IQVIA Holdings Inc. $IQV Stock Sold by Steinberg Asset Management LLC

Steinberg Asset Management LLC lowered its position in IQVIA Holdings Inc. (NYSE:IQV) by 31.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,198 shares of the medical research company’s stock after selling 8,047 shares during the quarter. IQVIA makes up about 3.0% of Steinberg Asset Management LLC’s holdings, making the stock its 5th biggest holding. Steinberg Asset Management LLC’s holdings in IQVIA were worth $4,624,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pension & Wealth Management Advisors Inc. acquired a new stake in shares of IQVIA in the 3rd quarter valued at $30,000. Compass Financial Management LLC acquired a new position in shares of IQVIA during the second quarter worth $27,000. Financial Freedom LLC acquired a new position in shares of IQVIA during the first quarter worth $25,000. Ascentis Independent Advisors purchased a new position in IQVIA in the first quarter valued at $25,000. Finally, Elevation Wealth Partners LLC increased its holdings in IQVIA by 218.8% in the second quarter. Elevation Wealth Partners LLC now owns 153 shares of the medical research company’s stock valued at $30,000 after buying an additional 105 shares during the last quarter. Institutional investors and hedge funds own 89.62% of the company’s stock.

IQVIA Price Performance

Shares of IQV opened at $266.93 on Monday. IQVIA Holdings Inc. has a 1-year low of $154.50 and a 1-year high of $284.50. The stock has a market cap of $43.99 billion, a PE ratio of 32.43, a price-to-earnings-growth ratio of 2.38 and a beta of 1.16. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a fifty day moving average price of $266.22 and a 200 day moving average price of $210.41.

IQVIA (NYSE:IQV) last issued its quarterly earnings data on Tuesday, October 27th. The medical research company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.08. IQVIA had a return on equity of 30.02% and a net margin of 8.05%. The company had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same quarter last year, the company posted $3.00 earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that IQVIA Holdings Inc. will post 11.53 EPS for the current year.

Insider Activity

In related news, insider James G. Berkshire sold 2,668 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $261.33, for a total transaction of $697,228.44. Following the transaction, the insider owned 10,890 shares in the company, valued at $2,845,883.70. This trade represents a 19.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

IQV has been the topic of a number of analyst reports. HSBC raised their price target on IQVIA from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, September 1st. Robert W. Baird increased their price objective on IQVIA from $324.00 to $328.00 and gave the company an “outperform” rating in a report on Tuesday, October 27th. Morgan Stanley raised their target price on IQVIA from $240.00 to $270.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 17th. Evercore boosted their target price on IQVIA from $275.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 6th. Finally, Weiss Ratings downgraded IQVIA from a “hold (c+)” rating to a “sell (d+)” rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $294.21.

About IQVIA

IQVIA Holdings Inc is a global provider of technology, analytics and contract research services for the life sciences industry. The company helps pharmaceutical, biotechnology and medical device organizations develop, commercialize and improve products by combining healthcare data with advanced analytics, consulting and technology-enabled services.

Its offerings include clinical research and trial management, real-world evidence, healthcare data and analytics, regulatory and safety services, technology platforms, and commercial solutions.