LGT Group Foundation Decreases Stock Holdings in IQVIA Holdings Inc. (NYSE:IQV)

LGT Group Foundation trimmed its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 90.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,390 shares of the medical research company’s stock after selling 22,025 shares during the quarter. LGT Group Foundation’s holdings in IQVIA were worth $421,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of IQV. American National Bank & Trust purchased a new stake in shares of IQVIA during the first quarter valued at approximately $26,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in IQVIA by 436.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 161 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 131 shares during the period. Golden State Wealth Management LLC grew its holdings in IQVIA by 295.5% during the first quarter. Golden State Wealth Management LLC now owns 174 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 130 shares during the period. AllSquare Wealth Management LLC bought a new position in IQVIA during the first quarter valued at $33,000. Finally, ST Germain D J Co. Inc. grew its holdings in IQVIA by 66.1% during the first quarter. ST Germain D J Co. Inc. now owns 191 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 76 shares during the period. 89.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on IQV shares. Redburn Partners set a $188.00 price objective on IQVIA in a report on Friday, May 23rd. William Blair reissued an “outperform” rating on shares of IQVIA in a report on Wednesday, July 23rd. Cowen reissued a “buy” rating on shares of IQVIA in a report on Wednesday, July 23rd. Mizuho increased their price objective on IQVIA from $190.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. cut their price target on IQVIA from $232.00 to $177.00 and set an “overweight” rating for the company in a report on Monday, May 19th. Seven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $228.62.

IQVIA Trading Up 2.2%

Shares of IQV stock opened at $190.08 on Thursday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.84 and a current ratio of 0.84. IQVIA Holdings Inc. has a 52-week low of $134.65 and a 52-week high of $252.88. The company has a market capitalization of $32.31 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 2.04 and a beta of 1.30. The business’s fifty day moving average is $168.77 and its 200 day moving average is $169.04.

IQVIA (NYSE:IQV) last released its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.04. IQVIA had a return on equity of 30.05% and a net margin of 7.88%. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter last year, the business posted $2.64 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts anticipate that IQVIA Holdings Inc. will post 10.84 EPS for the current fiscal year.

Insider Transactions at IQVIA

In other IQVIA news, insider Eric Sherbet sold 5,800 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $190.05, for a total transaction of $1,102,290.00. Following the sale, the insider owned 27,178 shares in the company, valued at $5,165,178.90. This trade represents a 17.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Keriann Cherofsky sold 549 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $191.53, for a total value of $105,149.97. Following the sale, the insider owned 2,910 shares in the company, valued at $557,352.30. The trade was a 15.87% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

About IQVIA

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.