IQVIA Holdings Inc. (NYSE:IQV) Short Interest Down 5.8% in October

IQVIA Holdings Inc. (NYSE:IQV) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 2,910,000 shares, a decline of 5.8% from the September 30th total of 3,090,000 shares. Based on an average daily volume of 1,020,000 shares, the days-to-cover ratio is currently 2.9 days. Currently, 1.6% of the shares of the stock are short sold.

IQVIA Trading Up 1.6 %

NYSE:IQV opened at $209.16 on Friday. IQVIA has a one year low of $181.03 and a one year high of $261.73. The business’s 50-day simple moving average is $234.31 and its 200 day simple moving average is $229.74. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $38.13 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 2.11 and a beta of 1.49.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Jefferies Financial Group cut IQVIA from a “buy” rating to a “hold” rating and lowered their price target for the company from $266.00 to $242.00 in a report on Wednesday, July 24th. Argus raised shares of IQVIA to a “strong-buy” rating in a research report on Wednesday, July 31st. Robert W. Baird lowered their price objective on shares of IQVIA from $256.00 to $223.00 and set a “neutral” rating for the company in a research note on Friday. UBS Group increased their target price on IQVIA from $295.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Redburn Atlantic initiated coverage on IQVIA in a research note on Monday, October 14th. They set a “buy” rating and a $276.00 price target for the company. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $261.24.

Insider Activity at IQVIA

In other news, insider Eric Sherbet sold 1,300 shares of IQVIA stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total transaction of $320,229.00. Following the completion of the sale, the insider now directly owns 19,536 shares in the company, valued at $4,812,302.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of IQVIA

Hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc raised its stake in shares of IQVIA by 733.3% in the 2nd quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 110 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in IQVIA during the 2nd quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new position in shares of IQVIA in the 3rd quarter worth approximately $27,000. Park Place Capital Corp acquired a new stake in shares of IQVIA during the 3rd quarter valued at approximately $28,000. Finally, Itau Unibanco Holding S.A. acquired a new position in IQVIA in the second quarter worth $29,000. Institutional investors and hedge funds own 89.62% of the company’s stock.

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.