South Dakota Investment Council Acquires New Holdings in IQVIA Holdings Inc.

The South Dakota Investment Council made a significant move during the fourth quarter by acquiring a new position in IQVIA Holdings Inc. (NYSE:IQV). According to a recent filing with the Securities and Exchange Commission (SEC), the council purchased 12,529 shares of this medical research company, which is valued at approximately $2,462,000.

Several other institutional investors and hedge funds have recently adjusted their positions concerning IQVIA. For instance, Capital Performance Advisors LLP entered into a new stake in IQVIA during the third quarter, amounting to about $27,000. In a noteworthy increase, Avior Wealth Management LLC raised its stake in IQVIA by 117.6% during the same quarter, ultimately owning 161 shares of the medical research company worth $38,000 after adding another 87 shares. Synergy Asset Management LLC also acquired a new stake in IQVIA, estimated at about $33,000 during the fourth quarter. Additionally, Assetmark Inc. expanded its stake in IQVIA by an impressive 612.5% during the third quarter, bringing its total holdings to 228 shares worth $54,000 after an additional purchase of 196 shares. Last but not least, Concord Wealth Partners purchased a new stake in IQVIA in the third quarter valued at roughly $57,000. Currently, hedge funds and other institutional investors collectively hold 89.62% of the stock.

Insider Transactions

In other news, Director John G. Danhakl made a personal investment by acquiring 1,275 shares of IQVIA on Tuesday, December 3. The shares were purchased at an average price of $200.58 each, totaling approximately $255,739.50. Following this acquisition, the director's total ownership in the company increased markedly. This transaction has been reported in a filing with the SEC, which can be viewed for more information. Corporate insiders now hold about 1.60% of IQVIA's stock.

Stock Performance Overview

As of Monday, IQV stock opened at $190.94. The company boasts a market capitalization of $33.62 billion, with a price-to-earnings (P/E) ratio of 25.46, a PEG ratio of 1.99, and a beta of 1.48. The stock has experienced a low of $187.62 and a high of $261.73 in the past twelve months. The business sits at a 50-day simple moving average of $199.57 and a 200-day simple moving average of $216.25. Furthermore, IQVIA shows a current ratio and quick ratio of 0.84, while its debt-to-equity ratio stands at 2.12.

IQVIA Holdings Inc. reported its quarterly earnings on Thursday, February 6. The company announced earnings per share of $2.90 for the quarter, which fell short of consensus estimates of $3.11 by $0.21. Notably, IQVIA recorded a net margin of 8.91% and a return on equity of 28.81%. Analysts expect IQVIA Holdings Inc. to achieve an EPS of 10.84 for the current year.

Analyst Forecasts

A number of market analysts have released their insights on IQV shares. StockNews.com downgraded its rating on IQVIA from "buy" to "hold" in a research note dated Thursday, November 28. Similarly, BTIG Research also lowered its rating from "buy" to "neutral" as of February 3. Conversely, Morgan Stanley raised its target price for IQVIA shares from $245.00 to $250.00 while maintaining an "overweight" rating as of February 11. William Blair is positive on IQVIA, reaffirming an "outperform" rating on December 11. On the other hand, Barclays reduced its target price for IQVIA from $255.00 to $235.00, classifying the stock as "overweight" in a recent analysis. Overall, there are four analysts rating the stock as a hold, while seventeen provide a buy rating, and one has issued a strong buy. According to data from MarketBeat.com, the consensus rating is classified as "Moderate Buy" with an average price target of $251.22.

About IQVIA

IQVIA Holdings Inc. is focused on delivering advanced analytics, technology solutions, and clinical research services to the life sciences industry across the Americas, Europe, Africa, and the Asia-Pacific regions. The company operates through three main segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions.

Investment, Stocks, Acquisition