Impax Asset Management Group plc Increases Stock Position in IQVIA Holdings Inc. (NYSE:IQV)

Impax Asset Management Group plc lifted its position in shares of IQVIA Holdings Inc. (NYSE:IQV) by 19.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,635,201 shares of the medical research company’s stock after buying an additional 264,555 shares during the period. IQVIA makes up 1.4% of Impax Asset Management Group plc’s holdings, making the stock its 19th largest holding. Impax Asset Management Group plc’s holdings in IQVIA were worth $344,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of IQV. Norges Bank purchased a new stake in shares of IQVIA during the 4th quarter worth approximately $383,705,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of IQVIA by 339.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,067,195 shares of the medical research company’s stock worth $478,308,000 after acquiring an additional 1,597,003 shares in the last quarter. Morningstar Investment Services LLC boosted its stake in shares of IQVIA by 96.9% during the 4th quarter. Morningstar Investment Services LLC now owns 1,231,916 shares of the medical research company’s stock worth $286,704,000 after acquiring an additional 606,333 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of IQVIA by 42.2% during the 4th quarter. Capital Research Global Investors now owns 1,995,269 shares of the medical research company’s stock worth $461,675,000 after acquiring an additional 592,372 shares in the last quarter. Finally, Cadian Capital Management LP purchased a new stake in shares of IQVIA during the 4th quarter worth approximately $70,108,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.

IQVIA Trading Up 0.1 %

Shares of NYSE IQV traded up $0.31 during trading on Friday, hitting $248.45. 37,665 shares of the company traded hands, compared to its average volume of 1,051,426. IQVIA Holdings Inc. has a 1 year low of $167.42 and a 1 year high of $261.73. The company has a 50-day moving average price of $234.28 and a 200-day moving average price of $234.60. The firm has a market capitalization of $45.27 billion, a P/E ratio of 33.89, a P/E/G ratio of 2.37 and a beta of 1.49. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.80.

IQVIA (NYSE:IQV) last announced its quarterly earnings data on Monday, July 22nd. The medical research company reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.07. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the previous year, the company earned $2.22 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts predict that IQVIA Holdings Inc. will post 10.24 EPS for the current year.

Insider Activity

In related news, insider Eric Sherbet sold 1,300 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total transaction of $320,229.00. Following the completion of the sale, the insider now directly owns 19,536 shares of the company’s stock, valued at approximately $4,812,302.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on IQV shares. Morgan Stanley lifted their price objective on IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Evercore ISI lifted their price objective on IQVIA from $230.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on IQVIA from $260.00 to $288.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. The Goldman Sachs Group started coverage on IQVIA in a research report on Thursday, June 6th. They set a “buy” rating and a $270.00 price objective for the company. Finally, StockNews.com upgraded IQVIA from a “hold” rating to a “buy” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $266.25.

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.