Sei Investments Co. Grows Stock Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Sei Investments Co. boosted its stake in IQVIA Holdings Inc. (NYSE:IQV) by 42.1% in the second quarter, HoldingsChannel reports. The firm owned 82,250 shares of the medical research company’s stock after acquiring an additional 24,363 shares during the period. Sei Investments Co.’s holdings in IQVIA were worth $17,390,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in shares of IQVIA in the first quarter worth $31,000. Versant Capital Management Inc grew its stake in shares of IQVIA by 733.3% during the 2nd quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 110 shares during the period. Riverview Trust Co purchased a new stake in shares of IQVIA during the 1st quarter valued at about $32,000. Opal Wealth Advisors LLC bought a new position in shares of IQVIA in the 2nd quarter worth approximately $27,000. Finally, International Assets Investment Management LLC purchased a new position in shares of IQVIA in the second quarter worth approximately $32,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Eric Sherbet sold 1,300 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total transaction of $320,229.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

IQVIA Price Performance

Shares of NYSE:IQV opened at $231.71 on Thursday. 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 firm has a market cap of $42.24 billion, a price-to-earnings ratio of 31.65, a P/E/G ratio of 2.26 and a beta of 1.49. The firm has a fifty day moving average price of $241.03 and a 200 day moving average price of $233.69. IQVIA Holdings Inc. has a fifty-two week low of $167.42 and a fifty-two week high of $261.73.

IQVIA (NYSE:IQV) last issued its quarterly earnings data on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.07. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.79 billion. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.22 earnings per share. As a group, sell-side analysts expect that IQVIA Holdings Inc. will post 10.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on IQV. Robert W. Baird increased their price target on shares of IQVIA from $251.00 to $256.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Barclays lifted their target price on IQVIA from $255.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Morgan Stanley upped their price target on IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Argus raised IQVIA to a “strong-buy” rating in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group initiated coverage on shares of IQVIA in a report on Thursday, June 6th. They issued a “buy” rating and a $270.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $267.00.

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.