Short Interest in IQVIA Holdings Inc. (NYSE:IQV) Expands By 33.2%
IQVIA Holdings Inc. (NYSE:IQV – Get Free Report) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 4,050,000 shares, an increase of 33.2% from the October 31st total of 3,040,000 shares. Based on an average daily volume of 1,270,000 shares, the days-to-cover ratio is presently 3.2 days. Currently, 2.2% of the shares of the company are sold short.
IQVIA Trading Up 1.3 %
Shares of NYSE IQV traded up $2.81 during midday trading on Friday, hitting $216.91. The stock had a trading volume of 1,195,374 shares, compared to its average volume of 1,323,990. The company’s 50-day simple moving average is $197.73 and its 200 day simple moving average is $208.71. The firm has a market cap of $39.59 billion, a P/E ratio of 36.46, a price-to-earnings-growth ratio of 2.77 and a beta of 1.44. IQVIA has a fifty-two week low of $167.42 and a fifty-two week high of $241.86. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.79 and a quick ratio of 0.79.
IQVIA (NYSE:IQV – Get Free Report) last released its earnings results on Wednesday, November 1st. The medical research company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.21 by $0.08. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.78 billion. IQVIA had a return on equity of 29.60% and a net margin of 7.51%. Research analysts anticipate that IQVIA will post 9.2 EPS for the current year.
Insider Activity at IQVIA
In other IQVIA news, insider Constantinos Panagos sold 27,317 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $208.67, for a total value of $5,700,238.39. Following the sale, the insider now owns 14,250 shares of the company’s stock, valued at approximately $2,973,547.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On IQVIA
Institutional investors have recently made changes to their positions in the stock. Old North State Trust LLC grew its stake in shares of IQVIA by 342.2% during the first quarter. Old North State Trust LLC now owns 597 shares of the medical research company’s stock worth $27,000 after purchasing an additional 462 shares during the period. ST Germain D J Co. Inc. bought a new position in IQVIA during the second quarter worth about $33,000. Live Oak Investment Partners bought a new position in IQVIA during the fourth quarter worth about $41,000. MBM Wealth Consultants LLC bought a new position in IQVIA during the fourth quarter worth about $51,000. Finally, KB Financial Partners LLC bought a new position in IQVIA during the first quarter worth about $53,000. 86.82% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on IQV shares. Guggenheim lowered their target price on IQVIA from $253.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. HSBC assumed coverage on IQVIA in a research report on Wednesday, September 6th. They issued a “buy” rating and a $260.00 price objective for the company. Morgan Stanley reduced their price objective on IQVIA from $240.00 to $225.00 and set an “overweight” rating for the company in a research report on Friday, November 3rd. Mizuho cut their target price on IQVIA from $250.00 to $229.00 and set a “buy” rating for the company in a research report on Tuesday, October 10th. Finally, Evercore ISI cut their target price on IQVIA from $260.00 to $240.00 in a research report on Wednesday, October 11th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $236.57.
View Our Latest Research Report on IQV
IQVIA Company Profile (Get Free Report)
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.
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Original: MarketBeat News Feed: Short Interest in IQVIA Holdings Inc. (NYSE:IQV) Expands By 33.2%