Magnolia Capital Advisors LLC Buys 223 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Magnolia Capital Advisors LLC grew its stake in IQVIA Holdings Inc. (NYSE:IQV) by 7.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,041 shares of the medical research company’s stock after purchasing an additional 223 shares during the quarter. Magnolia Capital Advisors LLC’s holdings in IQVIA were worth $643,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Canada Pension Plan Investment Board raised its position in shares of IQVIA by 6.6% in the second quarter. Canada Pension Plan Investment Board now owns 3,403,488 shares of the medical research company’s stock valued at $719,634,000 after purchasing an additional 211,653 shares during the period. Lazard Asset Management LLC increased its position in IQVIA by 0.9% during the first quarter. Lazard Asset Management LLC now owns 3,263,944 shares of the medical research company’s stock worth $825,416,000 after acquiring an additional 30,014 shares during the period. Farallon Capital Management LLC increased its position in IQVIA by 3.1% during the second quarter. Farallon Capital Management LLC now owns 2,923,032 shares of the medical research company’s stock worth $618,046,000 after acquiring an additional 86,870 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in IQVIA by 3.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,510,685 shares of the medical research company’s stock worth $634,927,000 after acquiring an additional 92,293 shares during the period. Finally, Capital Research Global Investors increased its position in IQVIA by 7.2% during the first quarter. Capital Research Global Investors now owns 2,138,802 shares of the medical research company’s stock worth $540,882,000 after acquiring an additional 143,533 shares during the period. 89.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Truist Financial raised their price target on shares of IQVIA from $292.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. UBS Group raised their target price on shares of IQVIA from $295.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Argus raised shares of IQVIA to a “strong-buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada assumed coverage on shares of IQVIA in a research report on Wednesday, September 4th. They set an “outperform” rating and a $275.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on IQVIA from $260.00 to $288.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, IQVIA presently has a consensus rating of “Moderate Buy” and an average price target of $267.00.

IQVIA Stock Up 0.9 %

Shares of IQV opened at $236.97 on Tuesday. IQVIA Holdings Inc. has a 52 week low of $167.42 and a 52 week high of $261.73. The stock has a market capitalization of $43.20 billion, a price-to-earnings ratio of 32.37, a PEG ratio of 2.25 and a beta of 1.49. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a fifty day moving average of $241.32 and a 200-day moving average of $233.07.

IQVIA (NYSE:IQV) last announced its quarterly earnings results on Monday, July 22nd. The medical research company reported $2.64 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 during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the prior year, the company earned $2.22 EPS. IQVIA’s revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that IQVIA Holdings Inc. will post 10.25 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Eric Sherbet sold 1,300 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total transaction of $320,229.00. Following the completion of 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 filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by corporate insiders.

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.