Central Pacific Bank Trust Division Lowers Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Central Pacific Bank Trust Division reduced its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 87.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 249 shares of the medical research company’s stock after selling 1,685 shares during the period. Central Pacific Bank Trust Division’s holdings in IQVIA were worth $59,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. First Foundation Advisors boosted its stake in shares of IQVIA by 3.8% in the 2nd quarter. First Foundation Advisors now owns 1,161 shares of the medical research company’s stock valued at $245,000 after buying an additional 43 shares during the period. Team Hewins LLC grew its holdings in shares of IQVIA by 5.0% during the first quarter. Team Hewins LLC now owns 973 shares of the medical research company’s stock worth $246,000 after purchasing an additional 46 shares during the last quarter. Invera Wealth Advisors LLC grew its holdings in shares of IQVIA by 0.3% during the second quarter. Invera Wealth Advisors LLC now owns 14,506 shares of the medical research company’s stock worth $3,183,000 after purchasing an additional 46 shares during the last quarter. Covestor Ltd grew its holdings in shares of IQVIA by 45.3% during the first quarter. Covestor Ltd now owns 154 shares of the medical research company’s stock worth $39,000 after purchasing an additional 48 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of IQVIA by 0.3% during the second quarter. Oregon Public Employees Retirement Fund now owns 15,668 shares of the medical research company’s stock worth $3,313,000 after purchasing an additional 48 shares during the last quarter. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at IQVIA

In other news, insider Eric Sherbet sold 1,300 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 19,536 shares of the company’s stock, valued at $4,812,302.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on IQV. UBS Group raised their price objective on IQVIA from $295.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Evercore ISI raised their price objective on IQVIA from $230.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Royal Bank of Canada assumed coverage on IQVIA in a report on Wednesday, September 4th. They set an “outperform” rating and a $275.00 price target on the stock. Truist Financial upped their price objective on IQVIA from $292.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. increased their price objective on IQVIA from $260.00 to $288.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $267.00.

IQVIA Price Performance

Shares of IQVIA stock traded up $2.44 during trading on Friday, reaching $229.84. The company’s stock had a trading volume of 591,239 shares, compared to its average volume of 1,077,197. The business has a 50 day moving average price of $240.74 and a 200-day moving average price of $232.70. The company has a market capitalization of $41.88 billion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 2.21 and a beta of 1.49. IQVIA Holdings Inc. has a 12-month low of $167.42 and a 12-month high of $261.73. 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 issued its quarterly earnings data on Monday, July 22nd. The medical research company reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.07. The firm had revenue of $3.81 billion during 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%. IQVIA’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.22 earnings per share. As a group, sell-side analysts anticipate that IQVIA Holdings Inc. will post 10.25 EPS 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.