Canada Pension Plan Investment Board Buys 211,653 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Canada Pension Plan Investment Board raised its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 6.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,403,488 shares of the medical research company’s stock after buying an additional 211,653 shares during the quarter. Canada Pension Plan Investment Board owned about 1.87% of IQVIA worth $719,634,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of IQV. Rise Advisors LLC purchased a new stake in IQVIA in the 1st quarter worth approximately $31,000. Versant Capital Management Inc raised its position in shares of IQVIA by 733.3% in the second quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock worth $26,000 after buying an additional 110 shares in the last quarter. Riverview Trust Co bought a new stake in IQVIA during the first quarter valued at $32,000. Opal Wealth Advisors LLC purchased a new position in IQVIA during the second quarter worth about $27,000. Finally, International Assets Investment Management LLC bought a new position in IQVIA in the 2nd quarter worth about $32,000. 89.62% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the business’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 transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

IQV has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Barclays raised their price objective on shares of IQVIA from $255.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded shares of IQVIA from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Royal Bank of Canada began coverage on IQVIA in a research note on Wednesday, September 4th. They set an “outperform” rating and a $275.00 price target for the company. Finally, Jefferies Financial Group lowered IQVIA from a “buy” rating to a “hold” rating and reduced their price objective for the company from $266.00 to $242.00 in a research report on Wednesday, July 24th. Four research 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $266.67.

IQVIA Price Performance

Shares of IQVIA stock opened at $244.62 on Friday. The company’s fifty day simple moving average is $240.24 and its two-hundred day simple moving average is $234.25. IQVIA Holdings Inc. has a 12-month low of $167.42 and a 12-month high of $261.73. The firm has a market cap of $44.57 billion, a PE ratio of 33.42, a price-to-earnings-growth ratio of 2.24 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 results on Monday, July 22nd. The medical research company reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.07. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the business earned $2.22 EPS. IQVIA’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts expect that IQVIA Holdings Inc. will post 10.25 EPS for the current year.

IQVIA 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.