Fosun International Ltd Trims Position in IQVIA Holdings Inc. (NYSE:IQV)

Fosun International Ltd lessened its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 21.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,000 shares of the medical research company’s stock after selling 550 shares during the quarter. Fosun International Ltd’s holdings in IQVIA were worth $463,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Los Angeles Capital Management LLC grew its holdings in shares of IQVIA by 17.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 118,616 shares of the medical research company’s stock worth $27,445,000 after purchasing an additional 17,677 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of IQVIA during the fourth quarter worth about $13,759,000. Schwartz Investment Counsel Inc. grew its holdings in shares of IQVIA by 4.1% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 178,690 shares of the medical research company’s stock worth $41,345,000 after purchasing an additional 7,050 shares in the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in IQVIA in the 4th quarter worth approximately $986,000. Finally, Dfpg Investments LLC bought a new stake in IQVIA in the 4th quarter worth approximately $1,106,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.

IQVIA Stock Up 0.5 %

IQV stock traded up $1.20 during midday trading on Thursday, hitting $229.08. The stock had a trading volume of 54,439 shares, compared to its average volume of 954,569. The firm has a market cap of $41.74 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 2.16 and a beta of 1.52. The business has a 50-day moving average of $243.28 and a two-hundred day moving average of $225.03. IQVIA Holdings Inc. has a 52-week low of $167.42 and a 52-week high of $261.73. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.88 and a quick ratio of 0.88.

IQVIA (NYSE:IQV) last released its earnings results on Wednesday, February 14th. The medical research company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.02. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.80 billion. IQVIA had a return on equity of 29.17% and a net margin of 9.01%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.54 earnings per share. As a group, equities research analysts forecast that IQVIA Holdings Inc. will post 10.12 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Eric Sherbet sold 1,000 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $241.50, for a total transaction of $241,500.00. Following the transaction, the insider now directly owns 20,836 shares of the company’s stock, valued at $5,031,894. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other IQVIA news, insider Eric Sherbet sold 1,000 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $241.50, for a total value of $241,500.00. Following the transaction, the insider now owns 20,836 shares of the company’s stock, valued at $5,031,894. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kevin C. Knightly sold 8,607 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total value of $2,153,213.19. Following the completion of the transaction, the insider now directly owns 5,251 shares in the company, valued at approximately $1,313,642.67. The disclosure for this sale can be found here. Insiders have sold a total of 41,285 shares of company stock valued at $10,331,003 over the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on IQV shares. Guggenheim downgraded IQVIA from a “buy” rating to a “neutral” rating in a research report on Thursday, February 15th. UBS Group boosted their target price on IQVIA from $240.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Robert W. Baird dropped their target price on IQVIA from $254.00 to $245.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Truist Financial lowered their price objective on IQVIA from $297.00 to $292.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of IQVIA in a research report on Monday, February 26th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $257.57.

IQVIA Profile

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.