Platinum Investment Management Ltd. Makes New Investment in IQVIA Holdings Inc. $IQV

Platinum Investment Management Ltd. acquired a new position in IQVIA Holdings Inc. (NYSE:IQV) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 390,795 shares of the medical research company’s stock, valued at approximately $61,585,000. IQVIA accounts for 4.1% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 15th largest position. Platinum Investment Management Ltd. owned about 0.23% of IQVIA at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sowell Financial Services LLC acquired a new stake in IQVIA during the 1st quarter worth about $305,000. Mather Group LLC. boosted its holdings in shares of IQVIA by 83.5% during the first quarter. Mather Group LLC. now owns 769 shares of the medical research company’s stock worth $136,000 after purchasing an additional 350 shares during the period. Private Advisor Group LLC boosted its holdings in shares of IQVIA by 11.6% during the first quarter. Private Advisor Group LLC now owns 5,435 shares of the medical research company’s stock worth $958,000 after purchasing an additional 566 shares during the period. Patton Fund Management Inc. acquired a new stake in shares of IQVIA during the 2nd quarter valued at $231,000. Finally, Park Avenue Securities LLC boosted its stake in shares of IQVIA by 40.4% during the 1st quarter. Park Avenue Securities LLC now owns 5,425 shares of the medical research company’s stock valued at $956,000 after buying an additional 1,562 shares during the period. Institutional investors and hedge funds own 89.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IQV shares. William Blair reissued an “outperform” rating on shares of IQVIA in a research note on Wednesday, July 23rd. Cowen reissued a “buy” rating on shares of IQVIA in a research report on Wednesday, July 23rd. Jefferies Financial Group upgraded IQVIA from a “hold” rating to a “buy” rating and lifted their price target for the company from $195.00 to $225.00 in a report on Tuesday, September 9th. Robert W. Baird lifted their price target on IQVIA from $159.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Finally, Evercore ISI lifted their target price on shares of IQVIA from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. Eighteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, IQVIA presently has an average rating of “Moderate Buy” and a consensus price target of $229.64.

Insiders Place Their Bets

In related news, insider Keriann Cherofsky sold 549 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $191.53, for a total transaction of $105,149.97. Following the completion of the transaction, the insider owned 2,910 shares of the company’s stock, valued at approximately $557,352.30. The trade was a 15.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Sherbet sold 5,800 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $190.05, for a total value of $1,102,290.00. Following the transaction, the insider directly owned 27,178 shares of the company’s stock, valued at $5,165,178.90. This represents a 17.59% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

IQVIA Stock Up 7.4%

IQV opened at $203.94 on Thursday. The business has a 50 day moving average price of $187.68 and a 200 day moving average price of $167.43. IQVIA Holdings Inc. has a twelve month low of $134.65 and a twelve month high of $237.34. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $34.67 billion, a P/E ratio of 29.51, a price-to-earnings-growth ratio of 2.08 and a beta of 1.32.

IQVIA (NYSE:IQV) last issued its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.04. IQVIA had a net margin of 7.88% and a return on equity of 30.05%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the previous year, the company earned $2.64 earnings per share. IQVIA’s revenue for the quarter was up 5.3% on a year-over-year basis. IQVIA has set its FY 2025 guidance at 11.750-12.050 EPS. Research analysts forecast that IQVIA Holdings Inc. will post 10.84 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.