IQVIA Holdings Inc. (NYSE:IQV) Stock Position Decreased by Otter Creek Advisors LLC

Otter Creek Advisors LLC cut its position in shares of IQVIA Holdings Inc. (NYSE:IQV) by 54.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,080 shares of the medical research company’s stock after selling 9,605 shares during the period. Otter Creek Advisors LLC’s holdings in IQVIA were worth $1,708,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Team Hewins LLC raised its stake in shares of IQVIA by 5.0% during the 1st quarter. Team Hewins LLC now owns 973 shares of the medical research company’s stock worth $246,000 after purchasing an additional 46 shares in the last quarter. Covestor Ltd raised its stake in shares of IQVIA by 45.3% during the 1st quarter. Covestor Ltd now owns 154 shares of the medical research company’s stock worth $39,000 after purchasing an additional 48 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of IQVIA by 0.3% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 15,668 shares of the medical research company’s stock valued at $3,313,000 after acquiring an additional 48 shares in the last quarter. Jag Capital Management LLC raised its stake in shares of IQVIA by 0.4% in the 4th quarter. Jag Capital Management LLC now owns 11,401 shares of the medical research company’s stock valued at $2,638,000 after acquiring an additional 49 shares in the last quarter. Finally, Continuum Advisory LLC raised its stake in shares of IQVIA by 3.3% in the 2nd quarter. Continuum Advisory LLC now owns 1,538 shares of the medical research company’s stock valued at $325,000 after acquiring an additional 49 shares in the last quarter. 89.62% of the stock is owned by hedge funds and other institutional investors.

IQVIA Trading Down 2.0 %

Shares of IQV opened at $243.07 on Friday. The stock has a fifty day moving average price of $234.92 and a two-hundred day moving average price of $234.63. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.85 and a current ratio of 0.85. IQVIA Holdings Inc. has a 52-week low of $167.42 and a 52-week high of $261.73. The company has a market cap of $44.29 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 2.37 and a beta of 1.49.

IQVIA (NYSE:IQV) last released its earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.07. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.79 billion. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.22 earnings per share. Analysts predict that IQVIA Holdings Inc. will post 10.24 EPS for the current fiscal year.

Insider Transactions at IQVIA

In other news, insider Eric Sherbet sold 1,300 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total transaction of $320,229.00. Following the completion of the sale, the insider now owns 19,536 shares in the company, valued at $4,812,302.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Barclays raised their price objective on IQVIA from $255.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Robert W. Baird raised their price objective on IQVIA from $235.00 to $251.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Argus raised IQVIA to a “strong-buy” rating in a research note on Wednesday, July 31st. StockNews.com raised IQVIA from a “hold” rating to a “buy” rating in a report on Thursday. Finally, The Goldman Sachs Group started coverage on IQVIA in a report on Thursday, June 6th. They issued a “buy” rating and a $270.00 target price on the stock. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $266.67.

IQVIA Company 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.