Inspire Investing LLC Trims Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Inspire Investing LLC lessened its stake in IQVIA Holdings Inc. (NYSE:IQV) by 13.9% in the second quarter, Holdings Channel reports. The institutional investor owned 19,045 shares of the medical research company’s stock after selling 3,069 shares during the quarter. Inspire Investing LLC’s holdings in IQVIA were worth $4,027,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new stake in shares of IQVIA in the 1st quarter worth about $31,000. Versant Capital Management Inc grew its stake in 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 in the last quarter. Riverview Trust Co bought a new stake in IQVIA in the first quarter valued at about $32,000. Opal Wealth Advisors LLC acquired a new stake in IQVIA during the second quarter valued at approximately $27,000. Finally, International Assets Investment Management LLC bought a new position in IQVIA during the 2nd quarter worth approximately $32,000. 89.62% of the stock is owned by institutional investors and hedge funds.

IQVIA Stock Performance

Shares of NYSE IQV opened at $242.67 on Thursday. IQVIA Holdings Inc. has a 1 year low of $167.42 and a 1 year high of $261.73. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a fifty day moving average price of $239.74 and a two-hundred day moving average price of $234.18. The firm has a market cap of $44.21 billion, a P/E ratio of 33.15, a PEG ratio of 2.24 and a beta of 1.49.

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, topping analysts’ consensus estimates 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 analyst estimates of $3.79 billion. During the same period in the previous year, the company earned $2.22 earnings per share. IQVIA’s revenue was up 2.3% compared to the same quarter last year. Research analysts forecast that IQVIA Holdings Inc. will post 10.25 EPS for the current fiscal year.

Insider Activity at IQVIA

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of IQVIA 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 $4,812,302.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IQV shares. Truist Financial boosted their price target on IQVIA from $292.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Barclays raised their price target 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. StockNews.com raised shares of IQVIA from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Morgan Stanley raised 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. Finally, JPMorgan Chase & Co. upped their target price on IQVIA from $260.00 to $288.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Four research 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.