Goelzer Investment Management Inc. Lowers Stock Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Goelzer Investment Management Inc. cut its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,952 shares of the medical research company’s stock after selling 400 shares during the quarter. Goelzer Investment Management Inc.’s holdings in IQVIA were worth $4,728,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its holdings in shares of IQVIA by 21.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 837,865 shares of the medical research company’s stock worth $193,865,000 after buying an additional 148,568 shares during the period. Cibc World Markets Corp grew its holdings in IQVIA by 133.3% during the 4th quarter. Cibc World Markets Corp now owns 23,577 shares of the medical research company’s stock worth $5,455,000 after acquiring an additional 13,470 shares in the last quarter. Pinebridge Investments L.P. increased its position in IQVIA by 31.0% during the 4th quarter. Pinebridge Investments L.P. now owns 15,366 shares of the medical research company’s stock valued at $3,555,000 after purchasing an additional 3,639 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of IQVIA by 3.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 503,431 shares of the medical research company’s stock valued at $116,484,000 after purchasing an additional 14,875 shares in the last quarter. Finally, Prudential PLC lifted its position in shares of IQVIA by 226.4% in the 4th quarter. Prudential PLC now owns 20,594 shares of the medical research company’s stock worth $4,765,000 after purchasing an additional 14,284 shares during the period. Institutional investors own 89.62% of the company’s stock.

Analyst Upgrades and Downgrades

IQV has been the topic of several research reports. Barclays lifted their price objective on shares of IQVIA from $255.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Truist Financial lifted their price target on IQVIA from $292.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada began coverage on IQVIA in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $275.00 price target for the company. UBS Group raised their price objective on IQVIA from $295.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of IQVIA from $260.00 to $288.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $267.00.

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 shares were sold at an average price of $246.33, for a total transaction of $320,229.00. Following the sale, the insider now directly owns 19,536 shares of the company’s stock, valued at approximately $4,812,302.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

IQVIA Stock Performance

Shares of NYSE IQV traded up $2.44 during mid-day trading on Friday, hitting $229.84. The stock had a trading volume of 591,239 shares, compared to its average volume of 1,077,197. The firm has a market cap of $41.88 billion, a PE ratio of 31.40, a PEG ratio of 2.21 and a beta of 1.49. 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 company has a 50 day moving average of $240.74 and a two-hundred day moving average of $232.70. IQVIA Holdings Inc. has a twelve month low of $167.42 and a twelve month high of $261.73.

IQVIA (NYSE:IQV) last announced its quarterly earnings results 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. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.79 billion. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $2.22 EPS. Research analysts predict 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.