Gulf International Bank UK Ltd Sells 4,172 Shares of IQVIA Holdings Inc. $IQV

Key Points

• Gulf International Bank UK Ltd reduced its holdings in IQVIA Holdings Inc. by 28.8% during Q1, now owning 10,332 shares valued at approximately $1.82 million.
• JPMorgan Chase & Co. significantly increased its position in IQVIA by 45.7%, holding 2,545,014 shares worth around $448.69 million.
• IQVIA reported a Q2 EPS of $2.81, beating estimates and showing a 5.3% increase in revenue year-over-year with a market cap of $32.21 billion.

Gulf International Bank UK Ltd cut its stake in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 28.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,332 shares of the medical research company's stock after selling 4,172 shares during the period. Gulf International Bank UK Ltd's holdings in IQVIA were worth $1,821,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board raised its stake in shares of IQVIA by 20.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 4,282,024 shares of the medical research company's stock worth $841,461,000 after buying an additional 712,958 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of IQVIA by 45.7% during the 1st quarter. JPMorgan Chase & Co. now owns 2,545,014 shares of the medical research company's stock worth $448,686,000 after buying an additional 798,534 shares in the last quarter. Northern Trust Corp raised its stake in shares of IQVIA by 16.2% during the 4th quarter. Northern Trust Corp now owns 1,791,229 shares of the medical research company's stock worth $351,994,000 after buying an additional 250,141 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of IQVIA by 13.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,393,140 shares of the medical research company's stock worth $273,766,000 after buying an additional 167,057 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of IQVIA by 18.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,387,862 shares of the medical research company's stock worth $272,744,000 after buying an additional 214,046 shares in the last quarter. 89.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on IQV shares. Redburn Partners set a $188.00 target price on IQVIA in a research note on Friday, May 23rd. Robert W. Baird raised their price objective on IQVIA from $159.00 to $196.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. 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. HSBC downgraded 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 note on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their price objective on IQVIA from $232.00 to $177.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Seven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $228.62.

IQVIA Stock Performance

Shares of NYSE IQV traded up $1.49 during midday trading on Monday, hitting $192.58. 1,340,927 shares of the company's stock were exchanged, compared to its average volume of 1,981,680. IQVIA Holdings Inc. has a twelve month low of $134.65 and a twelve month high of $252.88. The firm has a market cap of $32.74 billion, a P/E ratio of 27.87, a PEG ratio of 2.10 and a beta of 1.30. The stock's 50 day moving average price is $170.40 and its 200-day moving average price is $168.40. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.84 and a quick ratio of 0.84.

IQVIA (NYSE:IQV - Get Free Report) last announced 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 analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.64 earnings per share. Equities research analysts anticipate that IQVIA Holdings Inc. will post 10.84 EPS for the current year.

Insider Buying and Selling at IQVIA

In other IQVIA news, insider Eric Sherbet sold 5,800 shares of the company's stock in a transaction dated 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 completion of the sale, the insider directly owned 27,178 shares in the company, valued at $5,165,178.90. This represents a 17.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Keriann Cherofsky sold 549 shares of the company'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 transaction, the insider directly owned 2,910 shares of the company's stock, valued at $557,352.30. This represents a 15.87% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

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.