Tower Bridge Advisors Cuts Position in IQVIA Holdings Inc. (NYSE:IQV)

Tower Bridge Advisors reduced its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,509 shares of the medical research company’s stock after selling 1,190 shares during the quarter. IQVIA comprises approximately 1.9% of Tower Bridge Advisors’ holdings, making the stock its 10th largest position. Tower Bridge Advisors’ holdings in IQVIA were worth $17,893,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IQV. Versant Capital Management Inc boosted its position in shares of IQVIA by 733.3% during the second quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock worth $26,000 after buying an additional 110 shares during the period. Opal Wealth Advisors LLC acquired a new position in IQVIA during the 2nd quarter worth $27,000. Capital Performance Advisors LLP bought a new position in shares of IQVIA in the third quarter worth $27,000. Park Place Capital Corp acquired a new position in shares of IQVIA during the third quarter valued at $28,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of IQVIA during the second quarter valued at about $29,000. 89.62% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of IQVIA 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 $4,812,302.88. The trade was a 6.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

IQV has been the topic of several research analyst reports. Redburn Atlantic started coverage on shares of IQVIA in a research note on Monday, October 14th. They set a “buy” rating and a $276.00 target price on the stock. Barclays cut their target price on IQVIA from $260.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. JPMorgan Chase & Co. dropped their price objective on IQVIA from $279.00 to $240.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Jefferies Financial Group lowered IQVIA from a “buy” rating to a “hold” rating and cut their price objective for the company from $266.00 to $242.00 in a report on Wednesday, July 24th. Finally, Robert W. Baird dropped their price target on shares of IQVIA from $256.00 to $223.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $259.13.

IQVIA Price Performance

IQV opened at $192.68 on Friday. The firm has a market capitalization of $34.97 billion, a P/E ratio of 25.29, a PEG ratio of 1.98 and a beta of 1.51. The stock has a fifty day moving average of $226.95 and a 200-day moving average of $228.27. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.76. IQVIA Holdings Inc. has a 12-month low of $189.63 and a 12-month high of $261.73.

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.