Simplify Asset Management Inc. Buys Shares of 5,743 IQVIA Holdings Inc. (NYSE:IQV)

Simplify Asset Management Inc. bought a new position in shares of IQVIA Holdings Inc. (NYSE:IQV) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,743 shares of the medical research company’s stock, valued at approximately $1,214,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jennison Associates LLC grew its holdings in IQVIA by 7.3% in the 1st quarter. Jennison Associates LLC now owns 140,914 shares of the medical research company’s stock valued at $35,636,000 after buying an additional 9,578 shares in the last quarter. Cadian Capital Management LP bought a new position in IQVIA during the 4th quarter worth $70,108,000. Nomura Holdings Inc. bought a new stake in IQVIA during the fourth quarter worth about $857,000. PGGM Investments boosted its holdings in shares of 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 in the last quarter. Finally, Fiduciary Alliance LLC acquired a new position in shares of IQVIA during the 1st quarter worth $1,864,000. 89.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on IQV shares. StockNews.com upgraded IQVIA from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Evercore ISI lifted their price target on shares of IQVIA from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Royal Bank of Canada started coverage on shares of IQVIA in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $275.00 price objective for the company. Barclays boosted 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. Finally, Argus upgraded shares of IQVIA to a “strong-buy” rating in a report on Wednesday, July 31st. Four 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $266.67.

Insider Activity at IQVIA

In related news, insider Eric Sherbet sold 1,300 shares of the stock in a transaction 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 transaction, the insider now owns 19,536 shares of the company’s stock, valued at $4,812,302.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by insiders.

IQVIA Trading Up 0.8 %

Shares of IQVIA stock opened at $244.62 on Friday. The stock has a fifty day moving average price of $240.24 and a 200-day moving average price of $234.25. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.85 and a quick ratio of 0.85. IQVIA Holdings Inc. has a 1 year low of $167.42 and a 1 year high of $261.73. The firm has a market cap of $44.57 billion, a PE ratio of 33.42, a P/E/G ratio of 2.24 and a beta of 1.49.

IQVIA (NYSE:IQV) last released its quarterly earnings data 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. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The company 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 posted $2.22 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that IQVIA Holdings Inc. will post 10.25 EPS for the current year.

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.