Sumitomo Mitsui Trust Group Inc. Acquires 93,779 Shares of IQVIA Holdings Inc. $IQV

Key Points

• Sumitomo Mitsui Trust Group increased its stake in IQVIA by 8.3% in the first quarter, buying 93,779 more shares and ending with 1,225,851 shares worth about $209 million.
• IQVIA reported better-than-expected quarterly results, with EPS of $2.90 versus $2.83 expected and revenue of $4.15 billion, up 8.4% year over year.
• The company’s board approved a $2 billion share buyback program, while analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of $224.82.

Sumitomo Mitsui Trust Group Inc. lifted its holdings in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 8.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,225,851 shares of the medical research company's stock after buying an additional 93,779 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.72% of IQVIA worth $209,057,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Ameliora Wealth Management Ltd. bought a new stake in shares of IQVIA in the 4th quarter valued at approximately $25,000. Ascentis Independent Advisors purchased a new stake in IQVIA during the 1st quarter valued at $25,000. International Assets Investment Management LLC bought a new stake in IQVIA in the fourth quarter worth $27,000. Gilpin Wealth Management LLC bought a new stake in IQVIA in the fourth quarter worth $27,000. Finally, CrossGen Wealth LLC purchased a new position in IQVIA during the fourth quarter worth $28,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

IQVIA Price Performance

Shares of IQV stock opened at $209.18 on Friday. The company has a market capitalization of $34.91 billion, a P/E ratio of 25.92, a P/E/G ratio of 1.75 and a beta of 1.20. The company's 50-day simple moving average is $180.59 and its two-hundred day simple moving average is $188.64. IQVIA Holdings Inc. has a one year low of $154.50 and a one year high of $247.04. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.75 and a quick ratio of 0.75.

IQVIA (NYSE:IQV - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The medical research company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.07. IQVIA had a net margin of 8.33% and a return on equity of 30.50%. The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the previous year, the firm posted $2.70 earnings per share. The company's revenue was up 8.4% on a year-over-year basis. IQVIA has set its FY 2026 guidance at 12.650-12.950 EPS. As a group, equities analysts anticipate that IQVIA Holdings Inc. will post 11.6 EPS for the current year.

IQVIA declared that its board has initiated a share repurchase program on Thursday, May 7th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

IQV has been the topic of several recent analyst reports. HSBC reissued a "buy" rating and issued a $240.00 target price on shares of IQVIA in a research note on Monday. Deutsche Bank Aktiengesellschaft set a $240.00 price objective on shares of IQVIA in a research report on Thursday. Evercore reissued an "outperform" rating and issued a $185.00 price objective on shares of IQVIA in a research note on Wednesday, April 8th. Robert W. Baird boosted their target price on IQVIA from $230.00 to $249.00 and gave the company an "outperform" rating in a research report on Wednesday, July 1st. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $200.00 price target (down from $225.00) on shares of IQVIA in a report on Wednesday, June 17th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, IQVIA has an average rating of "Moderate Buy" and a consensus price target of $224.82.

About IQVIA

IQVIA NYSE: IQV is a global provider of advanced analytics, technology solutions and contract research services to the life sciences industry. The company combines clinical research capabilities with large-scale health data and analytics to support drug development, regulatory reporting, commercial strategy and real‑world evidence generation. IQVIA traces its current form to the combination of Quintiles and IMS Health announced in 2016 and subsequently rebranded as IQVIA, bringing together long-established clinical research operations and extensive healthcare information assets.

IQVIA's principal activities include outsourced clinical development services (acting as a contract research organization for phases I–IV), real‑world evidence and observational research, regulatory and safety services, and a suite of technology platforms that enable data integration, analytics and operational management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.