Virtu Financial LLC Grows Stake in IQVIA Holdings Inc. (NYSE:IQV)

Virtu Financial LLC boosted its position in IQVIA Holdings Inc. (NYSE:IQV) by 302.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 15,574 shares of the medical research company’s stock after acquiring an additional 11,701 shares during the quarter. Virtu Financial LLC’s holdings in IQVIA were worth $3,293,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its position in shares of IQVIA by 7.3% in the 1st quarter. Jennison Associates LLC now owns 140,914 shares of the medical research company’s stock worth $35,636,000 after buying an additional 9,578 shares during the last quarter. Cadian Capital Management LP bought a new position in IQVIA in the fourth quarter worth about $70,108,000. Nomura Holdings Inc. acquired a new position in IQVIA in the fourth quarter valued at approximately $857,000. PGGM Investments lifted its holdings in shares of IQVIA by 55.8% in the 2nd quarter. PGGM Investments now owns 12,073 shares of the medical research company’s stock worth $2,553,000 after purchasing an additional 4,326 shares during the last quarter. Finally, Fiduciary Alliance LLC bought a new stake in IQVIA in the first quarter valued at $1,864,000. 89.62% of the stock is owned by hedge funds and other institutional investors.

IQVIA Stock Up 0.3 %

NYSE IQV opened at $239.38 on Tuesday. The firm has a 50-day simple moving average of $238.59 and a 200 day simple moving average of $234.21. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $43.64 billion, a PE ratio of 32.70, a PEG ratio of 2.24 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.

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

Insiders Place Their Bets

In related news, insider Eric Sherbet sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 owns 19,536 shares of the company’s stock, valued at $4,812,302.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IQV. Jefferies Financial Group cut IQVIA from a “buy” rating to a “hold” rating and lowered their target price for the company from $266.00 to $242.00 in a research report on Wednesday, July 24th. Robert W. Baird boosted their target price on shares of IQVIA from $235.00 to $251.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. StockNews.com upgraded IQVIA from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Morgan Stanley lifted their price objective on shares of IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Finally, Evercore ISI raised their price target on IQVIA from $230.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $266.67.

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.