Seven Eight Capital LP Invests $3.38 Million in IQVIA Holdings Inc. (NYSE:IQV)

Seven Eight Capital LP acquired a new stake in shares of IQVIA Holdings Inc. (NYSE:IQV) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,994 shares of the medical research company’s stock, valued at approximately $3,382,000.

A number of other hedge funds have also modified their holdings of the stock. 9258 Wealth Management LLC grew its holdings in shares of IQVIA by 35.9% during the fourth quarter. 9258 Wealth Management LLC now owns 2,915 shares of the medical research company’s stock valued at $674,000 after buying an additional 770 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in IQVIA by 39.6% during the fourth quarter. Avantax Advisory Services Inc. now owns 2,702 shares of the medical research company’s stock valued at $625,000 after buying an additional 766 shares in the last quarter. Norges Bank acquired a new position in shares of IQVIA during the 4th quarter valued at about $383,705,000. PNC Financial Services Group Inc. raised its position in shares of IQVIA by 4.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 43,380 shares of the medical research company’s stock valued at $10,037,000 after purchasing an additional 1,943 shares during the period. Finally, Gladstone Institutional Advisory LLC lifted its stake in shares of IQVIA by 5.7% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 1,667 shares of the medical research company’s stock worth $386,000 after buying an additional 90 shares during the last quarter. 89.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IQV. JPMorgan Chase & Co. upped their price target on shares of IQVIA from $260.00 to $288.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Robert W. Baird boosted their price objective on shares of IQVIA from $235.00 to $251.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. StockNews.com raised shares of IQVIA from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Jefferies Financial Group lowered shares of IQVIA from a “buy” rating to a “hold” rating and reduced their price target for the company from $266.00 to $242.00 in a research report on Wednesday, July 24th. Finally, Evercore ISI raised their price objective on shares of IQVIA from $230.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $266.67.

Insider Buying and Selling at IQVIA

In other news, insider Eric Sherbet sold 1,300 shares of the company’s stock in a transaction that occurred on 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 $4,812,302.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

IQVIA Stock Up 0.3 %

IQV opened at $239.98 on Wednesday. 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 company has a market capitalization of $43.75 billion, a P/E ratio of 32.78, a P/E/G ratio of 2.24 and a beta of 1.49. IQVIA Holdings Inc. has a fifty-two week low of $167.42 and a fifty-two week high of $261.73. The stock has a fifty day moving average of $239.12 and a 200-day moving average of $234.12.

IQVIA (NYSE:IQV) last posted its quarterly earnings results on Monday, July 22nd. The medical research company reported $2.64 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 28.59% and a net margin of 9.39%. IQVIA’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.22 earnings per share. On average, equities analysts expect that IQVIA Holdings Inc. will post 10.25 EPS for the current year.

IQVIA 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.