Parsons Capital Management Inc. RI Lowers Stake in IQVIA Holdings Inc. (NYSE:IQV)

Parsons Capital Management Inc. RI lessened its holdings in IQVIA Holdings Inc. (NYSE:IQV) by 11.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,921 shares of the medical research company’s stock after selling 1,292 shares during the period. Parsons Capital Management Inc. RI’s holdings in IQVIA were worth $2,098,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Rise Advisors LLC acquired a new position in shares of IQVIA during the 1st quarter worth approximately $31,000. Versant Capital Management Inc grew its position 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 period. Riverview Trust Co acquired a new position in shares of IQVIA during the 1st quarter worth about $32,000. Opal Wealth Advisors LLC purchased a new position in IQVIA in the 2nd quarter valued at about $27,000. Finally, Covestor Ltd raised its holdings in shares of IQVIA by 45.3% during the first quarter. Covestor Ltd now owns 154 shares of the medical research company’s stock valued at $39,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 89.62% of the company’s stock.

IQVIA Trading Down 0.1 %

Shares of IQVIA stock opened at $242.91 on Tuesday. The company’s fifty day moving average is $225.23 and its two-hundred day moving average is $232.36. IQVIA Holdings Inc. has a 1 year low of $167.42 and a 1 year high of $261.73. 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 $44.28 billion, a P/E ratio of 33.21, a PEG ratio of 2.22 and a beta of 1.49.

IQVIA (NYSE:IQV) last posted its quarterly earnings data on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.07. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.79 billion. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $2.22 EPS. Analysts forecast that IQVIA Holdings Inc. will post 10.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Argus raised shares of IQVIA to a “strong-buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group started coverage on shares of IQVIA in a research note on Thursday, June 6th. They issued a “buy” rating and a $270.00 target price on the stock. Barclays lifted their price target on IQVIA from $255.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Truist Financial upped their price objective on shares of IQVIA from $292.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Robert W. Baird increased their price target on shares of IQVIA from $235.00 to $251.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $265.67.

IQVIA Company 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.