Bridges Investment Management Inc. Purchases 8,585 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Bridges Investment Management Inc. grew its position in IQVIA Holdings Inc. (NYSE:IQV) by 692.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,824 shares of the medical research company’s stock after purchasing an additional 8,585 shares during the period. Bridges Investment Management Inc.’s holdings in IQVIA were worth $2,077,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Canada Pension Plan Investment Board boosted its position in IQVIA by 6.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,403,488 shares of the medical research company’s stock worth $719,634,000 after acquiring an additional 211,653 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of IQVIA by 44.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 322,669 shares of the medical research company’s stock worth $68,225,000 after purchasing an additional 99,775 shares in the last quarter. MQS Management LLC acquired a new position in IQVIA during the second quarter worth $750,000. XTX Topco Ltd grew its position in IQVIA by 16.5% in the second quarter. XTX Topco Ltd now owns 9,487 shares of the medical research company’s stock valued at $2,006,000 after purchasing an additional 1,347 shares in the last quarter. Finally, WCG Wealth Advisors LLC increased its stake in IQVIA by 1.3% in the 2nd quarter. WCG Wealth Advisors LLC now owns 17,497 shares of the medical research company’s stock valued at $3,700,000 after buying an additional 224 shares during the last quarter. 89.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IQV has been the subject of several analyst reports. Truist Financial raised their price objective on IQVIA from $292.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their price target on IQVIA from $260.00 to $288.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Royal Bank of Canada assumed coverage on IQVIA in a report on Wednesday, September 4th. They issued an “outperform” rating and a $275.00 price objective for the company. UBS Group boosted their target price on shares of IQVIA from $295.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group cut shares of IQVIA from a “buy” rating to a “hold” rating and cut their price target for the company from $266.00 to $242.00 in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.00.

Insider Buying and Selling at IQVIA

In other news, insider Eric Sherbet sold 1,300 shares of IQVIA stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 directly owns 19,536 shares in the company, valued at $4,812,302.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

IQVIA Price Performance

Shares of NYSE IQV opened at $242.24 on Friday. The firm has a market cap of $44.16 billion, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 2.25 and a beta of 1.49. The business’s 50 day moving average is $240.60 and its 200-day moving average is $234.19. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.80. IQVIA Holdings Inc. has a 1-year low of $167.42 and a 1-year high of $261.73.

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

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.