Arizona State Retirement System Buys 394 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Arizona State Retirement System boosted its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 0.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 52,766 shares of the medical research company’s stock after purchasing an additional 394 shares during the period. Arizona State Retirement System’s holdings in IQVIA were worth $11,157,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its stake in shares of IQVIA by 733.3% during the second quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 110 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in IQVIA during the 2nd quarter valued at $27,000. Rise Advisors LLC bought a new position in shares of IQVIA during the 1st quarter worth $31,000. Riverview Trust Co purchased a new position in shares of IQVIA during the first quarter valued at $32,000. Finally, International Assets Investment Management LLC bought a new stake in shares of IQVIA in the second quarter valued at about $32,000. 89.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IQV has been the topic of a number of research reports. Robert W. Baird raised their target price on shares of IQVIA from $235.00 to $251.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada started coverage on shares of IQVIA in a research note on Wednesday. They issued an “outperform” rating and a $275.00 price objective for the company. Argus raised IQVIA to a “strong-buy” rating in a research report on Wednesday, July 31st. StockNews.com raised IQVIA from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Jefferies Financial Group downgraded IQVIA from a “buy” rating to a “hold” rating and dropped their price objective for the company from $266.00 to $242.00 in a research report on Wednesday, July 24th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $266.67.

Insider Buying and Selling

In related news, insider Eric Sherbet sold 1,300 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total value of $320,229.00. Following the transaction, 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 SEC, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

IQVIA Stock Down 2.0 %

NYSE:IQV opened at $243.07 on Friday. The company’s 50 day moving average is $234.92 and its two-hundred day moving average is $234.63. The company has a market cap of $44.29 billion, a PE ratio of 33.21, a P/E/G ratio of 2.37 and a beta of 1.49. IQVIA Holdings Inc. has a twelve month low of $167.42 and a twelve month high of $261.73. 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 (NYSE:IQV) last released its earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the prior year, the firm earned $2.22 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. Analysts anticipate that IQVIA Holdings Inc. will post 10.24 EPS for the current year.

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.