Acadian Asset Management LLC Boosts Stock Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Acadian Asset Management LLC raised its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 110.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 7,078 shares of the medical research company’s stock after purchasing an additional 3,718 shares during the period. Acadian Asset Management LLC’s holdings in IQVIA were worth $1,496,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in IQV. Rise Advisors LLC purchased a new position in shares of IQVIA in the 1st quarter worth approximately $31,000. Versant Capital Management Inc grew its position in shares of IQVIA by 733.3% in the 2nd quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock worth $26,000 after buying an additional 110 shares during the last quarter. Riverview Trust Co purchased a new position in shares of IQVIA in the 1st quarter worth approximately $32,000. Opal Wealth Advisors LLC purchased a new position in shares of IQVIA in the 2nd quarter worth approximately $27,000. Finally, International Assets Investment Management LLC purchased a new position in shares of IQVIA in the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.

Insider Buying and Selling

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

IQVIA Trading Up 0.1 %

IQV stock opened at $238.70 on Monday. The company’s 50-day simple moving average is $237.98 and its 200-day simple moving average is $234.26. 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 52-week low of $167.42 and a 52-week high of $261.73. The firm has a market cap of $43.49 billion, a P/E ratio of 32.61, a PEG ratio of 2.23 and a beta of 1.49.

IQVIA (NYSE:IQV) last posted its earnings results 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 business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period in the prior year, the company posted $2.22 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts forecast that IQVIA Holdings Inc. will post 10.25 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Barclays lifted their target price on shares of IQVIA from $255.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada assumed coverage on shares of IQVIA in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $275.00 target price for the company. Morgan Stanley lifted their target price on shares of IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their target price on shares of IQVIA from $260.00 to $288.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Robert W. Baird lifted their target price 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. 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.