AlTi Global Inc. Increases Position in IQVIA Holdings Inc. $IQV

AlTi Global Inc. increased its stake in IQVIA Holdings Inc. (NYSE:IQV) by 124.6% in the 2nd quarter, Holdings Channel reports. The fund owned 6,591 shares of the medical research company’s stock after buying an additional 3,656 shares during the quarter. AlTi Global Inc.’s holdings in IQVIA were worth $1,067,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. grew its position in IQVIA by 83.5% in the first quarter. Mather Group LLC. now owns 769 shares of the medical research company’s stock worth $136,000 after acquiring an additional 350 shares in the last quarter. Patton Fund Management Inc. purchased a new stake in IQVIA during the second quarter valued at about $231,000. Verdence Capital Advisors LLC purchased a new stake in IQVIA during the second quarter valued at about $3,612,000. Private Advisor Group LLC boosted its position in IQVIA by 11.6% during the first quarter. Private Advisor Group LLC now owns 5,435 shares of the medical research company’s stock valued at $958,000 after buying an additional 566 shares during the period. Finally, Nordea Investment Management AB boosted its position in IQVIA by 41.7% during the second quarter. Nordea Investment Management AB now owns 2,060,460 shares of the medical research company’s stock valued at $326,274,000 after buying an additional 606,391 shares during the period. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on IQV. Barclays upped their price target on shares of IQVIA from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Thursday, October 2nd. Cowen restated a “buy” rating on shares of IQVIA in a research report on Wednesday, July 23rd. Jefferies Financial Group upgraded shares of IQVIA from a “hold” rating to a “buy” rating and upped their price target for the company from $195.00 to $225.00 in a research report on Tuesday, September 9th. HSBC upgraded shares of IQVIA from a “hold” rating to a “buy” rating and upped their price target for the company from $195.00 to $235.00 in a research report on Thursday, October 9th. Finally, William Blair restated an “outperform” rating on shares of IQVIA in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $234.57.

IQVIA Stock Performance

IQVIA stock opened at $220.64 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.45. The firm has a 50-day moving average of $194.47 and a 200-day moving average of $171.27. The firm has a market cap of $37.51 billion, a P/E ratio of 31.93, a P/E/G ratio of 2.42 and a beta of 1.32. IQVIA Holdings Inc. has a 1-year low of $134.65 and a 1-year high of $225.91.

IQVIA (NYSE:IQV) last posted its earnings results on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.04. IQVIA had a net margin of 7.88% and a return on equity of 30.05%. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the business posted $2.64 earnings per share. IQVIA’s revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts expect that IQVIA Holdings Inc. will post 10.84 EPS for the current year.

IQVIA Company 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.