Sumitomo Mitsui DS Asset Management Company Ltd Has $3.44 Million Position in IQVIA Holdings Inc. $IQV

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd reduced its holdings in IQVIA by 52.1%, resulting in ownership of 21,803 shares valued at approximately $3.4 million.
• IQVIA reported an earnings per share of $2.81 for the last quarter, exceeding expectations of $2.77, with revenue reaching $4.02 billion against forecasts of $3.96 billion.
• Analysts are optimistic about IQVIA, with several increasing their price targets; the average target price for the stock is $229.64, with a consensus rating of "Moderate Buy."

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 52.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,803 shares of the medical research company's stock after selling 23,755 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in IQVIA were worth $3,436,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Canada Pension Plan Investment Board increased its holdings in shares of IQVIA by 7.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,594,831 shares of the medical research company's stock worth $810,069,000 after acquiring an additional 312,807 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of IQVIA by 45.7% in the 1st quarter. JPMorgan Chase & Co. now owns 2,545,014 shares of the medical research company's stock worth $448,686,000 after acquiring an additional 798,534 shares during the period. American Century Companies Inc. increased its holdings in shares of IQVIA by 26.8% in the 1st quarter. American Century Companies Inc. now owns 1,438,995 shares of the medical research company's stock worth $253,695,000 after acquiring an additional 304,258 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of IQVIA by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,428,561 shares of the medical research company's stock worth $251,852,000 after acquiring an additional 40,699 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in shares of IQVIA by 5,036.1% in the 1st quarter. Pacer Advisors Inc. now owns 871,704 shares of the medical research company's stock worth $153,681,000 after acquiring an additional 854,732 shares during the period. Institutional investors and hedge funds own 89.62% of the company's stock.

Insider Buying and Selling

In other 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 transaction, the insider owned 2,910 shares of the company's stock, valued at $557,352.30. This trade represents a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric Sherbet sold 5,800 shares of IQVIA stock in a transaction that occurred 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 in the company, valued at approximately $5,165,178.90. This represents a 17.59% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on IQV shares. Redburn Partners set a $214.00 price objective on shares of IQVIA in a report on Wednesday, September 3rd. Jefferies Financial Group raised shares of IQVIA from a "hold" rating to a "buy" rating and raised their target price for the company from $195.00 to $225.00 in a research note on Tuesday, September 9th. Truist Financial raised their target price on shares of IQVIA from $209.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Robert W. Baird raised their price objective on shares of IQVIA from $159.00 to $196.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Finally, William Blair reiterated an "outperform" rating on shares of IQVIA in a report on Wednesday, July 23rd. Eighteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $229.64.

IQVIA Stock Down 0.3%

NYSE IQV traded down $0.58 during trading on Tuesday, reaching $187.25. The company's stock had a trading volume of 401,176 shares, compared to its average volume of 1,870,672. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.45. The stock has a market capitalization of $31.83 billion, a PE ratio of 27.12, a PEG ratio of 2.06 and a beta of 1.32. The business has a 50-day moving average price of $185.35 and a 200-day moving average price of $167.16. IQVIA Holdings Inc. has a 1-year low of $134.65 and a 1-year high of $241.88.

IQVIA (NYSE:IQV - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.81 EPS 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 company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter last year, the firm posted $2.64 earnings per share. The company's quarterly 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. On average, research analysts forecast that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal year.

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.