Hsbc Holdings PLC Grows Stake in IQVIA Holdings Inc. (NYSE:IQV)

Hsbc Holdings PLC boosted its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 18.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 469,752 shares of the medical research company’s stock after purchasing an additional 73,877 shares during the quarter. Hsbc Holdings PLC owned about 0.26% of IQVIA worth $99,504,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on IQV. Royal Bank of Canada started coverage on IQVIA in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $275.00 target price on the stock. Jefferies Financial Group cut IQVIA from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $266.00 to $242.00 in a report on Wednesday, July 24th. Robert W. Baird raised their target price on shares of IQVIA from $235.00 to $251.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. upped their price target on shares of IQVIA from $260.00 to $288.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Barclays lifted their price objective on shares of IQVIA from $255.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.67.

Insider Transactions at IQVIA

In other news, insider Eric Sherbet sold 1,300 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total value of $320,229.00. Following the transaction, the insider now directly owns 19,536 shares in the company, valued at $4,812,302.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

IQVIA Stock Performance

Shares of NYSE:IQV opened at $242.67 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $44.21 billion, a price-to-earnings ratio of 33.15, a PEG ratio of 2.24 and a beta of 1.49. IQVIA Holdings Inc. has a 12 month low of $167.42 and a 12 month high of $261.73. The firm’s 50-day moving average is $239.74 and its 200 day moving average is $234.18.

IQVIA (NYSE:IQV) last issued its quarterly earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.07. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the prior year, the business posted $2.22 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Research analysts predict 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.