Pictet Asset Management Holding SA lifted its stake in IQVIA Holdings Inc. (NYSE:IQV – Free Report) by 82.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 169,855 shares of the medical research company’s stock after purchasing an additional 76,562 shares during the period. Pictet Asset Management Holding SA’s holdings in IQVIA were worth $45,666,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in IQVIA during the 2nd quarter valued at about $2,811,292,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of IQVIA by 9.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,634,264 shares of the medical research company’s stock valued at $315,772,000 after purchasing an additional 134,997 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of IQVIA by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,657,696 shares of the medical research company’s stock worth $282,657,000 after buying an additional 66,643 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of IQVIA during the 2nd quarter worth $240,911,000. Finally, Bank of America Corp DE bought a new position in shares of IQVIA during the 2nd quarter worth $235,551,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.
IQVIA Price Performance
IQV opened at $275.44 on Wednesday. The firm has a market capitalization of $45.39 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 2.48 and a beta of 1.16. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.83 and a quick ratio of 0.83. The business’s 50-day moving average is $267.20 and its two-hundred day moving average is $211.40. IQVIA Holdings Inc. has a 1 year low of $154.50 and a 1 year high of $284.50.
IQVIA (NYSE:IQV – Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The medical research company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.26 by $0.08. IQVIA had a net margin of 8.05% and a return on equity of 30.02%. The business had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period in the prior year, the firm posted $3.00 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Research analysts anticipate that IQVIA Holdings Inc. will post 11.53 earnings per share for the current fiscal year.
Insider Activity at IQVIA
In related news, insider James G. Berkshire sold 2,668 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $261.33, for a total transaction of $697,228.44. Following the completion of the transaction, the insider owned 10,890 shares in the company, valued at $2,845,883.70. The trade was a 19.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.70% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
IQV has been the subject of several recent research reports. Truist Financial lifted their price objective on IQVIA from $329.00 to $346.00 and gave the company a “buy” rating in a report on Wednesday, October 28th. Stifel Nicolaus increased their price objective on shares of IQVIA from $276.00 to $303.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of IQVIA from $191.00 to $179.00 in a report on Thursday, October 15th. Royal Bank Of Canada boosted their price objective on shares of IQVIA from $247.00 to $319.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 29th. Finally, Weiss Ratings lowered IQVIA from a “hold (c+)” rating to a “sell (d+)” rating in a report on Wednesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, IQVIA currently has an average rating of “Moderate Buy” and an average price target of $294.21.
Check Out Our Latest Report on IQVIA
IQVIA Profile
IQVIA Holdings Inc. provides clinical research services, healthcare data and analytics, and technology solutions to pharmaceutical, biotechnology, medical-device, and other healthcare organizations. Its services support the development and commercialization of medicines and other healthcare products. The company’s offerings include clinical trial planning and management, real-world data and evidence, consulting, and software and technology platforms for life sciences research and commercial operations.
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