Jennison Associates LLC Reduces Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Jennison Associates LLC cut its position in shares of IQVIA Holdings Inc. (NYSE:IQV) by 17.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,336 shares of the medical research company’s stock after selling 27,163 shares during the quarter. Jennison Associates LLC owned approximately 0.07% of IQVIA worth $30,389,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC grew its holdings in shares of IQVIA by 5.5% during the fourth quarter. CWM LLC now owns 3,980 shares of the medical research company’s stock worth $921,000 after buying an additional 207 shares in the last quarter. Signaturefd LLC grew its holdings in shares of IQVIA by 13.0% during the fourth quarter. Signaturefd LLC now owns 2,492 shares of the medical research company’s stock worth $577,000 after buying an additional 287 shares in the last quarter. Carmel Capital Partners LLC grew its holdings in shares of IQVIA by 1.0% during the fourth quarter. Carmel Capital Partners LLC now owns 6,610 shares of the medical research company’s stock worth $1,529,000 after buying an additional 67 shares in the last quarter. abrdn plc grew its holdings in shares of IQVIA by 138.3% during the fourth quarter. abrdn plc now owns 108,151 shares of the medical research company’s stock worth $25,024,000 after buying an additional 62,776 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its holdings in IQVIA by 0.5% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 119,262 shares of the medical research company’s stock valued at $27,595,000 after purchasing an additional 600 shares during the period. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IQV. StockNews.com upgraded shares of IQVIA from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Barclays boosted their target price on shares of IQVIA from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Evercore ISI boosted their target price on shares of IQVIA from $255.00 to $265.00 and gave the company a “market outperform” rating in a report on Thursday, February 15th. Robert W. Baird boosted their target price on shares of IQVIA from $226.00 to $251.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Finally, Truist Financial boosted their target price on shares of IQVIA from $286.00 to $297.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, IQVIA currently has a consensus rating of “Moderate Buy” and an average target price of $256.80.

Insider Buying and Selling at IQVIA

In other IQVIA news, insider Kevin C. Knightly sold 8,607 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total transaction of $2,153,213.19. Following the transaction, the insider now directly owns 5,251 shares in the company, valued at approximately $1,313,642.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other IQVIA news, insider Kevin C. Knightly sold 8,607 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total transaction of $2,153,213.19. Following the transaction, the insider now directly owns 5,251 shares in the company, valued at approximately $1,313,642.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ari Bousbib sold 31,678 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the sale, the insider now directly owns 796,752 shares in the company, valued at $199,610,278.56. The disclosure for this sale can be found here. Insiders have sold 41,285 shares of company stock worth $10,331,003 in the last ninety days. 1.60% of the stock is owned by insiders.

IQVIA Price Performance

Shares of IQV stock opened at $240.84 on Thursday. The company has a market capitalization of $43.71 billion, a PE ratio of 33.04, a price-to-earnings-growth ratio of 2.31 and a beta of 1.50. The firm has a fifty day simple moving average of $245.50 and a 200-day simple moving average of $222.69. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 2.12. IQVIA Holdings Inc. has a twelve month low of $167.42 and a twelve month high of $261.73.

IQVIA (NYSE:IQV) last posted its quarterly earnings data on Wednesday, February 14th. The medical research company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.02. IQVIA had a net margin of 9.06% and a return on equity of 29.32%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same period in the prior year, the firm posted $2.54 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that IQVIA Holdings Inc. will post 10.11 earnings per share for the current fiscal year.

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.