Fairbanks Capital Management Inc. Boosts Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Fairbanks Capital Management Inc. raised its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 2.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,446 shares of the medical research company’s stock after acquiring an additional 127 shares during the quarter. Fairbanks Capital Management Inc.’s holdings in IQVIA were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of IQVIA during the fourth quarter worth about $383,705,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of IQVIA by 339.6% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,067,195 shares of the medical research company’s stock worth $478,308,000 after buying an additional 1,597,003 shares in the last quarter. Morningstar Investment Services LLC grew its holdings in shares of IQVIA by 96.9% during the fourth quarter. Morningstar Investment Services LLC now owns 1,231,916 shares of the medical research company’s stock worth $286,704,000 after buying an additional 606,333 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of IQVIA by 42.2% during the fourth quarter. Capital Research Global Investors now owns 1,995,269 shares of the medical research company’s stock worth $461,675,000 after buying an additional 592,372 shares in the last quarter. Finally, Cadian Capital Management LP purchased a new stake in shares of IQVIA during the fourth quarter worth about $70,108,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total value of $320,229.00. Following the completion of the sale, the insider now directly owns 19,536 shares of the company’s stock, valued at approximately $4,812,302.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

IQVIA Stock Performance

Shares of IQV opened at $243.07 on Monday. IQVIA Holdings Inc. has a 1 year low of $167.42 and a 1 year high of $261.73. The company has a market cap of $44.31 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 2.29 and a beta of 1.49. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a fifty day moving average of $234.92 and a 200-day moving average of $234.62.

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IQV shares. JPMorgan Chase & Co. lifted their price target on shares of IQVIA from $260.00 to $288.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Argus raised shares of IQVIA to a “strong-buy” rating in a research report on Wednesday, July 31st. Truist Financial raised their target price on shares of IQVIA from $292.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Barclays lifted their price target on shares of IQVIA from $255.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Finally, UBS Group lifted their price target on shares of IQVIA from $295.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, thirteen have assigned 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 a consensus target price of $266.67.

About IQVIA

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.