Primecap Management Co. CA Acquires 1,220 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Primecap Management Co. CA grew its holdings in IQVIA Holdings Inc. (NYSE:IQV) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 325,176 shares of the medical research company’s stock after purchasing an additional 1,220 shares during the quarter. Primecap Management Co. CA’s holdings in IQVIA were worth $68,755,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Versant Capital Management Inc grew its stake in IQVIA by 733.3% in the second quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 110 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of IQVIA in the 2nd quarter valued at about $27,000. Rise Advisors LLC purchased a new position in shares of IQVIA in the 1st quarter worth approximately $31,000. Riverview Trust Co bought a new position in shares of IQVIA during the 1st quarter worth approximately $32,000. Finally, International Assets Investment Management LLC purchased a new stake in IQVIA during the second quarter valued at approximately $32,000. 89.62% of the stock is currently owned by institutional investors.

IQVIA Trading Up 0.3 %

Shares of NYSE:IQV opened at $239.98 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.80. IQVIA Holdings Inc. has a 12-month low of $167.42 and a 12-month high of $261.73. The business has a 50 day moving average of $239.12 and a two-hundred day moving average of $234.12. The company has a market capitalization of $43.75 billion, a PE ratio of 32.78, a PEG ratio of 2.24 and a beta of 1.49.

IQVIA (NYSE:IQV) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $3.79 billion. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.22 EPS. As a group, analysts forecast that IQVIA Holdings Inc. will post 10.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Jefferies Financial Group lowered IQVIA from a “buy” rating to a “hold” rating and decreased their price objective for the company from $266.00 to $242.00 in a report on Wednesday, July 24th. The Goldman Sachs Group initiated coverage on IQVIA in a report on Thursday, June 6th. They issued a “buy” rating and a $270.00 price target for the company. Robert W. Baird upped their price objective on shares of IQVIA from $235.00 to $251.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Evercore ISI boosted their target price on shares of IQVIA from $230.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Truist Financial raised their price target on shares of IQVIA from $292.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $266.67.

Insider Activity

In related news, insider Eric Sherbet sold 1,300 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total value of $320,229.00. Following the completion of the transaction, the insider now owns 19,536 shares of the company’s stock, valued at approximately $4,812,302.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

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.