The Vanguard Group, Inc. recently announced the acquisition of new stake in IQVIA Holdings Inc. (NYSE:IQV). The institutional investor has increased its shareholding in the Healthcare company by 0.97% to 20.67 million shares with purchase of 0.2 million shares. This fresh investment now brings its stake to 11.13% valued currently at $3.89 billion. In addition, Fidelity Management & Research Co raised its holdings by 1.04 million to 5.03 million shares. And Geode Capital Management LLC has lifted its position by 2.48% or 90188.0 shares – to 3.72 million shares.
With over 1.44 million IQVIA Holdings Inc. (IQV) shares trading Monday and a closing price of $201.77 on the day, the dollar volume was approximately $290.07 million. The shares have shown a negative half year performance of -4.56% and its price on 05/22/23 gained nearly 1.17%. Currently, there are 185.50M common shares owned by the public and among those 184.29M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 24 analysts who have offered their price forecasts for IQV have a consensus price objective of $243.56. The analysts have set the share’s price value over the next 12 months at a high of $285.00 and a low of $200.00. The average price target is 17.21% above its recent price level and a downside to the estimated low will see the stock lose -0.89% over that period. But an upside of 29.2% will see the stock hit the forecast high price target while median target price for the stock is $244.50.
Insiders at the company have transacted a total of 27 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 4 of these insider trades were purchases, accounting for 106,404 shares. Insider sales of the common stock occurred on 23 occasions, with total insider shares sold totaling 75,157 shares.
The top 3 mutual fund holders in IQVIA Holdings Inc. are Vanguard Total Stock Market ETF, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market ETF owns 5.75 million shares of the company’s stock, all valued at over $1.08 billion. The company bought an additional 28843.0 shares recently to bring their total holdings to about 3.09% of the shares outstanding. Vanguard Mid Cap Index Fund bought 3963.0 shares to see its total holdings expand to 4.34 million shares valued at over $816.54 million and representing 2.34% of the shares outstanding. Vanguard 500 Index Fund bought 20060.0 shares to bring its total holdings to over 4.34 million shares at a value of $816.06 million. Vanguard 500 Index Fund now owns shares totaling to 2.33% of the shares outstanding.
Shares of IQVIA Holdings Inc. (NYSE: IQV) opened at $199.51, up $0.07 from a prior closing price of $199.44. However, the script later moved the day high at 202.47, up 1.17%. The company’s stock has a 5-day price change of 5.38% and -5.26% over the past three months. IQV shares are trading -1.52% year to date (YTD), with the 12-month market performance up to 0.01% higher. It has a 12-month low price of $165.75 and touched a high of $249.11 over the same period. IQV has an average intraday trading volume of 1.16 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.06%, 3.99%, and -2.86% respectively.
Institutional ownership of IQVIA Holdings Inc. (NYSE: IQV) shares accounts for 91.10% of the company’s 185.50M shares outstanding. Mutual fund holders own 5.87%, while other institutional holders and individual stakeholders account for 50.71% and 40.24% respectively.
It has a market capitalization of $36.69B and a beta (3y monthly) value of 1.39. The stock’s trailing 12-month PE ratio is 36.22, while the earnings-per-share (ttm) stands at $5.57. The company has a PEG of 3.14 and a Quick Ratio of 0.90 with the debt-to-equity ratio at 2.21. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.09% over the week and 2.95% over the month.
Analysts forecast that IQVIA Holdings Inc. (IQV) will achieve an EPS of $2.37 for the current quarter, $2.61 for the next quarter and $11.96 for 2024. The lowest estimate earnings-per-share for the quarter is $2.3 while analysts give the company a high EPS estimate of $2.43. Comparatively, EPS for the current quarter was $2.44 a year ago. Earnings per share for the fiscal year are expected to increase by 15.50%, and 14.78% over the next financial year. EPS should shrink at an annualized rate of 11.55% over the next five years, compared to 32.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 24 brokerage firm advisors rate IQVIA Holdings Inc. (IQV) as a “Strong Buy” at a consensus score of 1.70. Specifically, 18 Wall Street analysts polled rate the stock as a buy, while 2 of the 24 advise that investors “hold,” and 0 rated it as a “Sell.”
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