Federated Hermes Inc. Decreases Stock Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• Federated Hermes Inc. reduced its stake in IQVIA Holdings by 12.9% during the first quarter, owning about 117,559 shares valued at approximately $20.7 million.
• Analysts have mixed opinions on IQVIA, with JPMorgan lowering its target price from $232.00 to $177.00, while Mizuho increased their target from $190.00 to $225.00.
• In its latest quarterly earnings, IQVIA reported earnings per share of $2.81, surpassing estimates and reflecting a 5.3% revenue increase compared to the previous year.

Federated Hermes Inc. reduced its position in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 12.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 117,559 shares of the medical research company's stock after selling 17,375 shares during the quarter. Federated Hermes Inc. owned approximately 0.07% of IQVIA worth $20,726,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of IQVIA by 244.4% in the fourth quarter. Brighton Jones LLC now owns 3,575 shares of the medical research company's stock valued at $703,000 after buying an additional 2,537 shares in the last quarter. Blair William & Co. IL increased its stake in shares of IQVIA by 42.0% in the fourth quarter. Blair William & Co. IL now owns 5,742 shares of the medical research company's stock worth $1,128,000 after purchasing an additional 1,699 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of IQVIA by 4.5% in the fourth quarter. Schroder Investment Management Group now owns 77,715 shares of the medical research company's stock worth $15,272,000 after purchasing an additional 3,333 shares in the last quarter. Wellington Management Group LLP grew its stake in IQVIA by 12.7% during the fourth quarter. Wellington Management Group LLP now owns 9,791 shares of the medical research company's stock valued at $1,924,000 after acquiring an additional 1,106 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in IQVIA by 4.7% during the fourth quarter. Franklin Resources Inc. now owns 525,489 shares of the medical research company's stock valued at $103,264,000 after acquiring an additional 23,682 shares in the last quarter. 89.62% of the stock is owned by institutional investors.

IQVIA Stock Performance

NYSE IQV traded down $3.42 on Friday, reaching $182.44. 1,644,130 shares of the stock were exchanged, compared to its average volume of 2,321,248. IQVIA Holdings Inc. has a one year low of $134.65 and a one year high of $252.88. The firm has a market capitalization of $31.01 billion, a PE ratio of 26.40, a PEG ratio of 2.00 and a beta of 1.30. The company's 50-day simple moving average is $162.11 and its two-hundred day simple moving average is $169.89. 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 (NYSE:IQV - Get Free Report) last released its earnings results on Tuesday, July 22nd. The medical research company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.77 by $0.04. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.96 billion. IQVIA had a net margin of 7.88% and a return on equity of 30.05%. The company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.64 earnings per share. Analysts expect that IQVIA Holdings Inc. will post 10.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other IQVIA news, insider Keriann Cherofsky sold 549 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $191.53, for a total transaction of $105,149.97. Following the transaction, the insider owned 2,910 shares in the company, valued at $557,352.30. The trade was a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric Sherbet sold 5,800 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $190.05, for a total transaction of $1,102,290.00. Following the transaction, the insider owned 27,178 shares in the company, valued at $5,165,178.90. This trade represents a 17.59% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group boosted their price target on shares of IQVIA from $185.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. William Blair reiterated an "outperform" rating on shares of IQVIA in a report on Wednesday, July 23rd. Redburn Partners set a $188.00 price target on shares of IQVIA in a research report on Friday, May 23rd. Barclays increased their price target on shares of IQVIA from $165.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. reduced 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. Seven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $228.62.

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.