IQVIA Holdings Inc. (NYSE:IQV) Stake Lifted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its position in shares of IQVIA Holdings Inc. (NYSE:IQV) by 18.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,364 shares of the medical research company’s stock after purchasing an additional 7,804 shares during the period. PNC Financial Services Group Inc.’s holdings in IQVIA were worth $11,935,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its holdings in IQVIA by 45.3% in the 1st quarter. Covestor Ltd now owns 154 shares of the medical research company’s stock valued at $39,000 after acquiring an additional 48 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in IQVIA by 106.4% during the first quarter. Advisors Asset Management Inc. now owns 1,298 shares of the medical research company’s stock valued at $328,000 after purchasing an additional 669 shares during the last quarter. Quadrature Capital Ltd acquired a new position in IQVIA in the first quarter worth approximately $3,365,000. LRI Investments LLC bought a new position in shares of IQVIA in the first quarter valued at $157,000. Finally, Magnetar Financial LLC acquired a new stake in shares of IQVIA during the 1st quarter valued at $2,066,000. 89.62% of the stock is currently owned by institutional investors and hedge funds.

IQVIA Price Performance

NYSE IQV opened at $201.82 on Friday. The company has a 50 day moving average price of $222.67 and a two-hundred day moving average price of $227.18. IQVIA Holdings Inc. has a 12-month low of $187.62 and a 12-month high of $261.73. The stock has a market capitalization of $36.63 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 1.97 and a beta of 1.51. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.76.

Insider Activity at IQVIA

In related news, insider Eric Sherbet sold 1,300 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 19,536 shares in the company, valued at approximately $4,812,302.88. The trade was a 6.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

IQV has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their target price on IQVIA from $279.00 to $240.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Barclays decreased their target price on shares of IQVIA from $260.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Argus upgraded shares of IQVIA to a “strong-buy” rating in a report on Wednesday, July 31st. Redburn Atlantic initiated coverage on shares of IQVIA in a research note on Monday, October 14th. They issued a “buy” rating and a $276.00 price objective for the company. Finally, BTIG Research cut their target price on shares of IQVIA from $290.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, IQVIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.50.

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.