5 Stocks to Sell According to Billionaire Dan Loeb

3. IQVIA Holdings, Inc. (NYSE:IQV)

Third Point’s Stake Value in Q1 2022: $254,331,000

Percentage of Third Point’s 13F Portfolio in Q1 2022: 3.31%

Number of Hedge Fund Holders: 53

Research Triangle Park, North Carolina-based IQVIA Holdings, Inc. (NYSE:IQV) is a leading global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry. It operates in more than 100 countries.

As of Q1 2022, Dan Loeb’s Third Point owned 1,100,000 shares of IQVIA Holdings, Inc. (NYSE:IQV), accounting for 3.31% of the hedge fund’s 13F portfolio. The hedge fund shrunk its stake in the company by 17% in Q1 2022 and dumped the rest of the stake in the second quarter.

On October 6, Barclays analyst Luke Sergott lowered the price target on IQVIA Holdings, Inc. (NYSE:IQV) shares to $215 from $235 but maintained an ‘Overweight’ rating on the shares. The analyst believes there is a potential for guide-downs and misses based on currency fluctuations for the life science tools and diagnostics group.

As of Q2 2022, 53 of the 895 hedge funds tracked by Insider Monkey held IQVIA Holdings, Inc. (NYSE:IQV) shares, valued at a combined total of $2.8 billion. Thomas Steyer’s Farallon Capital was its largest hedge fund shareholder with ownership of 3.2 million shares valued at 697 million.