Eric Sherbet Sells 1,300 Shares of IQVIA Holdings Inc. (NYSE:IQV) Stock

IQVIA Holdings Inc. (NYSE:IQV) insider Eric Sherbet sold 1,300 shares of the company’s stock in a transaction dated 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 owns 19,536 shares in the company, valued at $4,812,302.88. The sale was disclosed in a filing with the SEC, which is available at this link.

IQVIA Price Performance

NYSE IQV opened at $251.54 on Friday. 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 firm’s 50 day moving average price is $231.33 and its 200-day moving average price is $234.20. IQVIA Holdings Inc. has a 52-week low of $167.42 and a 52-week high of $261.73. The company has a market cap of $45.83 billion, a PE ratio of 34.36, a P/E/G ratio of 2.26 and a beta of 1.49.

IQVIA (NYSE:IQV) last released its quarterly earnings data on Monday, July 22nd. The medical research company reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.07. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same period last year, the firm earned $2.22 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Sell-side analysts forecast that IQVIA Holdings Inc. will post 10.24 EPS for the current fiscal year.

Hedge Funds Weigh In On IQVIA

A number of hedge funds and other institutional investors have recently modified their holdings of IQV. Brown Financial Advisors purchased a new stake in IQVIA during the second quarter valued at approximately $642,000. Dana Investment Advisors Inc. lifted its position in IQVIA by 7.4% during the second quarter. Dana Investment Advisors Inc. now owns 87,145 shares of the medical research company’s stock valued at $18,426,000 after acquiring an additional 6,019 shares during the last quarter. Cetera Investment Advisers lifted its position in IQVIA by 3.3% during the second quarter. Cetera Investment Advisers now owns 71,602 shares of the medical research company’s stock valued at $15,140,000 after acquiring an additional 2,272 shares during the last quarter. Heartland Bank & Trust Co purchased a new stake in IQVIA during the second quarter valued at approximately $254,000. Finally, SPC Financial Inc. purchased a new stake in IQVIA during the second quarter valued at approximately $217,000. 89.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IQV. Morgan Stanley upped their target price on shares of IQVIA from $270.00 to $280.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group initiated coverage on shares of IQVIA in a report on Thursday, June 6th. They set a “buy” rating and a $270.00 price target on the stock. Barclays upped their price target on shares of IQVIA from $255.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. StockNews.com downgraded shares of IQVIA from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Evercore ISI upped their price target on shares of IQVIA from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $265.67.

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.