Nippon Life Global Investors Americas Inc. Raises Stock Holdings in IQVIA Holdings Inc. $IQV

Key Points

• Nippon Life Global Investors Americas Inc. increased its stake in IQVIA Holdings by 9.3%, holding 47,350 shares worth approximately $8.35 million.
• IQVIA reported a quarterly earnings per share (EPS) of $2.81, surpassing analysts' expectations of $2.77, with a revenue of $4.02 billion.
• The company's stock is rated as a "Moderate Buy" by analysts, with a consensus price target of $229.86.

Nippon Life Global Investors Americas Inc. lifted its position in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 9.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,350 shares of the medical research company's stock after purchasing an additional 4,020 shares during the quarter. Nippon Life Global Investors Americas Inc.'s holdings in IQVIA were worth $8,348,000 as of its most recent filing with the Securities & Exchange Commission.

Several other 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 first quarter. Pacer Advisors Inc. now owns 871,704 shares of the medical research company's stock valued at $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 first quarter. JPMorgan Chase & Co. now owns 2,545,014 shares of the medical research company's stock valued at $448,686,000 after purchasing an additional 798,534 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of IQVIA by 211.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 965,302 shares of the medical research company's stock worth $189,691,000 after acquiring an additional 655,153 shares during the last quarter. Hawk Ridge Capital Management LP purchased a new stake in shares of IQVIA in the first quarter worth $77,096,000. Finally, Nuveen LLC purchased a new stake in shares of IQVIA in the first quarter worth $76,328,000. 89.62% of the stock is currently owned by institutional investors.

IQVIA Stock Performance

Shares of NYSE:IQV traded down $4.63 during midday trading on Wednesday, reaching $185.01. 461,375 shares of the company's stock traded hands, compared to its average volume of 1,907,972. The company has a market cap of $31.45 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 2.06 and a beta of 1.32. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.84 and a current ratio of 0.84. IQVIA Holdings Inc. has a one year low of $134.65 and a one year high of $248.03. The stock has a 50 day moving average of $181.03 and a 200 day moving average of $167.36.

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 for the quarter, beating analysts' consensus estimates of $2.77 by $0.04. IQVIA had a return on equity of 30.05% and a net margin of 7.88%.The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the company earned $2.64 earnings per share. IQVIA's revenue was up 5.3% on a year-over-year basis. IQVIA has set its FY 2025 guidance at 11.750-12.050 EPS. As a group, equities research analysts anticipate that IQVIA Holdings Inc. will post 10.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Redburn Partners set a $214.00 target price on IQVIA in a research note on Wednesday, September 3rd. Evercore ISI increased their target price on IQVIA from $170.00 to $180.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Truist Financial increased their target price on IQVIA from $209.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Barclays increased their target price on IQVIA from $165.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. cut their target price on IQVIA from $232.00 to $177.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Eighteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $229.64.

Insider Transactions at IQVIA

In other IQVIA news, insider Eric Sherbet sold 5,800 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $190.05, for a total value of $1,102,290.00. Following the transaction, the insider owned 27,178 shares of the company's stock, valued at approximately $5,165,178.90. This represents a 17.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Keriann Cherofsky sold 549 shares of the stock in a transaction dated 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. This represents a 15.87% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate 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.