Clear Harbor Asset Management LLC Increases Stock Position in IQVIA Holdings Inc. $IQV

Key Points

• Clear Harbor Asset Management LLC boosted its stake in IQVIA Holdings Inc. by 17.3%, acquiring 2,007 additional shares, bringing their total holdings to 13,577 shares worth approximately $2.14 million.
• Several other hedge funds also increased their positions in IQVIA, with UMB Bank n.a. leading with a 150.9% increase in ownership.
• Analysts have raised their price targets for IQVIA, with Mizuho setting a new target at $225.00 and a consensus rating of "Moderate Buy" from analysts.

Clear Harbor Asset Management LLC grew its position in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 17.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,577 shares of the medical research company's stock after purchasing an additional 2,007 shares during the period. Clear Harbor Asset Management LLC's holdings in IQVIA were worth $2,140,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Park Avenue Securities LLC increased its stake in IQVIA by 9.9% during the second quarter. Park Avenue Securities LLC now owns 5,963 shares of the medical research company's stock worth $940,000 after acquiring an additional 538 shares during the last quarter. Sowell Financial Services LLC boosted its holdings in shares of IQVIA by 18.5% in the 2nd quarter. Sowell Financial Services LLC now owns 2,049 shares of the medical research company's stock worth $323,000 after purchasing an additional 320 shares during the period. Farther Finance Advisors LLC increased its position in shares of IQVIA by 34.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 398 shares of the medical research company's stock valued at $63,000 after purchasing an additional 101 shares during the last quarter. CX Institutional raised its holdings in IQVIA by 104.4% during the 2nd quarter. CX Institutional now owns 1,549 shares of the medical research company's stock valued at $244,000 after buying an additional 791 shares during the period. Finally, UMB Bank n.a. lifted its position in IQVIA by 150.9% in the second quarter. UMB Bank n.a. now owns 675 shares of the medical research company's stock worth $106,000 after buying an additional 406 shares during the last quarter. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Eric Sherbet sold 5,800 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $5,165,178.90. This represents a 17.59% decrease in their position. 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 dated Wednesday, July 23rd. The shares were sold at an average price of $191.53, for a total transaction of $105,149.97. Following the sale, the insider directly owned 2,910 shares of the company's stock, valued at approximately $557,352.30. This represents a 15.87% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Barclays increased their target price on shares of IQVIA from $165.00 to $185.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 23rd. Robert W. Baird upped their price target on shares of IQVIA from $159.00 to $196.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Cowen reissued a "buy" rating on shares of IQVIA in a research note on Wednesday, July 23rd. Redburn Partners set a $214.00 target price on IQVIA in a research report on Wednesday, September 3rd. Finally, Mizuho increased their price target on IQVIA from $190.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Eighteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $229.64.

IQVIA Stock Down 1.5%

IQV opened at $187.29 on Monday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.84 and a current ratio of 0.84. IQVIA Holdings Inc. has a one year low of $134.65 and a one year high of $245.20. The business's 50-day simple moving average is $184.79 and its 200-day simple moving average is $167.18. The stock has a market capitalization of $31.84 billion, a P/E ratio of 27.10, a price-to-earnings-growth ratio of 2.06 and a beta of 1.32.

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, topping the consensus estimate 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 the consensus estimate of $3.96 billion. During the same quarter in the prior year, the firm earned $2.64 earnings per share. The business'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. Analysts anticipate that IQVIA Holdings Inc. will post 10.84 EPS for the current 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.

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