Farallon Capital Management LLC Acquires 86,870 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Farallon Capital Management LLC increased its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 3.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,923,032 shares of the medical research company’s stock after purchasing an additional 86,870 shares during the quarter. IQVIA accounts for 2.9% of Farallon Capital Management LLC’s holdings, making the stock its 3rd biggest position. Farallon Capital Management LLC owned approximately 1.60% of IQVIA worth $618,046,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in IQVIA in the 1st quarter valued at $31,000. Versant Capital Management Inc lifted its holdings in shares of 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 purchasing an additional 110 shares in the last quarter. Riverview Trust Co acquired a new position in shares of IQVIA during the first quarter worth about $32,000. Opal Wealth Advisors LLC acquired a new stake in IQVIA in the 2nd quarter valued at approximately $27,000. Finally, Itau Unibanco Holding S.A. acquired a new position in IQVIA during the 2nd quarter worth approximately $29,000. Institutional investors own 89.62% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on IQV. Jefferies Financial Group lowered shares of IQVIA from a “buy” rating to a “hold” rating and cut their price objective for the stock from $266.00 to $242.00 in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on IQVIA from $260.00 to $288.00 and gave the company an “overweight” rating in a report on Monday, August 5th. UBS Group upped their target price on IQVIA from $295.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada assumed coverage on IQVIA in a research report on Wednesday, September 4th. They set an “outperform” rating and a $275.00 price target on the stock. Finally, Barclays raised their target price on shares of IQVIA from $255.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $267.00.

IQVIA Stock Performance

NYSE:IQV opened at $240.75 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.80. The stock has a 50 day simple moving average of $240.90 and a 200 day simple moving average of $233.81. IQVIA Holdings Inc. has a 1-year low of $167.42 and a 1-year high of $261.73. The stock has a market cap of $43.86 billion, a P/E ratio of 32.89, a PEG ratio of 2.25 and a beta of 1.49.

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

Insider Transactions at IQVIA

In related news, insider Eric Sherbet sold 1,300 shares of the business’s 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 directly owns 19,536 shares in the company, valued at $4,812,302.88. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.60% of the company’s stock.

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.