Bank of Nova Scotia Has $8.51 Million Stake in IQVIA Holdings Inc. $IQV

Bank of Nova Scotia increased its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 102.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 53,969 shares of the medical research company’s stock after buying an additional 27,285 shares during the quarter. Bank of Nova Scotia’s holdings in IQVIA were worth $8,505,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Jefferies Financial Group upgraded IQVIA from a “hold” rating to a “buy” rating and increased their price target for the company from $195.00 to $225.00 in a report on Tuesday, September 9th. Redburn Partners set a $214.00 target price on shares of IQVIA in a research note on Wednesday, September 3rd. Truist Financial reiterated a “buy” rating and issued a $265.00 target price (up previously from $235.00) on shares of IQVIA in a report on Wednesday, October 29th. Citigroup upped their price target on shares of IQVIA from $200.00 to $230.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Finally, Stifel Nicolaus lifted their price objective on IQVIA from $234.00 to $254.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.44.

Insider Buying and Selling at IQVIA

In other news, insider Eric Sherbet sold 4,000 shares of IQVIA stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $219.70, for a total transaction of $878,800.00. Following the sale, the insider owned 27,108 shares of the company’s stock, valued at approximately $5,955,627.60. This trade represents a 12.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

IQVIA Stock Performance

NYSE IQV opened at $223.28 on Thursday. The company’s fifty day moving average is $216.28 and its two-hundred day moving average is $188.48. The firm has a market capitalization of $38.02 billion, a price-to-earnings ratio of 30.63, a P/E/G ratio of 2.45 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. IQVIA Holdings Inc. has a 52-week low of $134.65 and a 52-week high of $234.29.

IQVIA (NYSE:IQV) last released its earnings results on Tuesday, October 28th. The medical research company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.02. IQVIA had a net margin of 8.07% and a return on equity of 30.70%. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.07 billion. During the same quarter last year, the company earned $2.84 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. IQVIA has set its FY 2025 guidance at 11.850-11.950 EPS. Equities 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.