Amalgamated Bank Sells 2,629 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Amalgamated Bank reduced its position in shares of IQVIA Holdings Inc. (NYSE:IQV) by 6.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,979 shares of the medical research company’s stock after selling 2,629 shares during the quarter. Amalgamated Bank’s holdings in IQVIA were worth $7,819,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in IQV. Versant Capital Management Inc boosted its stake in IQVIA by 733.3% in the second quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 110 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of IQVIA during the second quarter worth $27,000. Rise Advisors LLC bought a new stake in IQVIA in the first quarter valued at about $31,000. Riverview Trust Co acquired a new position in IQVIA in the first quarter valued at about $32,000. Finally, International Assets Investment Management LLC bought a new position in IQVIA during the second quarter worth about $32,000. 89.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IQV has been the subject of a number of recent analyst reports. Jefferies Financial Group cut IQVIA from a “buy” rating to a “hold” rating and lowered their price target for the company from $266.00 to $242.00 in a research note on Wednesday, July 24th. Truist Financial increased their target price on shares of IQVIA from $292.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. StockNews.com raised shares of IQVIA from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Evercore ISI lifted their target price on IQVIA from $230.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group assumed coverage on IQVIA in a report on Thursday, June 6th. They issued a “buy” rating and a $270.00 price target for the company. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, IQVIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.67.

IQVIA Stock Performance

Shares of IQV stock opened at $244.62 on Friday. IQVIA Holdings Inc. has a 12 month low of $167.42 and a 12 month high of $261.73. The company’s fifty day simple moving average is $240.24 and its 200-day simple moving average is $234.25. The firm has a market cap of $44.57 billion, a PE ratio of 33.42, a P/E/G ratio of 2.24 and a beta of 1.49. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.80.

IQVIA (NYSE:IQV) last posted its quarterly earnings data on Monday, July 22nd. The medical research company reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.07. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.79 billion. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.22 EPS. Equities research analysts expect that IQVIA Holdings Inc. will post 10.25 EPS for the current fiscal year.

Insider Buying and Selling at IQVIA

In other news, insider Eric Sherbet sold 1,300 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total value of $320,229.00. Following the completion of the sale, the insider now owns 19,536 shares of the company’s stock, valued at approximately $4,812,302.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

About IQVIA

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.