Forsta AP Fonden Cuts Position in IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• Forsta AP Fonden reduced its holdings in IQVIA Holdings Inc. by 7.0% during the first quarter, now owning 38,400 shares valued at approximately $6.77 million.
• Multiple hedge funds increased their positions in IQVIA, with Citigroup boosting its holdings by 236.3%, now owning 415,420 shares worth about $73.24 million.
• IQVIA reported earnings of $2.81 per share, exceeding analysts' estimates, and had a revenue of $4.02 billion, showing a year-over-year increase of 5.3%.

Forsta AP Fonden decreased its position in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 7.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,400 shares of the medical research company's stock after selling 2,900 shares during the quarter. Forsta AP Fonden's holdings in IQVIA were worth $6,770,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. American National Bank & Trust purchased a new stake in shares of IQVIA in the first quarter worth $26,000. Golden State Wealth Management LLC boosted its position in shares of IQVIA by 295.5% during the first quarter. Golden State Wealth Management LLC now owns 174 shares of the medical research company's stock valued at $31,000 after buying an additional 130 shares during the last quarter. AllSquare Wealth Management LLC purchased a new stake in shares of IQVIA during the first quarter valued at $33,000. ST Germain D J Co. Inc. boosted its position in shares of IQVIA by 66.1% during 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 buying an additional 76 shares during the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of IQVIA during the fourth quarter valued at $39,000. Institutional investors own 89.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Mizuho increased their price objective on IQVIA from $190.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Citigroup reaffirmed a "neutral" rating on shares of IQVIA in a research report on Thursday, May 22nd. Cowen reaffirmed a "buy" rating on shares of IQVIA in a research report on Wednesday, July 23rd. HSBC cut IQVIA from a "buy" rating to a "hold" rating and dropped their price objective for the company from $260.00 to $160.00 in a research report on Friday, April 25th. Finally, Robert W. Baird increased their price objective on IQVIA from $159.00 to $196.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Seven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $228.62.

IQVIA Price Performance

IQV traded down $0.73 on Thursday, hitting $189.50. 637,769 shares of the company's stock traded hands, compared to its average volume of 1,992,763. The company's 50 day simple moving average is $168.77 and its 200-day simple moving average is $169.04. The firm has a market cap of $32.21 billion, a price-to-earnings ratio of 27.42, a P/E/G ratio of 2.04 and a beta of 1.30. IQVIA Holdings Inc. has a one year low of $134.65 and a one year high of $252.88. 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 issued its earnings results on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $2.64 EPS. As a group, research analysts anticipate that IQVIA Holdings Inc. will post 10.84 EPS for the current year.

Insider Activity at IQVIA

In related news, insider Eric Sherbet sold 5,800 shares of IQVIA stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $190.05, for a total transaction of $1,102,290.00. Following the sale, the insider owned 27,178 shares of the company's stock, valued at approximately $5,165,178.90. This trade represents a 17.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Keriann Cherofsky sold 549 shares of IQVIA stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $191.53, for a total value of $105,149.97. Following the sale, the insider directly owned 2,910 shares in the company, valued at $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 company insiders.

IQVIA Company 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.