Blueshift Asset Management LLC Grows Position in IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• Blueshift Asset Management LLC increased its stake in IQVIA Holdings Inc. by 99.1%, acquiring an additional 1,601 shares to bring its total holdings to 3,217 shares valued at approximately $567,000.
• Several hedge funds, including Brighton Jones LLC and Schroder Investment Management Group, have significantly increased their investments in IQVIA, with Brighton Jones raising its stake by 244.4%.
• IQVIA's recent earnings report showed earnings of $2.81 per share, surpassing estimates and reflecting a year-over-year revenue increase of 5.3%, totaling $4.02 billion.

Blueshift Asset Management LLC increased its position in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 99.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,217 shares of the medical research company's stock after buying an additional 1,601 shares during the quarter. Blueshift Asset Management LLC's holdings in IQVIA were worth $567,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. American National Bank & Trust acquired a new position in IQVIA in the 1st quarter valued at approximately $26,000. Golden State Wealth Management LLC lifted its holdings in 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 acquired a new stake in shares of IQVIA in the first quarter valued at $33,000. ST Germain D J Co. Inc. increased its holdings 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 in the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of IQVIA during the fourth quarter valued at $39,000. 89.62% of the stock is currently owned by institutional investors.

IQVIA Price Performance

NYSE IQV traded up $0.52 on Monday, reaching $182.97. 1,100,457 shares of the company's stock traded hands, compared to its average volume of 2,403,455. 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 stock has a 50-day simple moving average of $162.11 and a 200 day simple moving average of $169.70. The stock has a market cap of $31.10 billion, a PE ratio of 26.48, a P/E/G ratio of 2.00 and a beta of 1.30. IQVIA Holdings Inc. has a 12 month low of $134.65 and a 12 month high of $252.88.

IQVIA (NYSE:IQV - Get Free Report) last announced its 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 business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the business earned $2.64 EPS. The company's quarterly revenue was up 5.3% compared to the same quarter last year. As a group, research analysts predict that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on IQV. 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 report on Friday, April 25th. Evercore ISI lifted their price target on IQVIA from $170.00 to $180.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Barclays raised their price objective on IQVIA from $165.00 to $185.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 23rd. William Blair reaffirmed an "outperform" rating on shares of IQVIA in a report on Wednesday, July 23rd. Finally, Cowen restated a "buy" rating on shares of IQVIA in a research report on Wednesday, July 23rd. Seven analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $228.62.

Insider Transactions at IQVIA

In related news, insider Eric Sherbet sold 5,800 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $5,165,178.90. The trade was a 17.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Keriann Cherofsky sold 549 shares of the company's 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 completion of the sale, the insider owned 2,910 shares of the company's stock, 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. Company insiders own 1.60% of the company's stock.

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.