Parallel Advisors LLC Acquires 296 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Parallel Advisors LLC increased its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 3.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 8,859 shares of the medical research company’s stock after acquiring an additional 296 shares during the period. Parallel Advisors LLC’s holdings in IQVIA were worth $1,873,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 9258 Wealth Management LLC increased its holdings in IQVIA by 35.9% during the 4th quarter. 9258 Wealth Management LLC now owns 2,915 shares of the medical research company’s stock worth $674,000 after purchasing an additional 770 shares during the period. Avantax Advisory Services Inc. increased its holdings in IQVIA by 39.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 2,702 shares of the medical research company’s stock worth $625,000 after purchasing an additional 766 shares during the period. Norges Bank purchased a new position in IQVIA during the 4th quarter worth $383,705,000. BI Asset Management Fondsmaeglerselskab A S increased its holdings in IQVIA by 36.7% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 15,621 shares of the medical research company’s stock worth $3,614,000 after purchasing an additional 4,195 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in IQVIA by 4.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 43,380 shares of the medical research company’s stock worth $10,037,000 after purchasing an additional 1,943 shares during the period. 89.62% of the stock is owned by institutional investors.

IQVIA Price Performance

Shares of NYSE:IQV opened at $238.70 on Monday. 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 twelve month low of $167.42 and a twelve month high of $261.73. The company’s 50 day moving average is $237.98 and its 200 day moving average is $234.26. The company has a market cap of $43.49 billion, a PE ratio of 32.61, a price-to-earnings-growth 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, beating analysts’ consensus estimates of $2.57 by $0.07. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.79 billion. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.22 earnings per share. On average, sell-side analysts forecast that IQVIA Holdings Inc. will post 10.25 EPS for the current year.

Insider Transactions at IQVIA

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 directly owns 19,536 shares of the company’s stock, valued at $4,812,302.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Evercore ISI lifted their price target on IQVIA from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Morgan Stanley boosted their target price on shares of IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Robert W. Baird lifted their price objective on shares of IQVIA from $235.00 to $251.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Barclays increased their target price on shares of IQVIA from $255.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of IQVIA from $260.00 to $288.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Four 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.67.

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.