Allianz Asset Management GmbH Sells 88,836 Shares of Iqvia Holdings Inc (IQV)
Allianz Asset Management GmbH cut its position in shares of Iqvia Holdings Inc (NYSE:IQV) by 38.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,126 shares of the medical research company’s stock after selling 88,836 shares during the quarter. Allianz Asset Management GmbH’s holdings in Iqvia were worth $18,699,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Cutler Group LP increased its position in shares of Iqvia by 173.3% during the 2nd quarter. Cutler Group LP now owns 1,100 shares of the medical research company’s stock valued at $109,000 after purchasing an additional 2,600 shares during the last quarter. Fort L.P. bought a new position in shares of Iqvia during the 2nd quarter valued at about $118,000. Hamilton Lane Advisors LLC bought a new position in shares of Iqvia during the 3rd quarter valued at about $121,000. Quad Cities Investment Group LLC purchased a new stake in Iqvia during the 2nd quarter valued at about $140,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Iqvia by 177.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,156 shares of the medical research company’s stock valued at $150,000 after acquiring an additional 739 shares during the period. Hedge funds and other institutional investors own 89.33% of the company’s stock.
In other Iqvia news, CFO Michael R. Mcdonnell sold 9,500 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $128.35, for a total value of $1,219,325.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Group Holdings (Sbs) Advis Tpg sold 3,573,545 shares of the stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $123.72, for a total value of $442,118,987.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,117,903 shares of company stock valued at $881,082,166. Company insiders own 6.00% of the company’s stock.
Iqvia (NYSE:IQV) last released its quarterly earnings data on Monday, October 22nd. The medical research company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. Iqvia had a return on equity of 13.69% and a net margin of 12.29%. The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.58 billion. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts expect that Iqvia Holdings Inc will post 5.13 earnings per share for the current year.
Several equities research analysts recently weighed in on IQV shares. Zacks Investment Research upgraded Iqvia from a “hold” rating to a “buy” rating and set a $142.00 target price for the company in a report on Tuesday, October 23rd. UBS Group started coverage on Iqvia in a report on Tuesday, October 9th. They set a “buy” rating for the company. Argus set a $136.00 target price on Iqvia and gave the company a “buy” rating in a report on Thursday, August 23rd. Piper Jaffray Companies increased their target price on Iqvia to $131.00 and gave the company a “neutral” rating in a report on Tuesday, October 23rd. Finally, Royal Bank of Canada increased their target price on Iqvia to $137.00 and gave the company an “outperform” rating in a report on Tuesday, October 23rd. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Iqvia has a consensus rating of “Buy” and a consensus price target of $134.41.
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Iqvia Company Profile
IQVIA Holdings Inc provides integrated information and technology-enabled healthcare services in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Commercial Solutions, Research & Development Solutions, and Integrated Engagement Services. The Commercial Solutions segment offers a range of cloud-based applications and related implementation, real-world insights, and reference information services; and strategic and implementation consulting services, such as advanced analytics and commercial processes outsourcing services.
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