Truist Financial Corp Reduces Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Truist Financial Corp trimmed its position in shares of IQVIA Holdings Inc. (NYSE:IQV) by 3.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 529,714 shares of the medical research company’s stock after selling 19,222 shares during the quarter. Truist Financial Corp owned approximately 0.29% of IQVIA worth $122,565,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in shares of IQVIA during the fourth quarter worth approximately $13,759,000. Schwartz Investment Counsel Inc. increased its position in shares of IQVIA by 4.1% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 178,690 shares of the medical research company’s stock worth $41,345,000 after purchasing an additional 7,050 shares in the last quarter. Dfpg Investments LLC purchased a new stake in shares of IQVIA during the fourth quarter worth approximately $1,106,000. Sei Investments Co. increased its stake in shares of IQVIA by 20.2% in the 3rd quarter. Sei Investments Co. now owns 94,748 shares of the medical research company’s stock worth $18,641,000 after acquiring an additional 15,913 shares during the last quarter. Finally, Duality Advisers LP acquired a new position in shares of IQVIA during the 3rd quarter valued at about $491,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IQV has been the subject of several analyst reports. SVB Leerink initiated coverage on shares of IQVIA in a research note on Monday, February 26th. They issued an “outperform” rating and a $290.00 price target for the company. UBS Group increased their price objective on shares of IQVIA from $240.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Robert W. Baird increased their price objective on shares of IQVIA from $226.00 to $251.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Evercore ISI increased their price objective on shares of IQVIA from $255.00 to $265.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 15th. Finally, Truist Financial increased their price objective on shares of IQVIA from $286.00 to $297.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, IQVIA has a consensus rating of “Moderate Buy” and a consensus price target of $256.80.

Insider Buying and Selling at IQVIA

In other IQVIA news, insider Kevin C. Knightly sold 8,607 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total value of $2,153,213.19. Following the completion of the transaction, the insider now owns 5,251 shares in the company, valued at $1,313,642.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Kevin C. Knightly sold 8,607 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total transaction of $2,153,213.19. Following the completion of the sale, the insider now owns 5,251 shares in the company, valued at $1,313,642.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eric Sherbet sold 1,000 shares of the stock in a transaction dated Friday, February 16th. The stock was 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 disclosure for this sale can be found here. Insiders sold 41,285 shares of company stock worth $10,331,003 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

IQVIA Stock Up 0.4 %

NYSE:IQV traded up $0.90 during trading hours on Friday, hitting $234.88. The company’s stock had a trading volume of 697,640 shares, compared to its average volume of 761,918. The stock has a market capitalization of $42.63 billion, a P/E ratio of 32.22, a price-to-earnings-growth ratio of 2.26 and a beta of 1.50. The stock has a fifty day moving average of $245.28 and a 200-day moving average of $223.02. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 2.12. IQVIA Holdings Inc. has a 52-week low of $167.42 and a 52-week high of $261.73.

IQVIA (NYSE:IQV) last posted its earnings results on Wednesday, February 14th. The medical research company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.82 by $0.02. IQVIA had a return on equity of 29.32% and a net margin of 9.06%. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.80 billion. During the same quarter in the prior year, the company posted $2.54 earnings per share. IQVIA’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities analysts forecast that IQVIA Holdings Inc. will post 10.12 earnings per share for the current year.

IQVIA Company 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.