Fifth Third Bancorp Grows Stake in IQVIA Holdings Inc. $IQV

Key Points

• Fifth Third Bancorp increased its stake in IQVIA Holdings Inc. by 50.6% in the second quarter, owning a total of 24,116 shares worth approximately $3.8 million.
• Analysts have recently raised price targets for IQVIA, with UBS increasing its target from $185 to $225 and other analysts providing a consensus target price of $229.64.
• Insider Eric Sherbet sold 5,800 shares of IQVIA at an average price of $190.05, leading to a significant decrease in his ownership of the stock.

Fifth Third Bancorp lifted its stake in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 50.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,116 shares of the medical research company's stock after buying an additional 8,103 shares during the period. Fifth Third Bancorp's holdings in IQVIA were worth $3,800,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IQV. Sowell Financial Services LLC purchased a new stake in shares of IQVIA during the first quarter valued at approximately $305,000. Mather Group LLC. increased its stake in IQVIA by 83.5% during the 1st quarter. Mather Group LLC. now owns 769 shares of the medical research company's stock worth $136,000 after buying an additional 350 shares during the period. Private Advisor Group LLC boosted its position in IQVIA by 11.6% in the 1st quarter. Private Advisor Group LLC now owns 5,435 shares of the medical research company's stock valued at $958,000 after buying an additional 566 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of IQVIA by 40.4% during the first quarter. Park Avenue Securities LLC now owns 5,425 shares of the medical research company's stock valued at $956,000 after acquiring an additional 1,562 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of IQVIA by 34.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,259 shares of the medical research company's stock worth $2,338,000 after acquiring an additional 3,398 shares during the last quarter. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Evercore ISI raised their price objective on IQVIA from $170.00 to $180.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. UBS Group raised their price target on shares of IQVIA from $185.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Cowen reaffirmed a "buy" rating on shares of IQVIA in a report on Wednesday, July 23rd. Barclays raised their price objective 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. Finally, Truist Financial upped their target price on shares of IQVIA from $209.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Eighteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $229.64.

Insider Buying and Selling

In other IQVIA news, insider Eric Sherbet sold 5,800 shares of the 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 sale, the insider directly owned 27,178 shares of the company's stock, valued at $5,165,178.90. This trade represents a 17.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 directly owned 2,910 shares of the company's stock, valued at approximately $557,352.30. This trade represents a 15.87% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

IQVIA Stock Up 1.6%

Shares of NYSE:IQV opened at $179.51 on Friday. The company's fifty day moving average is $187.01 and its two-hundred day moving average is $167.28. 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 1-year low of $134.65 and a 1-year high of $237.34. The stock has a market capitalization of $30.52 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 1.94 and a beta of 1.32.

IQVIA (NYSE:IQV - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.81 EPS for the quarter, beating the consensus estimate 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 net margin of 7.88% and a return on equity of 30.05%. The company's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.64 EPS. IQVIA has set its FY 2025 guidance at 11.750-12.050 EPS. Equities 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.