Allstate Corp Sells 3,348 Shares of IQVIA Holdings Inc. $IQV

Key Points

• Allstate Corp has reduced its stake in IQVIA Holdings Inc. by 61.8%, selling 3,348 shares, and now holds 2,072 shares valued at approximately $365,000.
• Analysts are increasingly optimistic about IQVIA, with several brokerages raising their target prices; UBS and Mizuho increased their targets to $225.00.
• IQVIA recently reported better-than-expected earnings, with earnings per share of $2.81 and quarterly revenue of $4.02 billion, surpassing analyst estimates.

Allstate Corp cut its stake in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 61.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,072 shares of the medical research company's stock after selling 3,348 shares during the quarter. Allstate Corp's holdings in IQVIA were worth $365,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. American National Bank & Trust bought a new position in shares of IQVIA in the first quarter valued at about $26,000. Clal Insurance Enterprises Holdings Ltd raised its position in shares of IQVIA by 436.7% in 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 raised its position in shares of IQVIA by 295.5% in 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 shares of IQVIA in the first quarter valued at about $33,000. Finally, ST Germain D J Co. Inc. raised its position in shares of IQVIA by 66.1% in 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 institutional investors.

IQVIA Price Performance

IQV stock traded up $1.98 during mid-day trading on Friday, hitting $190.71. The stock had a trading volume of 1,088,094 shares, compared to its average volume of 1,287,677. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.45. IQVIA Holdings Inc. has a 52 week low of $134.65 and a 52 week high of $252.88. The firm has a market capitalization of $32.42 billion, a P/E ratio of 27.60, a P/E/G ratio of 2.07 and a beta of 1.30. The firm has a fifty day simple moving average of $177.04 and a 200 day simple moving average of $167.91.

IQVIA (NYSE:IQV - Get Free Report) last posted 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 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 period last year, the company posted $2.64 EPS. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. IQVIA has set its FY 2025 guidance at 11.750-12.050 EPS. As a group, research analysts forecast that IQVIA Holdings Inc. will post 10.84 EPS for the current year.

Insider Buying and Selling

In other news, insider Eric Sherbet sold 5,800 shares of the firm's stock in a transaction that occurred 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 sale, the insider directly owned 27,178 shares in the company, 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 accessible through this hyperlink. Also, insider Keriann Cherofsky sold 549 shares of IQVIA 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 sale, the insider owned 2,910 shares in the company, valued at approximately $557,352.30. This represents a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

IQV has been the topic of a number of recent research reports. Barclays raised their price target on shares of IQVIA from $165.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 23rd. Robert W. Baird raised their price target on shares of IQVIA from $159.00 to $196.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Evercore ISI raised their price target on shares of IQVIA from $170.00 to $180.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Cowen reaffirmed a "buy" rating on shares of IQVIA in a research report on Wednesday, July 23rd. Finally, Citigroup reaffirmed a "neutral" rating on shares of IQVIA in a research report on Thursday, May 22nd. Seventeen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, IQVIA currently has an average rating of "Moderate Buy" and an average target price of $228.62.

IQVIA Company 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.