Short Interest in IQVIA Holdings Inc. (NYSE:IQV) Declines By 15.8%

IQVIA Holdings Inc. (NYSE:IQV) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 2,770,000 shares, a drop of 15.8% from the August 15th total of 3,290,000 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average daily trading volume, of 1,190,000 shares, the days-to-cover ratio is presently 2.3 days.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on IQV shares. UBS Group boosted their target price on shares of IQVIA from $295.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley increased their target price on shares of IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Robert W. Baird lifted their price target 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. JPMorgan Chase & Co. increased their price target on IQVIA from $260.00 to $288.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, Truist Financial lifted their price objective on 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, IQVIA currently has an average rating of “Moderate Buy” and a consensus price target of $266.67.

Insider Transactions at IQVIA

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 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 document filed with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of IQVIA

A number of hedge funds have recently made changes to their positions in the company. Rise Advisors LLC acquired a new stake in IQVIA during the 1st quarter worth approximately $31,000. Versant Capital Management Inc grew its stake in shares of IQVIA by 733.3% in 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 during the last quarter. Riverview Trust Co acquired a new stake in IQVIA in the first quarter valued at $32,000. Opal Wealth Advisors LLC bought a new position in IQVIA during the 2nd quarter worth $27,000. Finally, Itau Unibanco Holding S.A. acquired a new position in IQVIA during the 2nd quarter worth about $29,000. 89.62% of the stock is owned by institutional investors and hedge funds.

IQVIA Price Performance

IQV stock traded up $2.69 during trading on Wednesday, reaching $242.67. 1,575,572 shares of the company were exchanged, compared to its average volume of 1,078,060. The company has a market capitalization of $44.24 billion, a price-to-earnings ratio of 32.78, a P/E/G ratio of 2.24 and a beta of 1.49. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.85 and a quick ratio of 0.85. The company has a 50-day moving average of $239.12 and a two-hundred day moving average of $234.12. IQVIA has a twelve month low of $167.42 and a twelve month high of $261.73.

IQVIA (NYSE:IQV) last announced its quarterly 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. 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 company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.22 earnings per share. As a group, equities analysts predict that IQVIA will post 10.25 earnings per share for the current fiscal 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.