Addenda Capital Inc. Raises Stock Position in IQVIA Holdings Inc. $IQV

Addenda Capital Inc. grew its stake in IQVIA Holdings Inc. (NYSE:IQV) by 24.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,117 shares of the medical research company’s stock after buying an additional 11,885 shares during the period. Addenda Capital Inc.’s holdings in IQVIA were worth $11,609,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IQV. Verdence Capital Advisors LLC acquired a new stake in shares of IQVIA in the second quarter valued at approximately $3,612,000. Amundi raised its position in IQVIA by 46.3% in the 2nd quarter. Amundi now owns 1,279,817 shares of the medical research company’s stock valued at $210,722,000 after purchasing an additional 405,250 shares during the last quarter. Act Two Investors LLC acquired a new stake in IQVIA during the 2nd quarter worth $26,528,000. Shell Asset Management Co. increased its stake in IQVIA by 78.7% in the second quarter. Shell Asset Management Co. now owns 9,256 shares of the medical research company’s stock valued at $1,459,000 after purchasing an additional 4,077 shares during the period. Finally, Patton Fund Management Inc. purchased a new stake in shares of IQVIA in the second quarter valued at about $231,000. 89.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. HSBC upgraded IQVIA from a “hold” rating to a “buy” rating and boosted their price target for the company from $195.00 to $235.00 in a research report on Thursday, October 9th. Redburn Partners set a $214.00 price target on IQVIA in a research note on Wednesday, September 3rd. Evercore ISI increased their price target on IQVIA from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Wall Street Zen cut shares of IQVIA from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Finally, Barclays set a $230.00 target price on shares of IQVIA in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $243.59.

Insider Activity at IQVIA

In related news, insider Eric Sherbet sold 4,000 shares of the stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $219.70, for a total value of $878,800.00. Following the sale, the insider directly owned 27,108 shares of the company’s stock, valued at approximately $5,955,627.60. This represents a 12.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by corporate insiders.

IQVIA Price Performance

Shares of NYSE:IQV opened at $222.43 on Friday. The firm has a market capitalization of $37.88 billion, a price-to-earnings ratio of 30.51, a price-to-earnings-growth ratio of 2.48 and a beta of 1.37. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.70 and a quick ratio of 0.70. The business’s 50 day simple moving average is $218.61 and its 200-day simple moving average is $191.61. IQVIA Holdings Inc. has a 12 month low of $134.65 and a 12 month high of $234.29.

IQVIA (NYSE:IQV) last issued its quarterly earnings data on Tuesday, October 28th. The medical research company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.02. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.07 billion. IQVIA had a return on equity of 30.70% and a net margin of 8.07%.IQVIA’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.84 earnings per share. IQVIA has set its FY 2025 guidance at 11.850-11.950 EPS. As a group, equities analysts forecast that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal 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.