IQVIA Holdings Inc. $IQV Stock: Pictet Asset Management Holding SA Increases Stake

Key Points

• Pictet Asset Management increased its IQVIA stake by 82.1% in the third quarter, adding 76,562 shares to reach 169,855 shares valued at about $45.7 million.
• IQVIA reported quarterly earnings of $3.34 per share, beating estimates of $3.26, while revenue of $4.43 billion also topped forecasts and grew 8% year over year.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $294.21; recent targets included UBS’s $345 and Stifel Nicolaus’s $303.

Pictet Asset Management Holding SA lifted its position in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 82.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 169,855 shares of the medical research company's stock after buying an additional 76,562 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.10% of IQVIA worth $45,666,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Ascentis Independent Advisors purchased a new stake in shares of IQVIA during the first quarter worth about $25,000. Compass Financial Management LLC purchased a new position in IQVIA in the 2nd quarter worth approximately $27,000. Elevation Wealth Partners LLC lifted its holdings in IQVIA by 218.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 153 shares of the medical research company's stock worth $30,000 after purchasing an additional 105 shares in the last quarter. Pension & Wealth Management Advisors Inc. bought a new position in IQVIA in the 3rd quarter worth approximately $30,000. Finally, Caitlin John LLC bought a new position in IQVIA in the 2nd quarter worth approximately $31,000. 89.62% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider James G. Berkshire sold 2,668 shares of the firm's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $261.33, for a total value of $697,228.44. Following the completion of the sale, the insider directly owned 10,890 shares in the company, valued at $2,845,883.70. This trade represents a 19.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

IQV has been the topic of several research analyst reports. Stifel Nicolaus boosted their target price on shares of IQVIA from $276.00 to $303.00 and gave the stock a "buy" rating in a report on Wednesday, October 14th. Mizuho increased their price objective on shares of IQVIA from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Wednesday, October 7th. Rothschild & Co Redburn raised their price objective on IQVIA from $284.00 to $287.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. UBS Group started coverage on IQVIA in a report on Wednesday, September 30th. They issued a "buy" rating and a $345.00 target price on the stock. Finally, BMO Capital Markets boosted their target price on IQVIA from $270.00 to $305.00 in a research report on Monday, October 19th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $294.21.

IQVIA Stock Down 1.2%

Shares of NYSE IQV opened at $275.44 on Wednesday. The firm's 50-day moving average price is $267.20 and its 200-day moving average price is $211.40. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $45.39 billion, a price-to-earnings ratio of 24.08, a P/E/G ratio of 2.48 and a beta of 1.16. IQVIA Holdings Inc. has a 12-month low of $154.50 and a 12-month high of $284.50.

IQVIA (NYSE:IQV - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The medical research company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.08. The company had revenue of $4.43 billion for the quarter, compared to analysts' expectations of $4.37 billion. IQVIA had a return on equity of 30.02% and a net margin of 8.05%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.00 earnings per share. On average, equities research analysts anticipate that IQVIA Holdings Inc. will post 11.53 EPS for the current fiscal year.

IQVIA Profile

IQVIA Holdings Inc. provides clinical research services, healthcare data and analytics, and technology solutions to pharmaceutical, biotechnology, medical-device, and other healthcare organizations. Its services support the development and commercialization of medicines and other healthcare products. The company's offerings include clinical trial planning and management, real-world data and evidence, consulting, and software and technology platforms for life sciences research and commercial operations.

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