Assetmark Inc. Raises Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• Assetmark Inc. increased its stock position in IQVIA Holdings Inc. by 4.3%, bringing its total shares owned to 51,453, valued at approximately $9.07 million.
• IQVIA reported earnings of $2.81 EPS for the most recent quarter, exceeding analyst expectations, with revenues of $4.02 billion, a 5.3% increase year-over-year.
• Analysts have given IQVIA a consensus rating of "Moderate Buy" with an average target price of $228.62, indicating strong upward potential for the stock.

Assetmark Inc. raised its position in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 4.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 51,453 shares of the medical research company's stock after purchasing an additional 2,120 shares during the quarter. Assetmark Inc.'s holdings in IQVIA were worth $9,071,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Continuum Advisory LLC lifted its stake in IQVIA by 3.7% during the 4th quarter. Continuum Advisory LLC now owns 1,803 shares of the medical research company's stock valued at $354,000 after acquiring an additional 64 shares in the last quarter. Ballentine Partners LLC boosted its holdings in shares of IQVIA by 4.9% in the 1st quarter. Ballentine Partners LLC now owns 1,477 shares of the medical research company's stock worth $260,000 after buying an additional 69 shares during the last quarter. ST Germain D J Co. Inc. boosted its holdings in shares of IQVIA by 66.1% in the 1st quarter. ST Germain D J Co. Inc. now owns 191 shares of the medical research company's stock worth $34,000 after buying an additional 76 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in IQVIA by 10.7% during the fourth quarter. Quadrant Capital Group LLC now owns 928 shares of the medical research company's stock worth $182,000 after buying an additional 90 shares during the last quarter. Finally, Private Trust Co. NA boosted its stake in IQVIA by 22.4% in the first quarter. Private Trust Co. NA now owns 536 shares of the medical research company's stock valued at $94,000 after acquiring an additional 98 shares during the last quarter. Institutional investors and hedge funds own 89.62% of the company's stock.

Insider Buying and Selling at IQVIA

In other news, insider Keriann Cherofsky sold 549 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $191.53, for a total value of $105,149.97. Following the sale, the insider directly owned 2,910 shares in the company, valued at approximately $557,352.30. This trade represents a 15.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Sherbet sold 5,800 shares of the 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 owned 27,178 shares in the company, valued at approximately $5,165,178.90. The trade was a 17.59% 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.

IQVIA Price Performance

NYSE IQV traded down $1.82 during trading hours on Thursday, reaching $189.72. The company's stock had a trading volume of 508,157 shares, compared to its average volume of 2,027,438. The firm has a market capitalization of $32.25 billion, a price-to-earnings ratio of 27.46, a P/E/G ratio of 2.13 and a beta of 1.30. IQVIA Holdings Inc. has a 1-year low of $134.65 and a 1-year 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 company's 50-day moving average is $160.25 and its two-hundred day moving average is $170.31.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.77 by $0.04. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.96 billion. IQVIA had a return on equity of 30.05% and a net margin of 7.88%. The business's revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.64 earnings per share. On average, equities analysts predict that IQVIA Holdings Inc. will post 10.84 EPS for the current year.

Analyst Ratings Changes

IQV has been the topic of a number of research reports. Cowen restated a "buy" rating on shares of IQVIA in a research note on Wednesday, July 23rd. Truist Financial upped their price target on IQVIA from $209.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. HSBC cut IQVIA from a "buy" rating to a "hold" rating and dropped their price objective for the company from $260.00 to $160.00 in a research report on Friday, April 25th. Hsbc Global Res cut IQVIA from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Finally, Robert W. Baird raised their price target on IQVIA from $159.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, IQVIA has an average rating of "Moderate Buy" and a consensus target price of $228.62.

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.