Ensign Peak Advisors Inc Has $44.33 Million Stake in IQVIA Holdings Inc. (NYSE:IQV)

Ensign Peak Advisors Inc cut its stake in IQVIA Holdings Inc. (NYSE:IQV) by 15.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 209,632 shares of the medical research company’s stock after selling 37,647 shares during the quarter. Ensign Peak Advisors Inc owned 0.12% of IQVIA worth $44,325,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of IQV. Versant Capital Management Inc raised its holdings in IQVIA by 733.3% in the second quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock worth $26,000 after purchasing an additional 110 shares during the period. Opal Wealth Advisors LLC bought a new position in IQVIA during the second quarter worth about $27,000. Rise Advisors LLC acquired a new position in IQVIA in the first quarter valued at about $31,000. Riverview Trust Co bought a new stake in shares of IQVIA in the first quarter worth about $32,000. Finally, International Assets Investment Management LLC bought a new stake in IQVIA during the 2nd quarter worth approximately $32,000. 89.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IQV has been the subject of a number of research analyst reports. Royal Bank of Canada initiated coverage on shares of IQVIA in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $275.00 target price for the company. Evercore ISI lifted their target price on IQVIA from $230.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Argus raised shares of IQVIA to a “strong-buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group assumed coverage on shares of IQVIA in a research report on Thursday, June 6th. They issued a “buy” rating and a $270.00 price objective on the stock. Finally, Jefferies Financial Group downgraded shares of IQVIA from a “buy” rating to a “hold” rating and decreased their target price for the company from $266.00 to $242.00 in a research report on Wednesday, July 24th. Four 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 company. Based on data from MarketBeat.com, IQVIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.00.

IQVIA Trading Down 1.0 %

Shares of IQVIA stock opened at $242.12 on Friday. IQVIA Holdings Inc. has a 1 year low of $167.42 and a 1 year high of $261.73. The company has a market capitalization of $44.14 billion, a price-to-earnings ratio of 33.08, a P/E/G ratio of 2.25 and a beta of 1.49. The business has a fifty day simple moving average of $240.60 and a two-hundred day simple moving average of $234.07. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.85 and a quick ratio of 0.85.

IQVIA (NYSE:IQV) last announced its quarterly earnings results on Monday, July 22nd. The medical research company reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.07. The business had revenue of $3.81 billion for 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 quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.22 EPS. Research analysts forecast that IQVIA Holdings Inc. will post 10.25 EPS for the current year.

Insider Activity at IQVIA

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of IQVIA stock in a transaction dated 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 owns 19,536 shares in the company, valued at approximately $4,812,302.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

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.