Jennison Associates LLC Acquires 351,318 Shares of Iqvia Holdings Inc (NYSE:IQV)

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Jennison Associates LLC lifted its holdings in Iqvia Holdings Inc (NYSE:IQV) by 74.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 821,936 shares of the medical research company’s stock after purchasing an additional 351,318 shares during the quarter. Jennison Associates LLC owned 0.42% of Iqvia worth $132,250,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Iqvia by 7.0% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,251 shares of the medical research company’s stock worth $1,331,000 after buying an additional 608 shares during the last quarter. GYL Financial Synergies LLC acquired a new position in Iqvia during the first quarter worth $4,349,000. National Asset Management Inc. increased its holdings in Iqvia by 6.6% during the second quarter. National Asset Management Inc. now owns 3,787 shares of the medical research company’s stock worth $610,000 after buying an additional 234 shares during the last quarter. Globeflex Capital L P increased its holdings in Iqvia by 96.6% during the first quarter. Globeflex Capital L P now owns 10,784 shares of the medical research company’s stock worth $1,551,000 after buying an additional 5,299 shares during the last quarter. Finally, Meridian Wealth Advisors LLC increased its holdings in Iqvia by 13.0% during the first quarter. Meridian Wealth Advisors LLC now owns 4,197 shares of the medical research company’s stock worth $604,000 after buying an additional 482 shares during the last quarter. 90.86% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on the stock. TheStreet downgraded shares of Iqvia from a “b” rating to a “c+” rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded shares of Iqvia from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. SunTrust Banks boosted their target price on shares of Iqvia from $155.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Stifel Nicolaus boosted their target price on shares of Iqvia from $167.00 to $178.00 and gave the stock a “buy” rating in a report on Wednesday, June 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Iqvia from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $161.13.

In other news, insider Kevin C. Knightly sold 6,945 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $158.53, for a total value of $1,100,990.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ari Bousbib sold 96,000 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $160.00, for a total transaction of $15,360,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 198,945 shares of company stock worth $30,860,991. Corporate insiders own 6.00% of the company’s stock.

Shares of NYSE:IQV traded down $3.40 on Friday, hitting $153.15. The company had a trading volume of 773,266 shares, compared to its average volume of 1,002,461. Iqvia Holdings Inc has a 1-year low of $104.90 and a 1-year high of $164.13. The stock has a market cap of $30.67 billion, a price-to-earnings ratio of 29.91, a P/E/G ratio of 1.90 and a beta of 0.88. The stock has a 50 day moving average price of $157.12 and a 200 day moving average price of $144.78. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.72.

Iqvia (NYSE:IQV) last released its quarterly earnings data on Wednesday, July 24th. The medical research company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.01. Iqvia had a net margin of 2.31% and a return on equity of 15.95%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the company earned $1.29 earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis. Sell-side analysts anticipate that Iqvia Holdings Inc will post 5.87 earnings per share for the current fiscal year.

Iqvia Profile

IQVIA Holdings Inc provides advanced analytics, technology solutions, and contract 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.

Further Reading: CD Ladder

Institutional Ownership by Quarter for Iqvia (NYSE:IQV)

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