Kornitzer Capital Management Inc. KS Sells 29,966 Shares of IQVIA Holdings Inc. $IQV

Kornitzer Capital Management Inc. KS trimmed its stake in IQVIA Holdings Inc. (NYSE:IQV) by 53.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,296 shares of the medical research company’s stock after selling 29,966 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in IQVIA were worth $4,995,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Asset Dedication LLC lifted its position in IQVIA by 224.0% in the 2nd quarter. Asset Dedication LLC now owns 243 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 168 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new stake in shares of IQVIA during the 2nd quarter valued at about $39,000. J.Safra Asset Management Corp lifted its stake in shares of IQVIA by 208.6% in the 2nd quarter. J.Safra Asset Management Corp now owns 250 shares of the medical research company’s stock worth $39,000 after purchasing an additional 169 shares during the period. Rothschild Investment LLC boosted its holdings in shares of IQVIA by 85.5% in the second quarter. Rothschild Investment LLC now owns 269 shares of the medical research company’s stock worth $42,000 after buying an additional 124 shares during the last quarter. Finally, Root Financial Partners LLC bought a new stake in IQVIA during the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.

IQVIA Trading Up 0.7%

Shares of IQV stock opened at $241.03 on Wednesday. The stock has a market capitalization of $41.05 billion, a price-to-earnings ratio of 33.06, a price-to-earnings-growth ratio of 2.44 and a beta of 1.36. The stock’s 50-day moving average price is $230.03 and its 200-day moving average price is $207.28. IQVIA Holdings Inc. has a 12-month low of $134.65 and a 12-month high of $247.04. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 2.03.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of IQVIA in a research note on Thursday, January 22nd. Stifel Nicolaus raised their target price on IQVIA from $234.00 to $254.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Robert W. Baird set a $258.00 price target on IQVIA and gave the company an “outperform” rating in a report on Wednesday, October 29th. UBS Group lifted their price objective on IQVIA from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Finally, Citigroup raised their target price on shares of IQVIA from $200.00 to $230.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $251.06.

IQVIA 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.