Strs Ohio Takes Position in IQVIA Holdings Inc. $IQV

Key Points

• Strs Ohio has taken a new position in IQVIA Holdings Inc., purchasing 130,000 shares valued at approximately $22.92 million, representing 0.08% of the company.
• IQVIA recently reported quarterly earnings of $2.81 EPS, beating analysts' expectations, with revenue increasing by 5.3% year-over-year to $4.02 billion.
• Wall Street analysts have a consensus rating of "Moderate Buy" for IQVIA, with an average price target of $229.64, reflecting strong growth expectations for the company.

Strs Ohio purchased a new stake in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 130,000 shares of the medical research company's stock, valued at approximately $22,919,000. Strs Ohio owned about 0.08% of IQVIA as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Canada Pension Plan Investment Board increased its stake in shares of IQVIA by 7.3% during the first quarter. Canada Pension Plan Investment Board now owns 4,594,831 shares of the medical research company's stock valued at $810,069,000 after purchasing an additional 312,807 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of IQVIA by 45.7% in the first 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 period. American Century Companies Inc. boosted its holdings in 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 buying an additional 304,258 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of IQVIA by 2.9% during the first 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 last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in IQVIA by 13.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,393,140 shares of the medical research company's stock worth $273,766,000 after purchasing an additional 167,057 shares during the last quarter. 89.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other IQVIA news, insider Eric Sherbet sold 5,800 shares of the business's stock in a transaction on 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 completion of the transaction, the insider directly owned 27,178 shares in the company, valued at approximately $5,165,178.90. The trade was a 17.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Keriann Cherofsky sold 549 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider owned 2,910 shares of the company's stock, valued at approximately $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 owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IQV. Redburn Partners set a $214.00 target price on shares of IQVIA in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. reduced their price target on IQVIA from $232.00 to $177.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Evercore ISI raised their target price on IQVIA from $170.00 to $180.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Citigroup reissued a "neutral" rating on shares of IQVIA in a research note on Thursday, May 22nd. Finally, Barclays increased their target price on IQVIA from $165.00 to $185.00 and gave the company an "equal weight" rating in a report on Wednesday, July 23rd. Eighteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $229.64.

IQVIA Trading Up 0.5%

Shares of NYSE IQV traded up $1.00 during trading on Tuesday, reaching $186.97. The stock had a trading volume of 1,005,530 shares, compared to its average volume of 1,893,994. The business's 50-day moving average price is $183.32 and its 200-day moving average price is $167.24. 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 fifty-two week low of $134.65 and a fifty-two week high of $248.03. The company has a market cap of $31.78 billion, a P/E ratio of 27.06, a PEG ratio of 2.06 and a beta of 1.32.

IQVIA (NYSE:IQV - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share for the quarter, topping the consensus estimate 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 business earned $2.64 EPS. 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. On average, equities research 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.