AE Wealth Management LLC Purchases 2,211 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• AE Wealth Management LLC increased its holdings in IQVIA Holdings Inc. by 79.0%, purchasing an additional 2,211 shares, which brings their total ownership to 5,009 shares valued at approximately $883,000.
• Several institutional investors, including Sowell Financial Services LLC and Mather Group LLC, have also expanded their stakes in IQVIA, while hedge funds collectively hold 89.62% of the company's stock.
• IQVIA reported a quarterly EPS of $2.81, exceeding analysts' estimates, with revenue reaching $4.02 billion, marking a 5.3% increase year-over-year.

AE Wealth Management LLC boosted its position in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 79.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,009 shares of the medical research company's stock after purchasing an additional 2,211 shares during the period. AE Wealth Management LLC's holdings in IQVIA were worth $883,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sowell Financial Services LLC purchased a new stake in IQVIA during the first quarter worth about $305,000. Mather Group LLC. increased its stake in shares of IQVIA by 83.5% during the 1st quarter. Mather Group LLC. now owns 769 shares of the medical research company's stock worth $136,000 after purchasing an additional 350 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of IQVIA by 40.4% in the 1st quarter. Park Avenue Securities LLC now owns 5,425 shares of the medical research company's stock worth $956,000 after purchasing an additional 1,562 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in IQVIA by 34.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,259 shares of the medical research company's stock valued at $2,338,000 after purchasing an additional 3,398 shares during the last quarter. Finally, Blair William & Co. IL increased its position in IQVIA by 42.0% in the fourth quarter. Blair William & Co. IL now owns 5,742 shares of the medical research company's stock worth $1,128,000 after buying an additional 1,699 shares during the last quarter. Hedge funds and other institutional investors own 89.62% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. UBS Group increased their target price on shares of IQVIA from $185.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Hsbc Global Res lowered shares of IQVIA from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Citigroup reissued a "neutral" rating on shares of IQVIA in a report on Thursday, May 22nd. William Blair reaffirmed an "outperform" rating on shares of IQVIA in a report on Wednesday, July 23rd. Finally, Evercore ISI lifted their price target on IQVIA from $170.00 to $180.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Seven research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $228.62.

Insider Activity

In other IQVIA news, insider Eric Sherbet sold 5,800 shares of the stock in a transaction that occurred 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 transaction, the insider directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Keriann Cherofsky sold 549 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $191.53, for a total transaction of $105,149.97. Following the completion of the sale, the insider owned 2,910 shares of the company's stock, valued at approximately $557,352.30. The trade was a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

IQVIA Trading Down 0.7%

Shares of IQVIA stock opened at $197.73 on Tuesday. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.84 and a quick ratio of 0.84. IQVIA Holdings Inc. has a 1 year low of $134.65 and a 1 year high of $252.88. The firm has a market cap of $33.61 billion, a PE ratio of 28.62, a PEG ratio of 2.18 and a beta of 1.30. The company has a 50 day simple moving average of $158.18 and a two-hundred day simple moving average of $169.99.

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 analysts' consensus estimates of $2.77 by $0.04. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.96 billion. IQVIA had a net margin of 7.88% and a return on equity of 30.05%. The firm's revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.64 EPS. Analysts expect that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.