Bank of New York Mellon Corp Invests $180.30 Million in IQVIA Holdings Inc. $IQV

Key Points

• Bank of New York Mellon initiated a $180.3 million position in IQVIA, purchasing 933,111 shares, while institutional investors collectively own 89.62% of the company.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $241.88; several firms recently raised their targets to between $270 and $285.
• IQVIA exceeded quarterly expectations with $3.15 in adjusted earnings per share and $4.37 billion in revenue, up 8.7% year over year. The company also authorized a $2 billion share buyback, while insiders have been net sellers over the past 90 days.

Bank of New York Mellon Corp purchased a new position in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 933,111 shares of the medical research company's stock, valued at approximately $180,296,000. Bank of New York Mellon Corp owned approximately 0.57% of IQVIA at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Apella Capital LLC lifted its position in shares of IQVIA by 5.1% during the 1st quarter. Apella Capital LLC now owns 1,196 shares of the medical research company's stock worth $211,000 after buying an additional 58 shares during the last quarter. Quadrant Capital Group LLC grew its position in IQVIA by 1.3% in the fourth quarter. Quadrant Capital Group LLC now owns 4,792 shares of the medical research company's stock valued at $1,080,000 after acquiring an additional 60 shares during the last quarter. Private Advisor Group LLC raised its stake in IQVIA by 1.0% during the third quarter. Private Advisor Group LLC now owns 6,122 shares of the medical research company's stock worth $1,163,000 after acquiring an additional 63 shares in the last quarter. Breakwater Capital Group lifted its holdings in shares of IQVIA by 3.2% in the second quarter. Breakwater Capital Group now owns 2,073 shares of the medical research company's stock worth $401,000 after acquiring an additional 64 shares during the last quarter. Finally, Keybank National Association OH boosted its stake in shares of IQVIA by 0.7% in the 4th quarter. Keybank National Association OH now owns 9,103 shares of the medical research company's stock valued at $2,052,000 after purchasing an additional 67 shares in the last quarter. 89.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IQV has been the subject of several research reports. HSBC reissued a "buy" rating and issued a $240.00 price objective on shares of IQVIA in a research note on Monday, July 6th. William Blair upgraded shares of IQVIA to a "strong-buy" rating in a report on Tuesday, July 28th. BMO Capital Markets raised their price objective on IQVIA from $210.00 to $270.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. Stifel Nicolaus boosted their price objective on IQVIA from $220.00 to $276.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. upped their target price on IQVIA from $225.00 to $285.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $241.88.

IQVIA Trading Up 1.6%

NYSE:IQV opened at $260.17 on Friday. IQVIA Holdings Inc. has a 52 week low of $154.50 and a 52 week high of $260.40. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.71 and a current ratio of 0.71. The firm's fifty day moving average is $213.32 and its 200-day moving average is $187.52. The firm has a market cap of $42.82 billion, a P/E ratio of 32.28, a P/E/G ratio of 2.21 and a beta of 1.18.

IQVIA (NYSE:IQV - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The medical research company reported $3.15 earnings per share for the quarter, topping analysts' consensus estimates of $3.03 by $0.12. The firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.30 billion. IQVIA had a return on equity of 30.25% and a net margin of 8.10%.The business's revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business posted $2.81 EPS. IQVIA has set its FY 2026 guidance at 12.800-13.000 EPS. Equities analysts expect that IQVIA Holdings Inc. will post 11.57 earnings per share for the current year.

IQVIA declared that its board has initiated a share buyback program on Thursday, May 7th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other IQVIA news, insider W Richard Staub sold 5,500 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $232.68, for a total transaction of $1,279,740.00. Following the transaction, the insider directly owned 13,312 shares in the company, valued at approximately $3,097,436.16. This represents a 29.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Keriann Cherofsky sold 558 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $245.21, for a total transaction of $136,827.18. Following the sale, the insider directly owned 2,989 shares of the company's stock, valued at approximately $732,932.69. This trade represents a 15.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 12,913 shares of company stock worth $3,098,793. Company insiders own 1.70% of the company's stock.

IQVIA Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source