Victory Capital Management Inc. Sells 757 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Victory Capital Management Inc. cut its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 0.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 101,954 shares of the medical research company’s stock after selling 757 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of IQVIA worth $21,557,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Versant Capital Management Inc lifted its position 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 worth $26,000 after purchasing an additional 110 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of IQVIA during the second quarter worth approximately $27,000. Rise Advisors LLC acquired a new position in shares of IQVIA during the first quarter worth approximately $31,000. Riverview Trust Co acquired a new position in shares of IQVIA during the first quarter worth approximately $32,000. Finally, International Assets Investment Management LLC acquired a new position in shares of IQVIA during the second quarter worth approximately $32,000. 89.62% of the stock is owned by institutional investors.

Insider Activity at IQVIA

In related news, insider Eric Sherbet sold 1,300 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 19,536 shares of the company’s stock, valued at $4,812,302.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

IQV has been the topic of a number of research reports. Royal Bank of Canada initiated coverage on shares of IQVIA in a research report on Wednesday, September 4th. They set an “outperform” rating and a $275.00 target price on the stock. The Goldman Sachs Group initiated coverage on shares of IQVIA in a research report on Thursday, June 6th. They set a “buy” rating and a $270.00 target price on the stock. Barclays upped their target price on shares of IQVIA from $255.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Argus upgraded shares of IQVIA to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, Truist Financial increased their price objective on shares of IQVIA from $292.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, IQVIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.67.

IQVIA Stock Up 0.5 %

Shares of IQV stock opened at $238.40 on Friday. The firm has a fifty day moving average of $237.37 and a 200-day moving average of $234.53. 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 Holdings Inc. has a 12-month low of $167.42 and a 12-month high of $261.73. The company has a market capitalization of $43.44 billion, a price-to-earnings ratio of 32.57, a P/E/G ratio of 2.29 and a beta of 1.49.

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. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the prior year, the firm earned $2.22 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts predict 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.