First Manhattan CO. LLC. Buys 27,861 Shares of IQVIA Holdings Inc. $IQV

Key Points

• First Manhattan CO. LLC increased its stake in IQVIA Holdings Inc. by 13.6%, now holding 233,412 shares valued at approximately $41.15 million.
• IQVIA Holdings reported a net margin of 7.88% and achieved $4.02 billion in revenue for the last quarter, surpassing estimates.
• Wall Street analysts are optimistic, with a consensus rating of "Moderate Buy" and an average target price of $228.62 for IQVIA shares.

First Manhattan CO. LLC. raised its position in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 13.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 233,412 shares of the medical research company's stock after acquiring an additional 27,861 shares during the quarter. First Manhattan CO. LLC. owned about 0.13% of IQVIA worth $41,151,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in IQV. Pacer Advisors Inc. boosted its position in shares of IQVIA by 5,036.1% during the 1st quarter. Pacer Advisors Inc. now owns 871,704 shares of the medical research company's stock worth $153,681,000 after purchasing an additional 854,732 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of IQVIA by 45.7% during the 1st quarter. JPMorgan Chase & Co. now owns 2,545,014 shares of the medical research company's stock worth $448,686,000 after purchasing an additional 798,534 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of IQVIA by 211.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 965,302 shares of the medical research company's stock worth $189,691,000 after purchasing an additional 655,153 shares in the last quarter. Nuveen LLC bought a new position in shares of IQVIA during the 1st quarter worth about $76,328,000. Finally, Cadian Capital Management LP bought a new position in shares of IQVIA during the 4th quarter worth about $78,604,000. Institutional investors own 89.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Truist Financial upped their target price on shares of IQVIA from $209.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Citigroup restated a "neutral" rating on shares of IQVIA in a report on Thursday, May 22nd. JPMorgan Chase & Co. lowered their target price on shares of IQVIA from $232.00 to $177.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Cowen restated a "buy" rating on shares of IQVIA in a report on Wednesday, July 23rd. Finally, Redburn Partners set a $214.00 price objective on shares of IQVIA in a research note on Wednesday. Seventeen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, IQVIA has an average rating of "Moderate Buy" and an average price target of $229.86.

IQVIA Stock Performance

Shares of IQV stock traded up $3.67 during trading hours on Friday, hitting $187.75. 1,263,215 shares of the company were exchanged, compared to its average volume of 1,128,696. The firm has a fifty day simple moving average of $179.88 and a 200 day simple moving average of $167.61. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.45. IQVIA Holdings Inc. has a 52-week low of $134.65 and a 52-week high of $249.43. The stock has a market capitalization of $31.92 billion, a price-to-earnings ratio of 27.17, a P/E/G ratio of 2.02 and a beta of 1.32.

IQVIA (NYSE:IQV - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share for the quarter, beating 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 business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the business earned $2.64 EPS. IQVIA's revenue was up 5.3% compared to the same quarter last year. IQVIA has set its FY 2025 guidance at 11.750-12.050 EPS. Research analysts predict that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Keriann Cherofsky sold 549 shares of IQVIA stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $191.53, for a total value of $105,149.97. Following the completion of the transaction, the insider directly owned 2,910 shares in the company, valued at approximately $557,352.30. The trade was a 15.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the transaction, the insider directly owned 27,178 shares of the company's stock, valued at approximately $5,165,178.90. The trade was a 17.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

About IQVIA

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.