Public Employees Retirement Association of Colorado increased its stake in IQVIA Holdings Inc. (NYSE:IQV) by 651.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 257,885 shares of the medical research company’s stock after purchasing an additional 223,559 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in IQVIA were worth $62,491,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Perennial Advisors LLC acquired a new stake in shares of IQVIA in the 2nd quarter worth approximately $27,000. Eagle Bay Advisors LLC acquired a new stake in IQVIA in the second quarter worth approximately $29,000. Red Door Wealth Management LLC bought a new position in IQVIA during the 2nd quarter valued at $48,000. Trustcore Financial Services LLC increased its position in shares of IQVIA by 90.4% during the 2nd quarter. Trustcore Financial Services LLC now owns 219 shares of the medical research company’s stock valued at $53,000 after purchasing an additional 104 shares during the period. Finally, Pinz Capital Management LP bought a new stake in shares of IQVIA in the 1st quarter worth $48,000. 87.01% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the stock. Piper Sandler raised their price objective on shares of IQVIA from $204.00 to $235.00 and gave the company a “neutral” rating in a research report on Wednesday, July 28th. Credit Suisse Group boosted their target price on IQVIA from $242.00 to $265.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 20th. Mizuho increased their price target on IQVIA from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of IQVIA from $244.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Finally, Morgan Stanley upped their price target on shares of IQVIA from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday, July 28th. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $262.33.
IQVIA (NYSE:IQV) last posted its earnings results on Tuesday, July 27th. The medical research company reported $2.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.07 by $0.06. IQVIA had a net margin of 4.69% and a return on equity of 23.95%. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the previous year, the firm posted $1.18 earnings per share. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, analysts expect that IQVIA Holdings Inc. will post 8.26 EPS for the current fiscal year.
IQVIA Company Profile
IQVIA Holdings, Inc engages in the provision of analytics, technology solutions, and clinical research services to the life sciences industry. It operates through the following segments: Technology & Analytics Solutions, Research & Development Solutions and Contract Sales & Medical Solutions. Technology & Analytics Solutions segment provides mission critical information, technology solutions and real world solutions and services to the firm’s life science clients.
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