Simplify Asset Management Inc. Buys New Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Simplify Asset Management Inc. acquired a new position in shares of IQVIA Holdings Inc. (NYSE:IQV) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 5,743 shares of the medical research company’s stock, valued at approximately $1,214,000.

A number of other hedge funds have also recently modified their holdings of IQV. 9258 Wealth Management LLC increased its holdings in shares of IQVIA by 35.9% in the 4th quarter. 9258 Wealth Management LLC now owns 2,915 shares of the medical research company’s stock valued at $674,000 after acquiring an additional 770 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of IQVIA by 4.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 43,380 shares of the medical research company’s stock valued at $10,037,000 after purchasing an additional 1,943 shares during the period. Gladstone Institutional Advisory LLC raised its stake in shares of IQVIA by 5.7% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 1,667 shares of the medical research company’s stock worth $386,000 after purchasing an additional 90 shares during the last quarter. Quest Partners LLC acquired a new position in IQVIA in the 4th quarter valued at $182,000. Finally, CreativeOne Wealth LLC increased its stake in shares of IQVIA by 2.4% during the fourth quarter. CreativeOne Wealth LLC now owns 3,227 shares of the medical research company’s stock worth $747,000 after acquiring an additional 76 shares during the period. 89.62% of the stock is owned by hedge funds and other institutional investors.

IQVIA Price Performance

IQVIA stock opened at $244.62 on Friday. The business’s fifty day moving average is $240.24 and its two-hundred day moving average is $234.25. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.85 and a current ratio of 0.85. IQVIA Holdings Inc. has a 52 week low of $167.42 and a 52 week high of $261.73. The firm has a market cap of $44.57 billion, a P/E ratio of 33.42, a P/E/G ratio of 2.24 and a beta of 1.49.

IQVIA (NYSE:IQV) last issued its quarterly earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.07. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.79 billion. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. IQVIA’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.22 earnings per share. Equities research analysts forecast that IQVIA Holdings Inc. will post 10.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Eric Sherbet sold 1,300 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total transaction of $320,229.00. Following the completion of the transaction, the insider now directly owns 19,536 shares in the company, valued at approximately $4,812,302.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

IQV has been the subject of several research analyst reports. Argus upgraded IQVIA to a “strong-buy” rating in a research report on Wednesday, July 31st. Evercore ISI lifted their target price on shares of IQVIA from $230.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Morgan Stanley upped their target price on IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. UBS Group raised their target price on IQVIA from $295.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Truist Financial boosted their price target on IQVIA from $292.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $266.67.

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.