Pacer Advisors Inc. Grows Stake in IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• Pacer Advisors Inc. significantly increased its stake in IQVIA Holdings Inc. by 5,036.1%, acquiring a total of 871,704 shares valued at approximately $153.68 million.
• IQVIA's recent financial performance includes a reported EPS of $2.81, surpassing analysts' expectations of $2.77, and a revenue of $4.02 billion during the latest quarter.
• Seven analysts have recommended a hold rating for IQVIA, while seventeen have issued buy ratings, reflecting a consensus outlook of a "Moderate Buy" with a target price of $226.95.

Pacer Advisors Inc. raised its stake in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 5,036.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 871,704 shares of the medical research company's stock after purchasing an additional 854,732 shares during the period. Pacer Advisors Inc. owned 0.49% of IQVIA worth $153,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. American National Bank & Trust purchased a new position in IQVIA during the first quarter worth $26,000. Golden State Wealth Management LLC lifted its holdings in shares of IQVIA by 295.5% in the 1st quarter. Golden State Wealth Management LLC now owns 174 shares of the medical research company's stock worth $31,000 after acquiring an additional 130 shares during the last quarter. AllSquare Wealth Management LLC bought a new position in IQVIA during the 1st quarter valued at about $33,000. ST Germain D J Co. Inc. raised its position in IQVIA by 66.1% in the 1st quarter. ST Germain D J Co. Inc. now owns 191 shares of the medical research company's stock worth $34,000 after purchasing an additional 76 shares during the period. Finally, GKV Capital Management Co. Inc. bought a new stake in IQVIA in the fourth quarter worth about $39,000. 89.62% of the stock is owned by institutional investors.

IQVIA Stock Performance

Shares of IQV opened at $201.06 on Friday. IQVIA Holdings Inc. has a 12 month low of $134.65 and a 12 month high of $252.88. The stock has a fifty day moving average price of $155.96 and a 200-day moving average price of $170.53. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.45. The firm has a market cap of $34.18 billion, a PE ratio of 29.10, a P/E/G ratio of 2.29 and a beta of 1.30.

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 return on equity of 30.05% and a net margin of 7.88%. The company had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.96 billion. During the same period last year, the business posted $2.64 earnings per share. The firm's revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Cowen reiterated a "buy" rating on shares of IQVIA in a research report on Wednesday. Barclays lifted their price objective on shares of IQVIA from $165.00 to $185.00 and gave the company an "equal weight" rating in a report on Wednesday. Evercore ISI upped their target price on shares of IQVIA from $170.00 to $180.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. reduced their target price on shares of IQVIA from $232.00 to $177.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Finally, Redburn Partners set a $188.00 price target on IQVIA in a report on Friday, May 23rd. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, IQVIA has a consensus rating of "Moderate Buy" and a consensus target price of $226.95.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.