Short Interest in IQVIA Holdings Inc. (NYSE:IQV) Declines By 15.8%

IQVIA Holdings Inc. (NYSE:IQV) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 2,770,000 shares, a drop of 15.8% from the August 15th total of 3,290,000 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average trading volume of 1,190,000 shares, the days-to-cover ratio is currently 2.3 days.

IQVIA Stock Up 1.1 %

Shares of IQV traded up $2.69 during mid-day trading on Wednesday, hitting $242.67. 1,575,572 shares of the company’s stock were exchanged, compared to its average volume of 1,078,060. IQVIA has a 52 week low of $167.42 and a 52 week high of $261.73. The company has a 50-day simple moving average of $239.12 and a 200 day simple moving average of $234.12. The company has a market cap of $44.24 billion, a PE ratio of 32.78, a P/E/G ratio of 2.24 and a beta of 1.49. 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 posted its quarterly earnings data on Monday, July 22nd. The medical research company reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.07. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.79 billion. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.22 EPS. On average, research analysts forecast that IQVIA will post 10.25 earnings per share for the current fiscal year.

Insider Buying and Selling at IQVIA

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total transaction 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 accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On IQVIA

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of IQVIA in the 4th quarter valued at about $383,705,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in IQVIA by 339.6% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,067,195 shares of the medical research company’s stock worth $478,308,000 after buying an additional 1,597,003 shares during the last quarter. Morningstar Investment Services LLC raised its stake in IQVIA by 96.9% in the fourth quarter. Morningstar Investment Services LLC now owns 1,231,916 shares of the medical research company’s stock valued at $286,704,000 after buying an additional 606,333 shares during the period. Capital Research Global Investors lifted its position in shares of IQVIA by 42.2% in the fourth quarter. Capital Research Global Investors now owns 1,995,269 shares of the medical research company’s stock valued at $461,675,000 after buying an additional 592,372 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of IQVIA by 472.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 456,335 shares of the medical research company’s stock worth $96,487,000 after acquiring an additional 376,595 shares during the period. 89.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IQV has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped 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. Truist Financial upped their price target on IQVIA from $292.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Robert W. Baird lifted their price objective on shares of IQVIA from $235.00 to $251.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Barclays upped 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. Finally, Argus raised shares of IQVIA to a “strong-buy” rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, IQVIA presently has an average rating of “Moderate Buy” and a consensus target price of $266.67.

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.