XTX Topco Ltd Acquires New Shares in IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• XTX Topco Ltd acquired a new position in IQVIA Holdings, purchasing 2,775 shares valued at approximately $489,000 during the first quarter.
• Several institutional investors significantly increased their holdings in IQVIA, with Pacer Advisors boosting theirs by over 5,000% to 871,704 shares worth $153.68 million.
• JPMorgan Chase cut its price target for IQVIA from $232 to $177 while retaining an "overweight" rating, amidst mixed analyst reviews leading to an overall rating of "Moderate Buy."

XTX Topco Ltd purchased a new stake in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,775 shares of the medical research company's stock, valued at approximately $489,000.

Other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in shares of IQVIA by 5,036.1% in the 1st quarter. Pacer Advisors Inc. now owns 871,704 shares of the medical research company's stock valued at $153,681,000 after buying an additional 854,732 shares in the last quarter. Canada Pension Plan Investment Board increased its position in IQVIA by 20.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 4,282,024 shares of the medical research company's stock worth $841,461,000 after acquiring an additional 712,958 shares during the period. D. E. Shaw & Co. Inc. raised its stake in IQVIA by 211.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 965,302 shares of the medical research company's stock valued at $189,691,000 after purchasing an additional 655,153 shares during the last quarter. Marshall Wace LLP boosted its holdings in IQVIA by 85.4% in the 4th quarter. Marshall Wace LLP now owns 954,294 shares of the medical research company's stock valued at $187,528,000 after purchasing an additional 439,649 shares during the period. Finally, Cadian Capital Management LP bought a new position in shares of IQVIA during the 4th quarter worth about $78,604,000. 89.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IQV. Robert W. Baird lifted their target price on IQVIA from $159.00 to $196.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Barclays boosted their price objective on IQVIA from $165.00 to $185.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 23rd. Truist Financial raised their target price on IQVIA from $209.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Redburn Partners set a $188.00 price target on shares of IQVIA in a report on Friday, May 23rd. Finally, Hsbc Global Res downgraded shares of IQVIA from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, IQVIA presently has a consensus rating of "Moderate Buy" and a consensus price target of $228.62.

IQVIA Price Performance

Shares of IQV traded up $1.03 during mid-day trading on Friday, hitting $179.98. 877,737 shares of the company traded hands, compared to its average volume of 2,400,431. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.45. The stock has a market capitalization of $30.60 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.97 and a beta of 1.30. The business has a 50-day moving average of $166.23 and a 200 day moving average of $169.20. IQVIA Holdings Inc. has a one year low of $134.65 and a one year high of $252.88.

IQVIA (NYSE:IQV - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $4.02 billion for 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 period last year, the company earned $2.64 EPS. As a group, equities analysts expect that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Keriann Cherofsky sold 549 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $191.53, for a total value of $105,149.97. Following the completion of the sale, the insider owned 2,910 shares in the company, valued at approximately $557,352.30. This represents a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Eric Sherbet sold 5,800 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were 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 $5,165,178.90. The trade was a 17.59% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

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.