Amalgamated Bank Sells 2,629 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Amalgamated Bank trimmed its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 6.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,979 shares of the medical research company’s stock after selling 2,629 shares during the quarter. Amalgamated Bank’s holdings in IQVIA were worth $7,819,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Jennison Associates LLC boosted its holdings in shares of IQVIA by 7.3% during the 1st quarter. Jennison Associates LLC now owns 140,914 shares of the medical research company’s stock worth $35,636,000 after buying an additional 9,578 shares during the period. Cadian Capital Management LP bought a new position in shares of IQVIA during the fourth quarter worth approximately $70,108,000. Nomura Holdings Inc. acquired a new stake in IQVIA during the 4th quarter worth approximately $857,000. PGGM Investments boosted its stake in IQVIA by 55.8% in the 2nd quarter. PGGM Investments now owns 12,073 shares of the medical research company’s stock valued at $2,553,000 after purchasing an additional 4,326 shares during the period. Finally, Fiduciary Alliance LLC acquired a new position in IQVIA in the 1st quarter valued at $1,864,000. 89.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IQV has been the subject of a number of recent research reports. Jefferies Financial Group cut shares of IQVIA from a “buy” rating to a “hold” rating and reduced their target price for the company from $266.00 to $242.00 in a research report on Wednesday, July 24th. Argus upgraded shares of IQVIA to a “strong-buy” rating in a research report on Wednesday, July 31st. 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. Royal Bank of Canada initiated coverage on IQVIA in a research note on Wednesday, September 4th. They set an “outperform” rating and a $275.00 price objective on the stock. Finally, The Goldman Sachs Group started coverage on IQVIA in a research report on Thursday, June 6th. They set a “buy” rating and a $270.00 target price for the company. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, IQVIA currently has an average rating of “Moderate Buy” and a consensus price target of $266.67.

IQVIA Price Performance

Shares of NYSE:IQV opened at $244.62 on Friday. IQVIA Holdings Inc. has a one year low of $167.42 and a one year high of $261.73. 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 market cap of $44.57 billion, a price-to-earnings ratio of 33.42, a PEG ratio of 2.24 and a beta of 1.49. The firm has a 50 day simple moving average of $240.24 and a 200 day simple moving average of $234.25.

IQVIA (NYSE:IQV) last announced its quarterly earnings results on Monday, July 22nd. The medical research company reported $2.64 EPS for the quarter, beating 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 company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the prior year, the company earned $2.22 EPS. IQVIA’s revenue was up 2.3% compared to the same quarter last year. Research analysts predict that IQVIA Holdings Inc. will post 10.25 earnings per share for the current fiscal year.

Insider Transactions at IQVIA

In related 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 transaction of $320,229.00. Following the sale, the insider now directly owns 19,536 shares in the company, valued at approximately $4,812,302.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

IQVIA 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.