Cullen Investment Group LTD. Makes New Investment in IQVIA Holdings Inc. (NYSE:IQV)

Cullen Investment Group LTD. purchased a new stake in IQVIA Holdings Inc. (NYSE:IQV - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,200 shares of the medical research company's stock, valued at approximately $4,442,000.

A number of other hedge funds have also made changes to their positions in IQV. AdvisorNet Financial Inc increased its position in shares of IQVIA by 327.6% in the fourth quarter. AdvisorNet Financial Inc now owns 124 shares of the medical research company's stock valued at $29,000 after buying an additional 95 shares in the last quarter. BKM Wealth Management LLC purchased a new position in shares of IQVIA in the fourth quarter valued at $32,000. ST Germain D J Co. Inc. purchased a new position in shares of IQVIA in the second quarter valued at $33,000. Activest Wealth Management purchased a new stake in IQVIA during the 4th quarter worth about $35,000. Finally, Live Oak Investment Partners purchased a new stake in IQVIA during the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 89.62% of the company's stock.

Insider Buying and Selling

In related news, insider Ari Bousbib sold 31,678 shares of the business's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the transaction, the insider now directly owns 796,752 shares of the company's stock, valued at approximately $199,610,278.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other IQVIA news, insider Eric Sherbet sold 1,000 shares of IQVIA stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $241.50, for a total transaction of $241,500.00. Following the sale, the insider now directly owns 20,836 shares in the company, valued at approximately $5,031,894. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ari Bousbib sold 31,678 shares of IQVIA stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $250.53, for a total value of $7,936,289.34. Following the sale, the insider now owns 796,752 shares in the company, valued at $199,610,278.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,285 shares of company stock valued at $10,331,003. Corporate insiders own 1.60% of the company's stock.

IQVIA Trading Down 1.3 %

Shares of NYSE IQV traded down $3.08 during midday trading on Monday, hitting $231.15. The stock had a trading volume of 609,477 shares, compared to its average volume of 978,119. The company has a market capitalization of $41.95 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 2.27 and a beta of 1.50. IQVIA Holdings Inc. has a 1-year low of $167.42 and a 1-year high of $261.73. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 2.12. The company has a fifty day moving average price of $243.47 and a 200 day moving average price of $220.87.

IQVIA (NYSE:IQV - Get Free Report) last released its quarterly earnings data on Wednesday, February 14th. The medical research company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.02. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.80 billion. IQVIA had a return on equity of 29.32% and a net margin of 9.06%. The company's revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.54 EPS. On average, analysts predict that IQVIA Holdings Inc. will post 10.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on IQV. Leerink Partnrs reiterated an "outperform" rating on shares of IQVIA in a research report on Monday, February 26th. UBS Group lifted their price objective on IQVIA from $240.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, February 15th. Evercore ISI lifted their price objective on IQVIA from $255.00 to $265.00 and gave the stock a "market outperform" rating in a research report on Thursday, February 15th. Truist Financial lifted their price objective on IQVIA from $286.00 to $297.00 and gave the stock a "buy" rating in a research report on Tuesday, February 27th. Finally, Barclays lifted their price target on IQVIA from $260.00 to $265.00 and gave the company an "overweight" rating in a report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $256.80.

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.