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the sale, the insider now directly owns 796,752 shares in the company, valued at approximately $199,610,278.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,285 shares of company stock worth $10,331,003. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. StockNews.com raised shares of IQVIA from a “hold” rating to a “buy” rating in a report on Friday, February 16th. UBS Group upped their price objective on shares of IQVIA from $240.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. BTIG Research initiated coverage on shares of IQVIA in a research note on Tuesday, February 13th. They set a “buy” rating and a $285.00 price objective on the stock. SVB Leerink initiated coverage on shares of IQVIA in a research note on Monday, February 26th. They set an “outperform” rating and a $290.00 price objective on the stock. Finally, Leerink Partnrs reissued an “outperform” rating on shares of IQVIA in a research note on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $256.80.

IQVIA Stock Performance

Shares of IQV stock opened at $240.84 on Thursday. IQVIA Holdings Inc. has a one year low of $167.42 and a one year high of $261.73. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.86 and a current ratio of 0.86. The company has a 50 day moving average price of $245.50 and a 200 day moving average price of $222.69. The firm has a market capitalization of $43.71 billion, a price-to-earnings ratio of 33.04, a price-to-earnings-growth ratio of 2.31 and a beta of 1.50.

IQVIA (NYSE:IQV) last issued its earnings results on Wednesday, February 14th. The medical research company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.02. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.80 billion. IQVIA had a net margin of 9.06% and a return on equity of 29.32%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.54 EPS. Sell-side analysts anticipate that IQVIA Holdings Inc. will post 10.11 EPS for the current year.

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.