Edgestream Partners L.P. Purchases New Position in IQVIA Holdings Inc. (NYSE:IQV)

Edgestream Partners L.P. purchased a new stake in IQVIA Holdings Inc. (NYSE:IQV) in the 2nd quarter, HoldingsChannel reports. The firm purchased 23,825 shares of the medical research company’s stock, valued at approximately $5,038,000.

Other large investors have also made changes to their positions in the company. Jennison Associates LLC grew its stake in shares of IQVIA by 7.3% in the 1st quarter. Jennison Associates LLC now owns 140,914 shares of the medical research company’s stock valued at $35,636,000 after buying an additional 9,578 shares in the last quarter. Cadian Capital Management LP acquired a new stake in IQVIA in the 4th quarter worth approximately $70,108,000. Nomura Holdings Inc. acquired a new stake in IQVIA in the 4th quarter worth approximately $857,000. PGGM Investments lifted its holdings in IQVIA by 55.8% in the 2nd quarter. PGGM Investments now owns 12,073 shares of the medical research company’s stock worth $2,553,000 after purchasing an additional 4,326 shares during the last quarter. Finally, Fiduciary Alliance LLC acquired a new stake in IQVIA in the 1st quarter worth approximately $1,864,000. Institutional investors own 89.62% of the company’s stock.

Insiders Place Their Bets

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total transaction of $320,229.00. Following the completion of the transaction, the insider now directly owns 19,536 shares in the company, valued at $4,812,302.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

IQV has been the subject of several analyst reports. Argus upgraded IQVIA to a “strong-buy” rating in a report on Wednesday, July 31st. The Goldman Sachs Group began coverage on IQVIA in a report on Thursday, June 6th. They issued a “buy” rating and a $270.00 target price for the company. Jefferies Financial Group lowered 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 report on Wednesday, July 24th. Robert W. Baird upped their price target on IQVIA from $235.00 to $251.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Finally, UBS Group upped their price target on IQVIA from $295.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $266.67.

IQVIA Stock Performance

IQV opened at $239.98 on Wednesday. The stock has a market cap of $43.75 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 current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.80. IQVIA Holdings Inc. has a 1 year low of $167.42 and a 1 year high of $261.73. The stock’s 50 day simple moving average is $239.12 and its 200-day simple moving average is $234.12.

IQVIA (NYSE:IQV) last announced its quarterly earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.07. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the prior year, the business posted $2.22 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts forecast 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.