ProShare Advisors LLC Acquires 1,858 Shares of IQVIA Holdings Inc. (NYSE:IQV)

ProShare Advisors LLC boosted its holdings in IQVIA Holdings Inc. (NYSE:IQV) by 6.2% during the 2nd quarter, Holdings Channel reports. The firm owned 31,901 shares of the medical research company’s stock after acquiring an additional 1,858 shares during the period. ProShare Advisors LLC’s holdings in IQVIA were worth $6,745,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Sei Investments Co. boosted its stake in IQVIA by 42.1% in the second quarter. Sei Investments Co. now owns 82,250 shares of the medical research company’s stock valued at $17,390,000 after acquiring an additional 24,363 shares during the last quarter. Pacer Advisors Inc. lifted its stake in IQVIA by 16.9% in the second quarter. Pacer Advisors Inc. now owns 17,410 shares of the medical research company’s stock valued at $3,681,000 after purchasing an additional 2,521 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in IQVIA by 0.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 150,928 shares of the medical research company’s stock valued at $31,912,000 after purchasing an additional 403 shares during the period. AE Wealth Management LLC increased its position in IQVIA by 10.3% in the second quarter. AE Wealth Management LLC now owns 15,362 shares of the medical research company’s stock worth $3,248,000 after buying an additional 1,431 shares during the last quarter. Finally, Simplify Asset Management Inc. bought a new stake in shares of IQVIA in the second quarter valued at $1,214,000. Institutional investors own 89.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Royal Bank of Canada assumed coverage on IQVIA in a report on Wednesday, September 4th. They issued an “outperform” rating and a $275.00 price objective for the company. Jefferies Financial Group lowered shares of IQVIA from a “buy” rating to a “hold” rating and lowered their price target for the company from $266.00 to $242.00 in a research report on Wednesday, July 24th. StockNews.com raised shares of IQVIA from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Barclays lifted their price objective on shares of IQVIA from $255.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. increased their target price on IQVIA from $260.00 to $288.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, IQVIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $267.00.

IQVIA Price Performance

IQVIA stock opened at $231.71 on Thursday. The business has a 50-day simple moving average of $241.03 and a 200 day simple moving average of $233.69. IQVIA Holdings Inc. has a 52 week low of $167.42 and a 52 week high of $261.73. The stock has a market cap of $42.24 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 2.26 and a beta of 1.49. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.80.

IQVIA (NYSE:IQV) last posted its quarterly earnings data on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.07. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the prior year, the business earned $2.22 earnings per share. IQVIA’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts forecast 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 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.

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.