Magnolia Capital Advisors LLC purchased a new position in shares of IQVIA Holdings Inc. (NYSE:IQV – Free Report) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 3,567 shares of the medical research company’s stock, valued at approximately $689,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Freedom LLC bought a new position in shares of IQVIA during the 1st quarter worth approximately $25,000. Ascentis Independent Advisors bought a new position in shares of IQVIA in the first quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of IQVIA during the fourth quarter valued at approximately $27,000. Compass Financial Management LLC purchased a new stake in shares of IQVIA during the second quarter valued at approximately $27,000. Finally, Gilpin Wealth Management LLC bought a new stake in IQVIA during the fourth quarter worth $27,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.
IQVIA Stock Up 0.8%
IQV stock opened at $261.57 on Thursday. The stock has a fifty day moving average of $218.41 and a 200-day moving average of $188.59. IQVIA Holdings Inc. has a fifty-two week low of $154.50 and a fifty-two week high of $262.51. The company has a market capitalization of $43.05 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 2.22 and a beta of 1.18. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.71 and a current ratio of 0.71.
IQVIA announced that its board has initiated a share repurchase plan on Thursday, May 7th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to repurchase up to 6.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Insider Buying and Selling at IQVIA
In related news, insider W Richard Staub sold 5,500 shares of IQVIA stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $232.68, for a total value of $1,279,740.00. Following the completion of the transaction, the insider directly owned 13,312 shares in the company, valued at approximately $3,097,436.16. The trade was a 29.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Keriann Cherofsky sold 558 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $245.21, for a total transaction of $136,827.18. Following the sale, the insider directly owned 2,989 shares in the company, valued at $732,932.69. The trade was a 15.73% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 12,913 shares of company stock worth $3,098,793. 1.70% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
IQV has been the subject of a number of recent analyst reports. Wall Street Zen upgraded IQVIA from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Mizuho lifted their target price on IQVIA from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. William Blair upgraded shares of IQVIA to a “strong-buy” rating in a report on Tuesday, July 28th. TD Cowen boosted their target price on shares of IQVIA from $233.00 to $288.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Robert W. Baird raised their price target on shares of IQVIA from $252.00 to $287.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $241.88.
IQVIA Company Profile
IQVIA (NYSE: IQV) is a global provider of advanced analytics, technology solutions and contract research services to the life sciences industry. The company combines clinical research capabilities with large-scale health data and analytics to support drug development, regulatory reporting, commercial strategy and real‑world evidence generation. IQVIA traces its current form to the combination of Quintiles and IMS Health announced in 2016 and subsequently rebranded as IQVIA, bringing together long-established clinical research operations and extensive healthcare information assets.
IQVIA’s principal activities include outsourced clinical development services (acting as a contract research organization for phases I–IV), real‑world evidence and observational research, regulatory and safety services, and a suite of technology platforms that enable data integration, analytics and operational management.
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