E Fund Management Co. Ltd. Reduces Holdings in IQVIA Holdings Inc. (NYSE:IQV)

E Fund Management Co. Ltd. reduced its stake in IQVIA Holdings Inc. (NYSE:IQV) by 73.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,087 shares of the medical research company’s stock after selling 3,035 shares during the quarter. E Fund Management Co. Ltd.’s holdings in IQVIA were worth $230,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Lazard Asset Management LLC lifted its stake in shares of IQVIA by 0.9% during the first quarter. Lazard Asset Management LLC now owns 3,263,944 shares of the medical research company’s stock worth $825,416,000 after buying an additional 30,014 shares during the period. Canada Pension Plan Investment Board raised its stake in IQVIA by 6.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,191,835 shares of the medical research company’s stock worth $807,183,000 after acquiring an additional 193,304 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in IQVIA by 3.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,510,685 shares of the medical research company’s stock worth $634,927,000 after acquiring an additional 92,293 shares during the period. Capital Research Global Investors grew its stake in IQVIA by 7.2% during the 1st quarter. Capital Research Global Investors now owns 2,138,802 shares of the medical research company’s stock valued at $540,882,000 after purchasing an additional 143,533 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of IQVIA by 339.6% in 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 purchasing an additional 1,597,003 shares during the last quarter. Hedge funds and other institutional investors own 89.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Argus upgraded IQVIA to a “strong-buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on shares of IQVIA in a research note on Thursday, June 6th. They issued a “buy” rating and a $270.00 price objective on the stock. Evercore ISI boosted their target price on shares of IQVIA from $230.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group downgraded IQVIA from a “buy” rating to a “hold” rating and cut their price target for the stock from $266.00 to $242.00 in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted 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. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, IQVIA currently has an average rating of “Moderate Buy” and a consensus target price of $266.67.

Insider Buying and Selling

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of IQVIA 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 sale, the insider now owns 19,536 shares of the company’s stock, valued at approximately $4,812,302.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

IQVIA Stock Performance

IQV opened at $244.62 on Friday. The firm’s fifty day simple moving average is $240.24 and its two-hundred day simple moving average is $234.25. IQVIA Holdings Inc. has a 52-week low of $167.42 and a 52-week high of $261.73. The company has a market cap of $44.57 billion, a price-to-earnings ratio of 33.42, a PEG ratio of 2.24 and a beta of 1.49. 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 posted 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. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the previous year, the firm posted $2.22 EPS. IQVIA’s revenue was up 2.3% compared to the same quarter last year. Equities analysts anticipate that IQVIA Holdings Inc. will post 10.25 earnings per share for the current fiscal 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.