Rakuten Investment Management Inc. Acquires 2,235 Shares of IQVIA Holdings Inc. $IQV

Rakuten Investment Management Inc. lifted its holdings in IQVIA Holdings Inc. (NYSE:IQV) by 8.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 29,694 shares of the medical research company’s stock after purchasing an additional 2,235 shares during the period. Rakuten Investment Management Inc.’s holdings in IQVIA were worth $7,987,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Provenance Wealth Advisors LLC raised its stake in IQVIA by 86,460.0% in the third quarter. Provenance Wealth Advisors LLC now owns 4,328 shares of the medical research company’s stock worth $1,164,000 after buying an additional 4,323 shares in the last quarter. Associated Banc Corp purchased a new stake in IQVIA during the third quarter worth $47,745,000. Factory Mutual Insurance Co. bought a new stake in IQVIA during the 3rd quarter valued at $2,589,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in IQVIA during the 3rd quarter valued at $12,510,000. Finally, Vise Technologies Inc. boosted its position in IQVIA by 17.2% during the 3rd quarter. Vise Technologies Inc. now owns 9,601 shares of the medical research company’s stock valued at $2,581,000 after acquiring an additional 1,411 shares in the last quarter. 89.62% of the stock is currently owned by institutional investors.

IQVIA Trading Up 0.5%

NYSE:IQV opened at $265.15 on Friday. The stock has a market capitalization of $43.70 billion, a price-to-earnings ratio of 32.22, a PEG ratio of 2.34 and a beta of 1.16. IQVIA Holdings Inc. has a 52 week low of $154.50 and a 52 week high of $284.50. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 2.18. The firm has a 50 day moving average of $266.37 and a 200 day moving average of $210.84.

IQVIA (NYSE:IQV) last released its quarterly earnings results on Tuesday, October 27th. The medical research company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.08. The business had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.37 billion. IQVIA had a net margin of 8.05% and a return on equity of 30.02%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.00 earnings per share. As a group, sell-side analysts anticipate that IQVIA Holdings Inc. will post 11.53 earnings per share for the current fiscal year.

Insider Activity at IQVIA

In other news, insider James G. Berkshire sold 2,668 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $261.33, for a total value of $697,228.44. Following the completion of the sale, the insider owned 10,890 shares of the company’s stock, valued at $2,845,883.70. This trade represents a 19.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

IQV has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price target on IQVIA from $276.00 to $303.00 and gave the company a “buy” rating in a report on Wednesday, October 14th. UBS Group started coverage on IQVIA in a research note on Wednesday, September 30th. They set a “buy” rating and a $345.00 price objective for the company. Jefferies Financial Group raised their price objective on IQVIA from $220.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Weiss Ratings lowered IQVIA from a “hold (c+)” rating to a “sell (d+)” rating in a research note on Wednesday, October 28th. Finally, Evercore lifted their target price on IQVIA from $275.00 to $290.00 and gave the company an “outperform” rating in a research note on Tuesday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, IQVIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $294.21.

IQVIA Profile

IQVIA Holdings Inc is a global provider of technology, analytics and contract research services for the life sciences industry. The company helps pharmaceutical, biotechnology and medical device organizations develop, commercialize and improve products by combining healthcare data with advanced analytics, consulting and technology-enabled services.

Its offerings include clinical research and trial management, real-world evidence, healthcare data and analytics, regulatory and safety services, technology platforms, and commercial solutions.