California State Teachers Retirement System Reduces Stake in IQVIA Holdings Inc. (NYSE:IQV)

California State Teachers Retirement System lessened its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV – Get Rating) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 310,847 shares of the medical research company’s stock after selling 6,528 shares during the period. California State Teachers Retirement System’s holdings in IQVIA were worth $56,307,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bishop Rock Capital L.P. lifted its position in shares of IQVIA by 14,549.4% during the 2nd quarter. Bishop Rock Capital L.P. now owns 4,050,552 shares of the medical research company’s stock worth $18,667,000 after buying an additional 4,022,902 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in IQVIA by 1,170.9% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,364,641 shares of the medical research company’s stock valued at $247,191,000 after acquiring an additional 1,257,263 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of IQVIA by 20.1% during the third quarter. Alliancebernstein L.P. now owns 5,157,158 shares of the medical research company’s stock worth $934,167,000 after purchasing an additional 862,222 shares during the last quarter. Marshall Wace LLP increased its position in shares of IQVIA by 570.5% during the third quarter. Marshall Wace LLP now owns 417,789 shares of the medical research company’s stock worth $75,678,000 after purchasing an additional 355,482 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of IQVIA by 3.8% in the 2nd quarter. State Street Corp now owns 8,622,096 shares of the medical research company’s stock valued at $1,870,909,000 after purchasing an additional 315,751 shares during the last quarter. Hedge funds and other institutional investors own 86.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Cowen initiated coverage on IQVIA in a research report on Tuesday, December 6th. They set an “outperform” rating on the stock. Credit Suisse Group reiterated an “outperform” rating and set a $265.00 price target on shares of IQVIA in a research note on Monday, February 13th. Cowen began coverage on shares of IQVIA in a report on Tuesday, December 6th. They issued an “outperform” rating and a $251.00 target price for the company. JPMorgan Chase & Co. raised their price target on IQVIA from $257.00 to $263.00 and gave the stock an “overweight” rating in a report on Monday, February 27th. Finally, Robert W. Baird reduced their price objective on IQVIA from $266.00 to $260.00 and set an “outperform” rating for the company in a research note on Friday, January 13th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, IQVIA has an average rating of “Moderate Buy” and a consensus target price of $256.27.

IQVIA Stock Up 0.6 %

IQV opened at $196.43 on Friday. The business has a 50 day simple moving average of $219.23 and a 200-day simple moving average of $208.91. IQVIA Holdings Inc. has a 12 month low of $165.75 and a 12 month high of $254.94. The stock has a market capitalization of $36.56 billion, a P/E ratio of 34.40, a P/E/G ratio of 1.94 and a beta of 1.40. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.89 and a quick ratio of 0.89.

IQVIA (NYSE:IQV – Get Rating) last issued its earnings results on Friday, February 10th. The medical research company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.76 by $0.02. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.71 billion. IQVIA had a net margin of 7.57% and a return on equity of 31.88%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.42 EPS. On average, equities analysts anticipate that IQVIA Holdings Inc. will post 9.51 earnings per share for the current fiscal year.

Insider Buying and Selling at IQVIA

In other news, insider Kevin C. Knightly sold 4,446 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $225.61, for a total transaction of $1,003,062.06. Following the sale, the insider now owns 1,973 shares of the company’s stock, valued at approximately $445,128.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Eric Sherbet sold 1,000 shares of the stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the sale, the insider now directly owns 17,053 shares of the company’s stock, valued at approximately $3,922,190. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kevin C. Knightly sold 4,446 shares of the stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $225.61, for a total transaction of $1,003,062.06. Following the completion of the sale, the insider now owns 1,973 shares in the company, valued at $445,128.53. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

IQVIA Company Profile

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IQVIA Holdings, Inc engages in the provision of analytics, technology solutions, and clinical research services to the life sciences industry. It operates through the following segments: Technology and Analytics Solutions, Research and Development Solutions, and Contract Sales and Medical Solutions. The Technology and Analytics Solutions segment supplies mission critical information, technology solutions, and real-world solutions and services to the firm’s life science clients.