Jennison Associates LLC Has $132.25 Million Position in Iqvia Holdings Inc (NYSE:IQV)

Jennison Associates LLC increased its position in Iqvia Holdings Inc (NYSE:IQV) by 74.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 821,936 shares of the medical research company’s stock after acquiring an additional 351,318 shares during the quarter. Jennison Associates LLC’s holdings in Iqvia were worth $132,250,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Tower Bridge Advisors increased its position in Iqvia by 1.1% during the 2nd quarter. Tower Bridge Advisors now owns 108,262 shares of the medical research company’s stock valued at $17,419,000 after purchasing an additional 1,157 shares during the period. Cedar Brook Financial Partners LLC acquired a new stake in Iqvia during the 2nd quarter valued at approximately $253,000. Enlightenment Research LLC acquired a new stake in Iqvia during the 2nd quarter valued at approximately $820,000. Bbva USA Bancshares Inc. increased its position in Iqvia by 1.6% during the 2nd quarter. Bbva USA Bancshares Inc. now owns 6,078 shares of the medical research company’s stock valued at $978,000 after purchasing an additional 95 shares during the period. Finally, Manchester Capital Management LLC increased its position in Iqvia by 1,200.0% during the 2nd quarter. Manchester Capital Management LLC now owns 416 shares of the medical research company’s stock valued at $67,000 after purchasing an additional 384 shares during the period. 90.86% of the stock is owned by institutional investors.

In related news, insider Kevin C. Knightly sold 6,945 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $158.53, for a total value of $1,100,990.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ari Bousbib sold 96,000 shares of the stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $150.00, for a total value of $14,400,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 198,945 shares of company stock worth $30,860,991. 6.00% of the stock is owned by company insiders.

Shares of IQV stock traded down $3.40 during trading hours on Friday, hitting $153.15. 773,266 shares of the company were exchanged, compared to its average volume of 1,002,461. Iqvia Holdings Inc has a fifty-two week low of $104.90 and a fifty-two week high of $164.13. The company has a 50 day simple moving average of $157.12 and a two-hundred day simple moving average of $144.78. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $30.67 billion, a P/E ratio of 29.91, a P/E/G ratio of 1.90 and a beta of 0.88.

Iqvia (NYSE:IQV) last issued its earnings results on Wednesday, July 24th. The medical research company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Iqvia had a return on equity of 15.95% and a net margin of 2.31%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period last year, the business earned $1.29 EPS. Iqvia’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, sell-side analysts expect that Iqvia Holdings Inc will post 5.87 EPS for the current fiscal year.

Several analysts have recently commented on IQV shares. TheStreet downgraded shares of Iqvia from a “b” rating to a “c+” rating in a research report on Wednesday, May 1st. Credit Suisse Group raised their price objective on shares of Iqvia from $165.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Co raised their price objective on shares of Iqvia from $170.00 to $178.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Leerink Swann started coverage on shares of Iqvia in a research report on Tuesday, May 28th. They set an “outperform” rating and a $136.38 price objective for the company. Finally, Morgan Stanley raised their price objective on shares of Iqvia from $156.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 19th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $161.13.

Iqvia Profile

IQVIA Holdings Inc provides advanced analytics, technology solutions, and contract 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.

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Institutional Ownership by Quarter for Iqvia (NYSE:IQV)

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