Eric Sherbet Sells 5,800 Shares of IQVIA Holdings Inc. (NYSE:IQV) Stock

Key Points

• Eric Sherbet, an insider at IQVIA Holdings Inc., sold 5,800 shares for a total of $1,102,290, decreasing his position by 17.59% to 27,178 shares.
• IQVIA reported a Q2 net margin of 7.88% and a revenue of $4.02 billion, surpassing analyst expectations.
• Analysts have mixed ratings for IQVIA, with 17 buy ratings and a new average price target of $228.62, despite some downgrades from firms like HSBC.

IQVIA Holdings Inc. (NYSE:IQV - Get Free Report) insider Eric Sherbet sold 5,800 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $190.05, for a total value of $1,102,290.00. Following the completion of the sale, the insider directly owned 27,178 shares of the company's stock, valued at approximately $5,165,178.90. This trade represents a 17.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

IQVIA Stock Performance

Shares of NYSE:IQV traded down $1.65 on Friday, hitting $199.17. 2,138,911 shares of the company were exchanged, compared to its average volume of 2,283,775. The company's 50 day moving average price is $155.96 and its two-hundred day moving average price is $170.53. IQVIA Holdings Inc. has a one year low of $134.65 and a one year high of $252.88. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.82 and a current ratio of 0.84. The firm has a market capitalization of $33.86 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 2.21 and a beta of 1.30.

IQVIA (NYSE:IQV - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.04. IQVIA had a net margin of 7.88% and a return on equity of 30.05%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the firm posted $2.64 EPS. The business's revenue was up 5.3% compared to the same quarter last year. Research analysts expect that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on IQV shares. Citigroup reaffirmed a "neutral" rating on shares of IQVIA in a research note on Thursday, May 22nd. HSBC lowered IQVIA from a "buy" rating to a "hold" rating and decreased their price target for the stock from $260.00 to $160.00 in a research note on Friday, April 25th. JPMorgan Chase & Co. reduced their price objective on IQVIA from $232.00 to $177.00 and set an "overweight" rating for the company in a report on Monday, May 19th. William Blair reissued an "outperform" rating on shares of IQVIA in a report on Wednesday. Finally, Hsbc Global Res downgraded IQVIA from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $228.62.

Hedge Funds Weigh In On IQVIA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. NorthRock Partners LLC acquired a new position in shares of IQVIA during the second quarter worth approximately $626,000. Verdence Capital Advisors LLC acquired a new position in IQVIA during the 2nd quarter worth $3,612,000. Concord Wealth Partners boosted its position in IQVIA by 60.1% in the 2nd quarter. Concord Wealth Partners now owns 373 shares of the medical research company's stock valued at $59,000 after buying an additional 140 shares during the last quarter. MGO One Seven LLC increased its stake in shares of IQVIA by 14.9% in the 2nd quarter. MGO One Seven LLC now owns 3,412 shares of the medical research company's stock valued at $538,000 after buying an additional 443 shares during the period. Finally, LRI Investments LLC lifted its stake in shares of IQVIA by 1.5% during the second quarter. LRI Investments LLC now owns 24,071 shares of the medical research company's stock valued at $3,793,000 after acquiring an additional 361 shares during the period. 89.62% of the stock is currently owned by institutional investors and hedge funds.

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.

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