Wedbush Securities Inc. Takes $256,000 Position in IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• Wedbush Securities Inc. acquired 1,452 shares of IQVIA Holdings Inc., valued at approximately $256,000, indicating a growing institutional interest in the company.
• During the fourth quarter, several large investors, including Norges Bank and Invesco Ltd., significantly increased their stakes in IQVIA, with institutional investors now owning 89.62% of the company's stock.
• IQVIA reported earnings of $2.81 per share, beating estimates, and exhibited a 5.3% increase in revenue year-over-year, showcasing strong performance in the medical research sector.

Wedbush Securities Inc. acquired a new stake in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,452 shares of the medical research company's stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. American National Bank & Trust acquired a new position in IQVIA during the first quarter worth $26,000. Golden State Wealth Management LLC lifted its position in shares of IQVIA by 295.5% during the first quarter. Golden State Wealth Management LLC now owns 174 shares of the medical research company's stock worth $31,000 after purchasing an additional 130 shares in the last quarter. AllSquare Wealth Management LLC acquired a new stake in shares of IQVIA during the first quarter worth about $33,000. ST Germain D J Co. Inc. lifted its position in shares of 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 worth $34,000 after purchasing an additional 76 shares in the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of IQVIA during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 89.62% of the company's stock.

IQVIA Price Performance

IQVIA stock traded down $2.28 during mid-day trading on Thursday, reaching $189.26. 484,749 shares of the company were exchanged, compared to its average volume of 2,027,438. The company has a fifty day simple moving average of $160.25 and a 200-day simple moving average of $170.31. IQVIA Holdings Inc. has a 12 month low of $134.65 and a 12 month high of $252.88. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $32.17 billion, a PE ratio of 27.37, a PEG ratio of 2.13 and a beta of 1.30.

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

Analysts Set New Price Targets

Several analysts recently weighed in on IQV shares. Redburn Partners set a $188.00 target price on shares of IQVIA in a report on Friday, May 23rd. Citigroup reiterated a "neutral" rating on shares of IQVIA in a research report on Thursday, May 22nd. Robert W. Baird upped their price target on shares of IQVIA from $159.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Cowen reaffirmed a "buy" rating on shares of IQVIA in a research note on Wednesday, July 23rd. Finally, William Blair reiterated an "outperform" rating on shares of IQVIA in a research report on Wednesday, July 23rd. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, IQVIA presently has a consensus rating of "Moderate Buy" and a consensus target price of $228.62.

Insider Buying and Selling at IQVIA

In other news, insider Keriann Cherofsky sold 549 shares of IQVIA stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $191.53, for a total value of $105,149.97. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eric Sherbet sold 5,800 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were 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 of the company's stock, valued at $5,165,178.90. This trade represents a 17.59% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

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.