Seven Eight Capital LP Makes New $3.38 Million Investment in IQVIA Holdings Inc. (NYSE:IQV)

Seven Eight Capital LP bought a new stake in IQVIA Holdings Inc. (NYSE:IQV) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 15,994 shares of the medical research company’s stock, valued at approximately $3,382,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its stake in IQVIA by 18.7% in the second quarter. Hsbc Holdings PLC now owns 469,752 shares of the medical research company’s stock valued at $99,504,000 after purchasing an additional 73,877 shares during the period. Blair William & Co. IL lifted its stake in shares of IQVIA by 8.8% in the 2nd quarter. Blair William & Co. IL now owns 4,072 shares of the medical research company’s stock worth $861,000 after acquiring an additional 328 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of IQVIA by 10.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,847 shares of the medical research company’s stock valued at $3,347,000 after acquiring an additional 1,552 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in IQVIA by 3.0% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 9,112 shares of the medical research company’s stock worth $1,927,000 after purchasing an additional 264 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in IQVIA by 21.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 13,043 shares of the medical research company’s stock valued at $2,746,000 after purchasing an additional 2,277 shares in the last quarter. Hedge funds and other institutional investors own 89.62% of the company’s stock.

Insider Buying and Selling at IQVIA

In related news, insider Eric Sherbet sold 1,300 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were 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 of the company’s stock, valued at approximately $4,812,302.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is owned by insiders.

IQVIA Price Performance

IQV opened at $239.98 on Wednesday. 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 1-year low of $167.42 and a 1-year high of $261.73. The company has a 50-day moving average of $239.12 and a 200-day moving average of $234.12. The company has a market capitalization of $43.75 billion, a P/E ratio of 32.78, a PEG ratio of 2.24 and a beta of 1.49.

IQVIA (NYSE:IQV) last announced its quarterly earnings data on Monday, July 22nd. The medical research company reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.07. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.79 billion. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. IQVIA’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.22 earnings per share. Equities analysts expect that IQVIA Holdings Inc. will post 10.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IQV has been the subject of a number of analyst reports. Morgan Stanley increased their target price on IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. StockNews.com raised IQVIA from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Jefferies Financial Group lowered IQVIA from a “buy” rating to a “hold” rating and reduced their target price for the company from $266.00 to $242.00 in a research note on Wednesday, July 24th. UBS Group boosted their target price on shares of IQVIA from $295.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Argus raised shares of IQVIA to a “strong-buy” rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.67.

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.