Coronation Fund Managers Ltd. Buys New Shares in IQVIA Holdings Inc. $IQV

Key Points

• Coronation Fund Managers Ltd. acquired a new stake in IQVIA Holdings Inc., purchasing 14,391 shares valued at around $2.27 million during the 2nd quarter.
• IQVIA reported earnings of $2.81 per share for the quarter, which surpassed analysts' expectations, with revenue reaching $4.02 billion, a 5.3% increase year-over-year.
• Analysts have set a consensus price target of $234.57 for IQVIA, with ratings indicating it's a Moderate Buy with a mix of buy and hold recommendations from multiple equities research analysts.

Coronation Fund Managers Ltd. bought a new stake in IQVIA Holdings Inc. (NYSE:IQV - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,391 shares of the medical research company's stock, valued at approximately $2,268,000.

Several other institutional investors have also recently made changes to their positions in IQV. Whittier Trust Co. of Nevada Inc. increased its position in shares of IQVIA by 2.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 54,680 shares of the medical research company's stock worth $8,617,000 after acquiring an additional 1,076 shares in the last quarter. Whittier Trust Co. increased its position in shares of IQVIA by 7.7% during the second quarter. Whittier Trust Co. now owns 131,359 shares of the medical research company's stock worth $20,700,000 after acquiring an additional 9,416 shares in the last quarter. Liberty One Investment Management LLC increased its position in shares of IQVIA by 7.7% during the second quarter. Liberty One Investment Management LLC now owns 3,323 shares of the medical research company's stock worth $524,000 after acquiring an additional 238 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in IQVIA by 4.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 198,648 shares of the medical research company's stock worth $31,225,000 after purchasing an additional 7,929 shares in the last quarter. Finally, Stephens Inc. AR bought a new stake in IQVIA in the 2nd quarter worth about $3,192,000. Institutional investors and hedge funds own 89.62% of the company's stock.

IQVIA Stock Performance

NYSE IQV opened at $212.30 on Tuesday. IQVIA Holdings Inc. has a 1 year low of $134.65 and a 1 year high of $235.32. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $36.09 billion, a PE ratio of 30.72, a P/E/G ratio of 2.25 and a beta of 1.32. The company's 50 day simple moving average is $192.05 and its two-hundred day simple moving average is $169.60.

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

Insider Buying and Selling at IQVIA

In other news, insider Eric Sherbet sold 5,800 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $190.05, for a total transaction of $1,102,290.00. Following the sale, the insider owned 27,178 shares in the company, valued at approximately $5,165,178.90. This trade represents a 17.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Keriann Cherofsky sold 549 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $191.53, for a total transaction of $105,149.97. Following the transaction, the insider directly owned 2,910 shares in the company, valued at approximately $557,352.30. This represents a 15.87% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IQV shares. Barclays increased their target price 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. William Blair reissued an "outperform" rating on shares of IQVIA in a research report on Wednesday, July 23rd. Cowen reissued a "buy" rating on shares of IQVIA in a research report on Wednesday, July 23rd. Truist Financial increased their target price on shares of IQVIA from $209.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Redburn Partners set a $214.00 price target on shares of IQVIA in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $234.57.

IQVIA 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.

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