Meiji Yasuda Asset Management Co Ltd. Buys 264 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,112 shares of the medical research company’s stock after buying an additional 264 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in IQVIA were worth $1,927,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV raised its holdings in IQVIA by 21.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 13,043 shares of the medical research company’s stock worth $2,746,000 after acquiring an additional 2,277 shares during the last quarter. Argent Trust Co raised its stake in shares of IQVIA by 7.3% in the second quarter. Argent Trust Co now owns 19,490 shares of the medical research company’s stock worth $4,121,000 after purchasing an additional 1,327 shares during the last quarter. Clearstead Trust LLC increased its position in shares of IQVIA by 25.0% during the 2nd quarter. Clearstead Trust LLC now owns 360 shares of the medical research company’s stock valued at $76,000 after purchasing an additional 72 shares during the last quarter. Virtu Financial LLC lifted its stake in shares of IQVIA by 302.1% in the 2nd quarter. Virtu Financial LLC now owns 15,574 shares of the medical research company’s stock worth $3,293,000 after purchasing an additional 11,701 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in IQVIA during the second quarter valued at approximately $5,038,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.

IQVIA Price Performance

IQVIA stock opened at $244.62 on Friday. IQVIA Holdings Inc. has a 52-week low of $167.42 and a 52-week high of $261.73. The company has a market cap of $44.57 billion, a price-to-earnings ratio of 33.42, a PEG ratio of 2.24 and a beta of 1.49. The firm’s fifty day moving average is $240.24 and its 200 day moving average is $234.25. 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 results on Monday, July 22nd. The medical research company reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.07. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter last year, the firm earned $2.22 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts forecast that IQVIA Holdings Inc. will post 10.25 EPS for the current fiscal year.

Insider Activity

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

Analysts Set New Price Targets

IQV has been the topic of several analyst reports. Evercore ISI lifted their price target on shares of IQVIA from $230.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. UBS Group boosted their price target on IQVIA from $295.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Argus raised IQVIA to a “strong-buy” rating in a research note on Wednesday, July 31st. Morgan Stanley boosted their price objective on IQVIA from $270.00 to $280.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Finally, Robert W. Baird raised their target price on shares of IQVIA from $235.00 to $251.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IQVIA presently has a consensus rating of “Moderate Buy” and an average target price of $266.67.

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.