SaddleRock Capital Management LLC acquired a new position in IQVIA Holdings Inc. (NYSE:IQV – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 49,433 shares of the medical research company’s stock, valued at approximately $9,551,000. IQVIA makes up about 9.2% of SaddleRock Capital Management LLC’s investment portfolio, making the stock its 4th biggest position.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Korea Investment CORP acquired a new position in shares of IQVIA in the 2nd quarter valued at $13,918,000. BlackRock Inc. purchased a new stake in IQVIA during the 2nd quarter valued at about $2,811,292,000. Concurrent Investment Advisors LLC increased its holdings in shares of IQVIA by 36.0% in the fourth quarter. Concurrent Investment Advisors LLC now owns 11,948 shares of the medical research company’s stock valued at $2,693,000 after purchasing an additional 3,161 shares during the period. Focus Partners Advisor Solutions LLC purchased a new position in shares of IQVIA in the second quarter worth about $976,000. Finally, Nippon Life Global Investors Americas Inc. raised its stake in shares of IQVIA by 36.6% in the fourth quarter. Nippon Life Global Investors Americas Inc. now owns 79,400 shares of the medical research company’s stock worth $17,898,000 after purchasing an additional 21,270 shares during the last quarter. 89.62% of the stock is currently owned by hedge funds and other institutional investors.
IQVIA Stock Up 0.2%
IQVIA stock opened at $260.30 on Tuesday. The business’s 50-day moving average price is $214.97 and its 200 day moving average price is $187.62. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 2.18. The firm has a market cap of $42.85 billion, a price-to-earnings ratio of 32.30, a price-to-earnings-growth ratio of 2.21 and a beta of 1.18. IQVIA Holdings Inc. has a 52 week low of $154.50 and a 52 week high of $261.88.
IQVIA declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 7th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the medical research company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
Insider Activity
In related news, insider Eric Sherbet sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $249.16, for a total transaction of $1,245,800.00. Following the sale, the insider owned 20,999 shares in the company, valued at approximately $5,232,110.84. This trade represents a 19.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Keriann Cherofsky sold 558 shares of IQVIA stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $245.21, for a total transaction of $136,827.18. Following the completion of the transaction, the insider directly owned 2,989 shares of the company’s stock, valued at $732,932.69. The trade was a 15.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 12,913 shares of company stock valued at $3,098,793. 1.70% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of equities research analysts recently commented on IQV shares. Morgan Stanley reiterated an “equal weight” rating and issued a $200.00 target price (down from $225.00) on shares of IQVIA in a research report on Wednesday, June 17th. Wall Street Zen raised shares of IQVIA from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Royal Bank Of Canada lifted their price objective on shares of IQVIA from $221.00 to $247.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. HSBC reaffirmed a “buy” rating and issued a $240.00 price objective on shares of IQVIA in a report on Monday, July 6th. Finally, Stifel Nicolaus increased their price objective on shares of IQVIA from $220.00 to $276.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, IQVIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.88.
Read Our Latest Research Report on IQVIA
IQVIA Profile
IQVIA (NYSE: IQV) is a global provider of advanced analytics, technology solutions and contract research services to the life sciences industry. The company combines clinical research capabilities with large-scale health data and analytics to support drug development, regulatory reporting, commercial strategy and real‑world evidence generation. IQVIA traces its current form to the combination of Quintiles and IMS Health announced in 2016 and subsequently rebranded as IQVIA, bringing together long-established clinical research operations and extensive healthcare information assets.
IQVIA’s principal activities include outsourced clinical development services (acting as a contract research organization for phases I–IV), real‑world evidence and observational research, regulatory and safety services, and a suite of technology platforms that enable data integration, analytics and operational management.
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