The Manufacturers Life Insurance Company Has $95.31 Million Holdings in IQVIA Holdings Inc. (NYSE:IQV)

The Manufacturers Life Insurance Company cut its stake in IQVIA Holdings Inc. (NYSE:IQV) by 3.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 450,744 shares of the medical research company’s stock after selling 18,205 shares during the period. The Manufacturers Life Insurance Company owned 0.25% of IQVIA worth $95,305,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of IQV. Versant Capital Management Inc raised its stake in shares of IQVIA by 733.3% in the second quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock worth $26,000 after acquiring an additional 110 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of IQVIA in the second quarter worth about $27,000. Itau Unibanco Holding S.A. bought a new position in shares of IQVIA in the second quarter worth about $29,000. Rise Advisors LLC bought a new position in shares of IQVIA in the first quarter worth about $31,000. Finally, Riverview Trust Co bought a new position in shares of IQVIA in the first quarter worth about $32,000. 89.62% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Eric Sherbet sold 1,300 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 19,536 shares in the company, valued at $4,812,302.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IQV shares. Evercore ISI boosted their target price on shares of IQVIA from $230.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada began coverage on shares of IQVIA in a research note on Wednesday, September 4th. They set an “outperform” rating and a $275.00 price target for the company. StockNews.com downgraded shares of IQVIA from a “buy” rating to a “hold” rating in a research note on Friday. UBS Group boosted their price target on shares of IQVIA from $295.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group downgraded shares of IQVIA from a “buy” rating to a “hold” rating and dropped their price target for the stock from $266.00 to $242.00 in a research note on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, IQVIA currently has a consensus rating of “Moderate Buy” and an average price target of $267.00.

IQVIA Stock Down 0.6 %

IQVIA stock opened at $234.79 on Friday. The stock has a market capitalization of $42.80 billion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 2.25 and a beta of 1.49. IQVIA Holdings Inc. has a twelve month low of $167.42 and a twelve month high of $261.73. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.80. The company has a 50 day moving average of $241.49 and a 200-day moving average of $233.52.

IQVIA (NYSE:IQV) last released its quarterly earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.07. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.79 billion. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.22 earnings per share. On average, equities research analysts anticipate that IQVIA Holdings Inc. will post 10.25 EPS for the current fiscal 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.