Kentucky Retirement Systems Insurance Trust Fund Decreases Position in IQVIA Holdings Inc. (NYSE:IQV)

Kentucky Retirement Systems Insurance Trust Fund cut its position in IQVIA Holdings Inc. (NYSE:IQV) by 7.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,023 shares of the medical research company’s stock after selling 501 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in IQVIA were worth $1,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc grew its stake in IQVIA by 327.6% during the 4th quarter. AdvisorNet Financial Inc now owns 124 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 95 shares in the last quarter. Rise Advisors LLC purchased a new stake in IQVIA in the 1st quarter valued at $31,000. Riverview Trust Co purchased a new position in shares of IQVIA during the 1st quarter worth $32,000. Activest Wealth Management acquired a new position in shares of IQVIA during the 4th quarter valued at about $35,000. Finally, Covestor Ltd grew its holdings in shares of IQVIA by 45.3% in the first quarter. Covestor Ltd now owns 154 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 89.62% of the company’s stock.

IQVIA Stock Up 3.2 %

IQV stock traded up $7.38 during midday trading on Friday, hitting $239.67. The company’s stock had a trading volume of 1,195,238 shares, compared to its average volume of 1,420,984. The firm has a 50-day simple moving average of $220.23 and a 200-day simple moving average of $229.46. The firm has a market capitalization of $43.69 billion, a P/E ratio of 32.74, a PEG ratio of 2.26 and a beta of 1.49. The company has a quick ratio of 0.88, a current ratio of 0.85 and a debt-to-equity ratio of 1.80. IQVIA Holdings Inc. has a 52-week low of $167.42 and a 52-week high of $261.73.

IQVIA (NYSE:IQV) last released its earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.07. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the business posted $2.22 earnings per share. IQVIA’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts forecast that IQVIA Holdings Inc. will post 10.21 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IQV. Barclays increased their price target on shares of IQVIA from $255.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group lowered IQVIA from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $266.00 to $242.00 in a research report on Wednesday. Robert W. Baird lifted their target price on IQVIA from $235.00 to $251.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Evercore ISI increased their price target on IQVIA from $230.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group assumed coverage on shares of IQVIA in a report on Thursday, June 6th. They issued a “buy” rating and a $270.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, IQVIA currently has a consensus rating of “Moderate Buy” and an average price target of $263.56.

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.