Cullen Investment Group LTD. Has $4.81 Million Stock Position in IQVIA Holdings Inc. (NYSE:IQV)

Cullen Investment Group LTD. increased its stake in IQVIA Holdings Inc. (NYSE:IQV) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,308 shares of the medical research company’s stock after buying an additional 458 shares during the quarter. Cullen Investment Group LTD.’s holdings in IQVIA were worth $4,812,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of IQVIA by 339.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,067,195 shares of the medical research company’s stock valued at $478,308,000 after purchasing an additional 1,597,003 shares during the period. 1832 Asset Management L.P. raised its position in shares of IQVIA by 472.3% in the second quarter. 1832 Asset Management L.P. now owns 456,335 shares of the medical research company’s stock valued at $96,487,000 after purchasing an additional 376,595 shares during the period. Renaissance Technologies LLC acquired a new position in IQVIA in the 2nd quarter valued at about $70,610,000. Cadian Capital Management LP acquired a new stake in IQVIA during the 4th quarter worth approximately $70,108,000. Finally, Impax Asset Management Group plc lifted its holdings in shares of IQVIA by 19.3% during the second quarter. Impax Asset Management Group plc now owns 1,635,201 shares of the medical research company’s stock worth $344,998,000 after buying an additional 264,555 shares in the last quarter. 89.62% of the stock is owned by institutional investors.

IQVIA Stock Up 1.1 %

IQV traded up $2.44 during midday trading on Friday, hitting $229.84. The company had a trading volume of 591,239 shares, compared to its average volume of 1,077,197. The stock’s 50 day moving average price is $240.74 and its 200 day moving average price is $232.70. IQVIA Holdings Inc. has a 52 week low of $167.42 and a 52 week high of $261.73. The company has a market capitalization of $41.88 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 2.21 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 announced its quarterly earnings data on Monday, July 22nd. The medical research company reported $2.64 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 firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter last year, the firm posted $2.22 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts anticipate that IQVIA Holdings Inc. will post 10.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IQV has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on IQVIA from $260.00 to $288.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Truist Financial upped their price objective on shares of IQVIA from $292.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley boosted their price objective on shares of IQVIA from $270.00 to $280.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada started coverage on IQVIA in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $275.00 price target on the stock. Finally, Robert W. Baird increased their target price on shares of IQVIA from $251.00 to $256.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $267.00.

Insider Buying and Selling at IQVIA

In other news, insider Eric Sherbet sold 1,300 shares of the firm’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 transaction, the insider now owns 19,536 shares in the company, valued at $4,812,302.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

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.