On September 26, 2023, it was reported that Patriot Financial Group Insurance Agency LLC has reduced its position in IQVIA Holdings Inc. by 12.0% during the second quarter. IQVIA is a leading medical research company listed on the New York Stock Exchange under the ticker symbol IQV.
According to the company’s filing with the Securities and Exchange Commission (SEC), Patriot Financial Group Insurance Agency LLC had owned 3,716 shares of IQVIA’s stock but sold 507 shares during the period. As of the most recent filing, the value of Patriot Financial Group Insurance Agency LLC’s holdings in IQVIA amounted to $835,000.
This development comes after IQVIA released its quarterly earnings results on August 1st. The medical research company reported earnings per share (EPS) of $2.22 for the quarter, surpassing analysts’ consensus estimate of $2.09 by $0.13. Furthermore, IQVIA generated revenue of $3.73 billion in comparison to analyst estimates of $3.70 billion for the same period.
IQVIA also exhibited a strong return on equity (ROE) of 30.14% and a net margin of 7.47%. These positive financial indicators demonstrate the company’s ability to generate profits and efficiently manage its operations.
Looking ahead, industry experts anticipate that IQVIA will post an EPS of 9.24 for the current year.
In other news related to IQVIA, Constantinos Panagos, an insider within the company, recently sold 27,317 shares of IQVIA’s stock in a transaction that took place on September 19th. The shares were sold at an average price of $208.67 per share, resulting in a total transaction value of approximately $5,700,238.39.
Following this transaction, Panagos now holds 14,250 shares in IQVIA, which are valued at $2,973,547.50 based on the current market price. This sale was disclosed in a document filed with the Securities & Exchange Commission and can be accessed through the provided link.
It is worth noting that company insiders currently own 1.50% of IQVIA’s stock, indicating their confidence in the company’s prospects.
Overall, these recent developments in IQVIA highlight its strong financial performance and attract investor attention. As a major player in the medical research industry, IQVIA continues to demonstrate its capacity for growth and profitability.
IQVIA Holdings Inc.
Updated on: 07/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
We did not find social sentiment data for this stock
|Analyst / firm||Rating|
Elizabeth Anderson CFA
Derik De Bruin
Bank of America Securities
Institutional Investor Activity and Analyst Ratings: A Look into IQVIA Holdings Inc. on September 26, 2023
September 26, 2023
IQVIA Holdings Inc.: A Closer Look at Institutional Investor Activity and Analyst Ratings
Investing in the stock market requires a vast amount of research and analysis. For this reason, institutional investors play a significant role in shaping the direction of company stakes. Additionally, equities analysts provide invaluable insights into the performance of specific stocks. In this article, we will delve into the recent activities of institutional investors and the assessment of analysts regarding IQVIA Holdings Inc.
Mitsubishi UFJ Trust & Banking Corp made headlines in the 1st quarter by boosting its stake in shares of IQVIA by 0.7%. The well-established banking corporation now owns 112,697 shares of IQVIA’s stock, representing a value of $22,414,000. This increase occurred after Mitsubishi UFJ Trust & Banking Corp purchased an additional 810 shares during the last quarter. Similarly, Mn Services Vermogensbeheer B.V., another institutional investor, raised its holdings in IQVIA by 3.2% during the same period. With a current ownership stake of 94,100 shares valued at $18,716,000, Mn Services Vermogensbeheer B.V.’s presence in IQVIA has become more impactful.
Amidst these developments, two other key institutional investors entered the scene as well. Element Capital Management LLC strategically acquired a new position in IQVIA during the first quarter with an investment value totaling $4,824,000. On the other hand, Buckley Wealth Management LLC made its own entrance during the second quarter with an investment worth $220,000.
Furthermore, Gradient Investments LLC significantly boosted its holdings in IQVIA by 23.9% during Q1. As per their latest filing with regulatory authorities, Gradient Investments now possesses around 57,926 shares of IQVIA’s stock valued at $11,521,000. These activities demonstrate the significant positions that institutional investors have taken up in IQVIA.
It is also worth noting that hedge funds have shown an immense interest in IQVIA. Currently, these financial institutions and other institutional investors own approximately 86.82% of the stock. This figure speaks volumes about the confidence these investors have in the potential of IQVIA to deliver returns.
Turning our attention to analyst ratings, it is clear that a considerable number of equities analysts view IQVIA favorably. HSBC, for instance, recently initiated coverage on the company and assigned it a “buy” rating along with a target price of $260.00. Stifel Nicolaus raised its price target from $255.00 to $281.00 and likewise gave IQVIA a “buy” rating in their report released on August 2nd.
Citigroup analysts also reviewed IQVIA’s performance and increased their price target from $200.00 to $225.00 while maintaining a “neutral” rating on the stock. Truist Financial expressed optimism by raising its price target to $260.00 and assigning a “buy” rating on July 18th.
In summary, there is consensus among analysts that IQVIA presents an investment opportunity worth considering. Bloomberg.com reports that the company currently holds a consensus rating of “Moderate Buy,” reflecting positive sentiment from Wall Street professionals. The average price target for IQVIA stands at $252.00 according to available data.
Investors seeking insights into potential opportunities within the stock market should carefully consider this information regarding IQVIA Holdings Inc.’s institutional investor activities and analyst ratings as they make well-informed decisions moving forward.
1) Bloomberg.com: https://www.bloomberg.com/