State of Alaska Department of Revenue raised its stake in IQVIA Holdings Inc. (NYSE:IQV – Get Rating) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,085 shares of the medical research company’s stock after purchasing an additional 366 shares during the period. State of Alaska Department of Revenue’s holdings in IQVIA were worth $6,310,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of IQVIA during the fourth quarter worth about $509,423,000. Parnassus Investments LLC acquired a new position in IQVIA during the first quarter worth approximately $175,759,000. 1832 Asset Management L.P. lifted its stake in IQVIA by 1,061.8% in the fourth quarter. 1832 Asset Management L.P. now owns 598,612 shares of the medical research company’s stock valued at $169,094,000 after buying an additional 547,089 shares during the last quarter. Boston Partners grew its position in shares of IQVIA by 10,521.5% during the first quarter. Boston Partners now owns 537,343 shares of the medical research company’s stock worth $124,262,000 after acquiring an additional 532,284 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of IQVIA by 4.6% in the 1st quarter. State Street Corp now owns 8,306,345 shares of the medical research company’s stock valued at $1,920,510,000 after acquiring an additional 362,541 shares during the period. Institutional investors and hedge funds own 86.77% of the company’s stock.
Analyst Ratings Changes
A number of research firms have commented on IQV. Evercore ISI lifted their price objective on shares of IQVIA from $265.00 to $275.00 in a research note on Friday, July 22nd. SVB Leerink initiated coverage on IQVIA in a research note on Friday, July 15th. They set an “outperform” rating and a $256.00 price objective for the company. Argus lifted their target price on IQVIA from $260.00 to $275.00 in a research note on Thursday, August 18th. Robert W. Baird upped their price target on IQVIA from $260.00 to $265.00 in a research note on Friday, July 22nd. Finally, Morgan Stanley lifted their price objective on shares of IQVIA from $255.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, July 22nd. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $275.00.
IQVIA Trading Down 0.7 %
IQVIA (NYSE:IQV – Get Rating) last released its quarterly earnings results on Thursday, July 21st. The medical research company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.22. The business had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.49 billion. IQVIA had a return on equity of 30.21% and a net margin of 8.21%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.94 EPS. On average, research analysts predict that IQVIA Holdings Inc. will post 9.4 earnings per share for the current fiscal year.
IQVIA Holdings Inc provides 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.
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