Whittier Trust Co. of Nevada Inc. Trims Holdings in IQVIA Holdings Inc. $IQV

Whittier Trust Co. of Nevada Inc. reduced its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 90.0% during the third quarter, Holdings Channel reports. The fund owned 5,484 shares of the medical research company’s stock after selling 49,196 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in IQVIA were worth $1,133,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Retirement Systems of Alabama increased its position in IQVIA by 2.8% during the 3rd quarter. Retirement Systems of Alabama now owns 36,264 shares of the medical research company’s stock valued at $6,888,000 after purchasing an additional 999 shares during the period. Sagespring Wealth Partners LLC grew its holdings in shares of IQVIA by 2.1% during the 3rd quarter. Sagespring Wealth Partners LLC now owns 6,205 shares of the medical research company’s stock worth $1,179,000 after acquiring an additional 130 shares during the period. GDS Wealth Management grew its position in shares of IQVIA by 4.2% in the 3rd quarter. GDS Wealth Management now owns 91,201 shares of the medical research company’s stock worth $17,323,000 after buying an additional 3,710 shares during the period. Modera Wealth Management LLC boosted its stake in IQVIA by 42.1% in the 3rd quarter. Modera Wealth Management LLC now owns 14,314 shares of the medical research company’s stock worth $2,719,000 after purchasing an additional 4,242 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its position in IQVIA by 17.4% during the 3rd quarter. UniSuper Management Pty Ltd now owns 21,159 shares of the medical research company’s stock valued at $4,019,000 after purchasing an additional 3,139 shares during the last quarter. Hedge funds and other institutional investors own 89.62% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Barclays set a $230.00 target price on shares of IQVIA in a research note on Monday, December 15th. BMO Capital Markets assumed coverage on IQVIA in a report on Thursday, November 13th. They issued an “outperform” rating and a $260.00 target price for the company. Citigroup upped their price target on IQVIA from $200.00 to $230.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Wall Street Zen upgraded IQVIA from a “hold” rating to a “buy” rating in a report on Sunday. Finally, JPMorgan Chase & Co. upped their price objective on IQVIA from $177.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, IQVIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.06.

Insiders Place Their Bets

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 transaction of $878,800.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.60% of the company’s stock.

IQVIA Trading Up 1.2%

NYSE:IQV opened at $238.15 on Tuesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $40.56 billion, a P/E ratio of 32.58, a P/E/G 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 firm has a 50-day simple moving average of $229.57 and a 200-day simple moving average of $206.73.

IQVIA (NYSE:IQV) last announced its quarterly earnings data on Tuesday, October 28th. The medical research company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.02. IQVIA had a net margin of 8.07% and a return on equity of 30.70%. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.07 billion. During the same period in the previous year, the company earned $2.84 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts anticipate that IQVIA Holdings Inc. will post 10.84 EPS for the current fiscal year.

About IQVIA

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.