Rafferty Asset Management LLC Acquires 358 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Rafferty Asset Management LLC increased its holdings in IQVIA Holdings Inc. (NYSE:IQV) by 9.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,967 shares of the medical research company’s stock after acquiring an additional 358 shares during the period. Rafferty Asset Management LLC’s holdings in IQVIA were worth $961,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in IQV. Commonwealth Equity Services LLC lifted its stake in IQVIA by 5.5% in the first quarter. Commonwealth Equity Services LLC now owns 13,520 shares of the medical research company’s stock valued at $2,611,000 after purchasing an additional 704 shares during the last quarter. Fifth Third Bancorp lifted its stake in IQVIA by 65.3% in the first quarter. Fifth Third Bancorp now owns 1,549 shares of the medical research company’s stock valued at $299,000 after purchasing an additional 612 shares during the last quarter. The PNC Financial Services Group Inc. lifted its stake in IQVIA by 0.4% in the first quarter. The PNC Financial Services Group Inc. now owns 44,460 shares of the medical research company’s stock valued at $8,587,000 after purchasing an additional 183 shares during the last quarter. IndexIQ Advisors LLC lifted its stake in IQVIA by 14.7% in the first quarter. IndexIQ Advisors LLC now owns 3,005 shares of the medical research company’s stock valued at $580,000 after purchasing an additional 385 shares during the last quarter. Finally, Swiss National Bank lifted its stake in IQVIA by 2.0% in the first quarter. Swiss National Bank now owns 737,175 shares of the medical research company’s stock valued at $142,378,000 after purchasing an additional 14,600 shares during the last quarter. 87.01% of the stock is owned by institutional investors.

Several research firms recently commented on IQV. Deutsche Bank Aktiengesellschaft upped their price objective on IQVIA from $244.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Barclays increased their target price on IQVIA from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 13th. Argus increased their target price on IQVIA from $260.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, September 10th. Morgan Stanley increased their target price on IQVIA from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. Finally, Piper Sandler increased their target price on IQVIA from $204.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 28th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $257.11.

IQV opened at $256.26 on Wednesday. The stock has a market cap of $49.10 billion, a PE ratio of 82.13, a P/E/G ratio of 2.43 and a beta of 1.42. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.11. IQVIA Holdings Inc. has a 52 week low of $146.00 and a 52 week high of $265.34. The business’s fifty day simple moving average is $253.24 and its 200 day simple moving average is $234.53.

IQVIA (NYSE:IQV) last released its earnings results on Tuesday, July 27th. The medical research company reported $2.13 EPS for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.06. The business had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.27 billion. IQVIA had a return on equity of 23.95% and a net margin of 4.69%. The firm’s revenue was up 36.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.18 earnings per share. As a group, equities analysts anticipate that IQVIA Holdings Inc. will post 8.25 earnings per share for the current year.

IQVIA Profile

IQVIA Holdings, Inc engages in the provision of analytics, technology solutions, and clinical research services to the life sciences industry. It operates through the following segments: Technology & Analytics Solutions, Research & Development Solutions and Contract Sales & Medical Solutions. Technology & Analytics Solutions segment provides mission critical information, technology solutions and real world solutions and services to the firm’s life science clients.

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Institutional Ownership by Quarter for IQVIA (NYSE:IQV)

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