Patton Fund Management Inc. Acquires New Shares in IQVIA Holdings Inc. $IQV

Key Points

• Patton Fund Management Inc. acquired 1,464 shares of IQVIA Holdings Inc., valued at approximately $231,000, in the second quarter, reflecting increasing institutional interest in the company.
• JPMorgan Chase & Co. boosted its stake in IQVIA by 45.7% in the first quarter, amassing over 2.5 million shares worth nearly $449 million, contributing to a total of 89.62% of the stock owned by institutional investors.
• Analysts have set a consensus target price of $229.64 for IQVIA, with many upgrading their ratings and indicating strong buy sentiments for the company's stock.

Patton Fund Management Inc. bought a new position in IQVIA Holdings Inc. (NYSE:IQV - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,464 shares of the medical research company's stock, valued at approximately $231,000.

A number of other large investors have also recently made changes to their positions in IQV. Pacer Advisors Inc. grew its position in 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 purchasing an additional 854,732 shares during the period. JPMorgan Chase & Co. boosted its stake 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 buying an additional 798,534 shares during the last quarter. Hawk Ridge Capital Management LP bought a new stake in shares of IQVIA in the first quarter worth $77,096,000. Nuveen LLC purchased a new stake in IQVIA during the first quarter valued at $76,328,000. Finally, GAMMA Investing LLC lifted its holdings in IQVIA by 27,448.4% in the first quarter. GAMMA Investing LLC now owns 387,331 shares of the medical research company's stock valued at $68,286,000 after acquiring an additional 385,925 shares during the period. 89.62% of the stock is currently owned by institutional investors.

Insider Buying and Selling at IQVIA

In related news, insider Eric Sherbet sold 5,800 shares of the company'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 owned 27,178 shares in the company, valued at approximately $5,165,178.90. This represents a 17.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Keriann Cherofsky sold 549 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $191.53, for a total transaction of $105,149.97. Following the transaction, the insider directly owned 2,910 shares of the company's stock, valued at $557,352.30. The trade was a 15.87% 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.

Analysts Set New Price Targets

IQV has been the subject of several research reports. Redburn Partners set a $214.00 price target on shares of IQVIA in a research report on Wednesday, September 3rd. William Blair reaffirmed an "outperform" rating on shares of IQVIA in a report on Wednesday, July 23rd. Jefferies Financial Group upgraded shares of IQVIA from a "hold" rating to a "buy" rating and lifted their price target for the stock from $195.00 to $225.00 in a research note on Tuesday, September 9th. UBS Group upped their price objective on IQVIA from $185.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Cowen reiterated a "buy" rating on shares of IQVIA in a research report on Wednesday, July 23rd. Eighteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, IQVIA has an average rating of "Moderate Buy" and a consensus target price of $229.64.

IQVIA Trading Up 1.6%

Shares of IQV stock opened at $179.51 on Monday. The stock has a fifty day simple moving average of $187.01 and a two-hundred day simple moving average of $167.05. IQVIA Holdings Inc. has a 52-week low of $134.65 and a 52-week high of $237.34. The firm has a market capitalization of $30.52 billion, a PE ratio of 25.98, a PEG ratio of 1.97 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 (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, topping analysts' consensus estimates of $2.77 by $0.04. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.96 billion. IQVIA had a return on equity of 30.05% and a net margin of 7.88%.The business's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.64 earnings per share. IQVIA has set its FY 2025 guidance at 11.750-12.050 EPS. On average, analysts predict that IQVIA Holdings Inc. will post 10.84 EPS for the current fiscal year.

IQVIA Company Profile

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.

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