Van ECK Associates Corp Has $27.17 Million Position in IQVIA Holdings Inc. (NYSE:IQV)

Van ECK Associates Corp reduced its holdings in IQVIA Holdings Inc. (NYSE:IQV) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 117,423 shares of the medical research company’s stock after selling 690 shares during the quarter. Van ECK Associates Corp owned about 0.06% of IQVIA worth $27,169,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in IQV. AdvisorNet Financial Inc grew its position in shares of IQVIA by 327.6% in the fourth quarter. AdvisorNet Financial Inc now owns 124 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 95 shares during the last quarter. BKM Wealth Management LLC bought a new stake in shares of IQVIA in the fourth quarter valued at about $32,000. Activest Wealth Management bought a new stake in shares of IQVIA in the fourth quarter valued at about $35,000. CVA Family Office LLC bought a new stake in shares of IQVIA in the fourth quarter valued at about $43,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of IQVIA in the third quarter valued at about $44,000. 89.62% of the stock is owned by institutional investors and hedge funds.

IQVIA Stock Performance

NYSE:IQV opened at $231.80 on Wednesday. IQVIA Holdings Inc. has a 1 year low of $167.42 and a 1 year high of $261.73. The firm has a 50 day moving average of $245.15 and a 200-day moving average of $223.79. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 2.12. The stock has a market capitalization of $42.07 billion, a P/E ratio of 31.80, a price-to-earnings-growth ratio of 2.28 and a beta of 1.50.

IQVIA (NYSE:IQV) last posted its earnings results on Wednesday, February 14th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.02. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.80 billion. IQVIA had a net margin of 9.06% and a return on equity of 29.32%. IQVIA’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.54 earnings per share. As a group, sell-side analysts anticipate that IQVIA Holdings Inc. will post 10.12 EPS for the current fiscal year.

Insider Activity at IQVIA

In related news, insider Ari Bousbib sold 31,678 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $250.53, for a total value of $7,936,289.34. Following the completion of the sale, the insider now owns 796,752 shares of the company’s stock, valued at $199,610,278.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other IQVIA news, insider Kevin C. Knightly sold 8,607 shares of IQVIA stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total transaction of $2,153,213.19. Following the completion of the sale, the insider now owns 5,251 shares of the company’s stock, valued at approximately $1,313,642.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ari Bousbib sold 31,678 shares of IQVIA stock in a transaction on Friday, March 1st. The stock was sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the sale, the insider now directly owns 796,752 shares of the company’s stock, valued at approximately $199,610,278.56. The disclosure for this sale can be found here. Insiders sold a total of 41,285 shares of company stock valued at $10,331,003 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. BTIG Research assumed coverage on shares of IQVIA in a research note on Tuesday, February 13th. They issued a “buy” rating and a $285.00 target price for the company. Leerink Partnrs reiterated an “outperform” rating on shares of IQVIA in a research note on Monday, February 26th. Barclays increased their target price on shares of IQVIA from $260.00 to $265.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Truist Financial increased their target price on shares of IQVIA from $286.00 to $297.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, UBS Group raised their price target on shares of IQVIA from $240.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $256.80.

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.