DAVENPORT & Co LLC Purchases 153 Shares of IQVIA Holdings Inc. $IQV

DAVENPORT & Co LLC lifted its position in shares of IQVIA Holdings Inc. (NYSE:IQV) by 6.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,449 shares of the medical research company’s stock after buying an additional 153 shares during the quarter. DAVENPORT & Co LLC’s holdings in IQVIA were worth $386,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in IQV. Pacer Advisors Inc. increased its position in shares of IQVIA by 5,036.1% during the first quarter. Pacer Advisors Inc. now owns 871,704 shares of the medical research company’s stock valued at $153,681,000 after acquiring an additional 854,732 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in 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 purchasing an additional 798,534 shares during the last quarter. Hawk Ridge Capital Management LP purchased a new stake in IQVIA in the first quarter worth approximately $77,096,000. Nuveen LLC purchased a new stake in IQVIA in the first quarter worth approximately $76,328,000. Finally, Platinum Investment Management Ltd. purchased a new stake in IQVIA in the second quarter worth approximately $61,585,000. Institutional investors own 89.62% of the company’s stock.

IQVIA Trading Down 2.3%

Shares of IQVIA stock opened at $198.35 on Monday. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.84 and a quick ratio of 0.84. IQVIA Holdings Inc. has a 1-year low of $134.65 and a 1-year high of $237.34. The company’s fifty day simple moving average is $189.02 and its 200-day simple moving average is $168.11. The stock has a market capitalization of $33.72 billion, a PE ratio of 28.70, a P/E/G ratio of 2.18 and a beta of 1.32.

IQVIA (NYSE:IQV) last released its earnings results on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.04. IQVIA had a net margin of 7.88% and a return on equity of 30.05%. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the previous year, the company earned $2.64 EPS. IQVIA’s revenue for the quarter was up 5.3% on a year-over-year basis. IQVIA has set its FY 2025 guidance at 11.750-12.050 EPS. As a group, equities analysts anticipate that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on IQV shares. Weiss Ratings restated a “hold (c)” rating on shares of IQVIA in a report on Wednesday, October 8th. Truist Financial raised their target price on shares of IQVIA from $209.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Evercore ISI raised their target price on shares of IQVIA from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday. Robert W. Baird lifted their price target on shares of IQVIA from $159.00 to $196.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Finally, Mizuho lifted their price target on shares of IQVIA from $190.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, IQVIA currently has an average rating of “Moderate Buy” and an average target price of $236.45.

Insiders Place Their Bets

In related news, insider Eric Sherbet sold 5,800 shares of IQVIA 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 transaction, the insider 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Keriann Cherofsky sold 549 shares of IQVIA 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 owned 2,910 shares in the company, valued at approximately $557,352.30. This trade represents a 15.87% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

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.