Resona Asset Management Co. Ltd. Trims Stock Position in IQVIA Holdings Inc. $IQV

Resona Asset Management Co. Ltd. lowered its position in IQVIA Holdings Inc. (NYSE:IQV) by 6.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,234 shares of the medical research company’s stock after selling 3,909 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in IQVIA were worth $10,592,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in IQV. Brighton Jones LLC raised its stake in shares of IQVIA by 244.4% during the 4th quarter. Brighton Jones LLC now owns 3,575 shares of the medical research company’s stock worth $703,000 after buying an additional 2,537 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of IQVIA by 102.1% in the 1st quarter. Empowered Funds LLC now owns 9,728 shares of the medical research company’s stock valued at $1,715,000 after purchasing an additional 4,915 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of IQVIA in the second quarter worth $514,000. Farther Finance Advisors LLC raised its stake in shares of IQVIA by 34.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 398 shares of the medical research company’s stock worth $63,000 after purchasing an additional 101 shares in the last quarter. Finally, ST Germain D J Co. Inc. lifted its stake in IQVIA by 136.1% in the second quarter. ST Germain D J Co. Inc. now owns 451 shares of the medical research company’s stock valued at $71,000 after acquiring an additional 260 shares during the last quarter. Institutional investors and hedge funds own 89.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IQV. TD Cowen raised their target price on shares of IQVIA from $215.00 to $245.00 and gave the company a “hold” rating in a research note on Thursday. Robert W. Baird set a $258.00 price objective on IQVIA and gave the company an “outperform” rating in a research report on Wednesday, October 29th. BMO Capital Markets initiated coverage on shares of IQVIA in a research report on Thursday, November 13th. They issued an “outperform” rating and a $260.00 price target for the company. Barclays set a $230.00 price objective on IQVIA in a research note on Monday, December 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of IQVIA in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, IQVIA has a consensus rating of “Moderate Buy” and an average price target of $251.06.

IQVIA Stock Performance

Shares of IQVIA stock opened at $239.28 on Tuesday. The firm has a market cap of $40.75 billion, a price-to-earnings ratio of 32.82, a price-to-earnings-growth ratio of 2.39 and a beta of 1.36. IQVIA Holdings Inc. has a one year low of $134.65 and a one year high of $247.04. The stock’s 50-day moving average is $229.57 and its 200-day moving average is $206.73. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.70 and a quick ratio of 0.70.

IQVIA (NYSE:IQV) last released its earnings results on Tuesday, October 28th. The medical research company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.02. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.07 billion. IQVIA had a return on equity of 30.70% and a net margin of 8.07%.IQVIA’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.84 earnings per share. Equities analysts predict that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal year.

Insider Transactions at IQVIA

In other news, insider Eric Sherbet sold 4,000 shares of the stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $219.70, for a total value of $878,800.00. Following the transaction, the insider directly owned 27,108 shares of the company’s stock, valued at $5,955,627.60. This represents a 12.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

IQVIA Company Profile

IQVIA (NYSE: IQV) is a global provider of advanced analytics, technology solutions and contract research services to the life sciences industry. The company combines clinical research capabilities with large-scale health data and analytics to support drug development, regulatory reporting, commercial strategy and real?world evidence generation. IQVIA traces its current form to the combination of Quintiles and IMS Health announced in 2016 and subsequently rebranded as IQVIA, bringing together long-established clinical research operations and extensive healthcare information assets.

IQVIA’s principal activities include outsourced clinical development services (acting as a contract research organization for phases I–IV), real?world evidence and observational research, regulatory and safety services, and a suite of technology platforms that enable data integration, analytics and operational management.