2,569 IQVIA Holdings Inc. $IQV Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lessened its holdings in IQVIA Holdings Inc. (NYSE:IQV) by 33.3% in the third quarter, HoldingsChannel.com reports. The firm owned 5,150 shares of the medical research company’s stock after selling 2,569 shares during the period. Sterling Capital Management LLC’s holdings in IQVIA were worth $1,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Apella Capital LLC lifted its position in shares of IQVIA by 4.7% in the 3rd quarter. Apella Capital LLC now owns 1,235 shares of the medical research company’s stock worth $319,000 after buying an additional 55 shares during the last quarter. Breakwater Capital Group grew its position in shares of IQVIA by 3.2% during the 2nd quarter. Breakwater Capital Group now owns 2,073 shares of the medical research company’s stock valued at $401,000 after buying an additional 64 shares during the last quarter. Fortitude Family Office LLC grew its position in shares of IQVIA by 17.2% during the 3rd quarter. Fortitude Family Office LLC now owns 443 shares of the medical research company’s stock valued at $119,000 after buying an additional 65 shares during the last quarter. First Growth Capital LLC grew its position in shares of IQVIA by 3.2% during the 1st quarter. First Growth Capital LLC now owns 2,173 shares of the medical research company’s stock valued at $375,000 after buying an additional 68 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in IQVIA by 1.5% during the first quarter. Chicago Partners Investment Group LLC now owns 4,635 shares of the medical research company’s stock worth $812,000 after acquiring an additional 70 shares during the period. Institutional investors own 89.62% of the company’s stock.

Insider Buying and Selling

In other news, insider Bhavik Patel sold 1,855 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $235.27, for a total value of $436,425.85. Following the completion of the transaction, the insider owned 1,348 shares of the company’s stock, valued at approximately $317,143.96. This represents a 57.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Keriann Cherofsky sold 558 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $245.21, for a total value of $136,827.18. Following the transaction, the insider directly owned 2,989 shares in the company, valued at $732,932.69. This trade represents a 15.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 15,581 shares of company stock valued at $3,796,021. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on IQV shares. Rothschild & Co Redburn raised their target price on shares of IQVIA from $284.00 to $287.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Leerink Partners upped their target price on IQVIA from $280.00 to $310.00 and gave the company an “outperform” rating in a report on Thursday, October 8th. William Blair upgraded IQVIA to a “strong-buy” rating in a research report on Tuesday, July 28th. Morgan Stanley raised their price target on IQVIA from $240.00 to $270.00 and gave the stock an “equal weight” rating in a report on Thursday, September 17th. Finally, BMO Capital Markets boosted their price objective on IQVIA from $270.00 to $305.00 in a research report on Monday, October 19th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $278.75.

IQVIA Stock Performance

Shares of NYSE IQV opened at $273.80 on Tuesday. IQVIA Holdings Inc. has a 12-month low of $154.50 and a 12-month high of $282.98. The company has a market cap of $45.07 billion, a PE ratio of 24.59, a P/E/G ratio of 2.46 and a beta of 1.17. The stock has a 50 day simple moving average of $263.36 and a 200-day simple moving average of $209.63. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 2.18.

IQVIA (NYSE:IQV) last posted its earnings results on Tuesday, July 28th. The medical research company reported $3.15 EPS for the quarter, beating the consensus estimate of $3.03 by $0.12. IQVIA had a return on equity of 30.25% and a net margin of 8.10%. The firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period last year, the firm earned $2.81 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts forecast that IQVIA Holdings Inc. will post 11.54 EPS for the current year.

About IQVIA

IQVIA Holdings Inc is a global provider of technology, analytics and contract research services for the life sciences industry. The company helps pharmaceutical, biotechnology and medical device organizations develop, commercialize and improve products by combining healthcare data with advanced analytics, consulting and technology-enabled services.

Its offerings include clinical research and trial management, real-world evidence, healthcare data and analytics, regulatory and safety services, technology platforms, and commercial solutions.