Associated Banc Corp Boosts Stake in IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• Associated Banc Corp increased its stake in IQVIA Holdings Inc. by 28.4%, owning approximately $30.05 million worth of shares as of its latest SEC filing.
• In Q1, multiple institutional investors adjusted their holdings, with 89.62% of IQVIA's stock now owned by hedge funds and institutional investors.
• IQVIA reported earnings surpassing forecasts with $2.81 per share, attributed to a revenue of $4.02 billion, an increase of 5.3% year-over-year.

Associated Banc Corp boosted its position in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 28.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,422 shares of the medical research company's stock after buying an additional 37,650 shares during the period. Associated Banc Corp owned approximately 0.10% of IQVIA worth $30,045,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. American National Bank & Trust purchased a new position in IQVIA in the first quarter worth about $26,000. Golden State Wealth Management LLC increased its position in shares of IQVIA by 295.5% during the 1st 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 last quarter. AllSquare Wealth Management LLC purchased a new stake in IQVIA during the 1st quarter valued at $33,000. ST Germain D J Co. Inc. lifted its position in 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 worth $34,000 after buying an additional 76 shares during the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new position in IQVIA during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 89.62% of the company's stock.

Insider Activity at IQVIA

In other news, insider Eric Sherbet sold 5,800 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was 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 of the company's stock, valued at $5,165,178.90. This trade represents a 17.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Keriann Cherofsky sold 549 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $191.53, for a total value of $105,149.97. Following the transaction, the insider directly owned 2,910 shares in the company, valued at $557,352.30. This represents a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IQV shares. Barclays raised their target price on shares of IQVIA from $165.00 to $185.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. decreased their price objective on shares of IQVIA from $232.00 to $177.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. William Blair reaffirmed an "outperform" rating on shares of IQVIA in a research note on Wednesday, July 23rd. Redburn Partners set a $188.00 price target on IQVIA in a research note on Friday, May 23rd. Finally, HSBC lowered IQVIA from a "buy" rating to a "hold" rating and reduced their target price for the stock from $260.00 to $160.00 in a research note on Friday, April 25th. Seven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $228.62.

IQVIA Stock Up 0.8%

NYSE IQV traded up $1.50 during midday trading on Thursday, hitting $178.99. 1,028,825 shares of the company traded hands, compared to its average volume of 2,429,466. The company has a market cap of $30.43 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 1.95 and a beta of 1.30. 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 52 week low of $134.65 and a 52 week high of $252.88. The company's 50-day simple moving average is $164.68 and its 200-day simple moving average is $169.75.

IQVIA (NYSE:IQV - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.96 billion. IQVIA had a return on equity of 30.05% and a net margin of 7.88%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.64 earnings per share. As a group, equities research analysts forecast that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

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.