Kentucky Retirement Systems Reduces Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Kentucky Retirement Systems lessened its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 12.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,065 shares of the medical research company’s stock after selling 1,665 shares during the quarter. Kentucky Retirement Systems’ holdings in IQVIA were worth $2,859,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Capital Performance Advisors LLP purchased a new stake in IQVIA during the 3rd quarter valued at about $27,000. Park Place Capital Corp purchased a new stake in shares of IQVIA in the third quarter valued at approximately $28,000. Versant Capital Management Inc increased its holdings in shares of IQVIA by 733.3% in the second quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 110 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in IQVIA during the second quarter worth approximately $27,000. Finally, Itau Unibanco Holding S.A. acquired a new position in IQVIA during the second quarter worth $29,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.

IQVIA Price Performance

Shares of NYSE IQV opened at $192.68 on Monday. The stock’s 50-day simple moving average is $226.95 and its 200-day simple moving average is $228.24. The firm has a market capitalization of $34.97 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.98 and a beta of 1.51. IQVIA Holdings Inc. has a fifty-two week low of $189.63 and a fifty-two week high of $261.73. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.81 and a current ratio of 0.81.

Insiders Place Their Bets

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total transaction of $320,229.00. Following the transaction, the insider now owns 19,536 shares of the company’s stock, valued at approximately $4,812,302.88. This trade represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on IQV. Morgan Stanley reduced their price target on IQVIA from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. TD Cowen cut their target price on IQVIA from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Argus upgraded shares of IQVIA to a “strong-buy” rating in a report on Wednesday, July 31st. Evercore ISI lowered their price target on IQVIA from $270.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. decreased their target price on IQVIA from $279.00 to $240.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, IQVIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.13.

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.