ING Groep NV Acquires 10,400 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• ING Groep NV has increased its stake in IQVIA Holdings Inc. by 72.3% this quarter, now holding 24,787 shares valued at approximately $4,370,000.
• Multiple investment analysts have issued ratings on IQVIA, with a consensus target price of $228.62 and a majority giving the stock a "buy" rating.
• IQVIA reported better-than-expected earnings for the quarter, with an EPS of $2.81 surpassing estimates by 4 cents, and a revenue of $4.02 billion, outperforming analyst predictions.

ING Groep NV lifted its position in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 72.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,787 shares of the medical research company's stock after purchasing an additional 10,400 shares during the quarter. ING Groep NV's holdings in IQVIA were worth $4,370,000 at the end of the most recent reporting period.

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

IQVIA Stock Up 0.6%

IQVIA stock traded up $1.03 during trading hours on Friday, hitting $179.98. The stock had a trading volume of 877,737 shares, compared to its average volume of 2,400,431. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 2.45. The stock has a market capitalization of $30.60 billion, a P/E ratio of 26.05, a price-to-earnings-growth ratio of 1.96 and a beta of 1.30. IQVIA Holdings Inc. has a 12-month low of $134.65 and a 12-month high of $252.88. The stock's 50-day moving average price is $166.23 and its 200-day moving average price is $169.45.

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, topping the consensus estimate of $2.77 by $0.04. The business had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.96 billion. IQVIA had a net margin of 7.88% and a return on equity of 30.05%. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period 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 fiscal year.

Insider Activity

In other news, insider Eric Sherbet sold 5,800 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 27,178 shares of the company's stock, valued at $5,165,178.90. The trade was a 17.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Keriann Cherofsky sold 549 shares of the business's stock in a transaction that occurred 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 $557,352.30. The trade was a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. HSBC cut shares of IQVIA from a "buy" rating to a "hold" rating and lowered their target price for the stock from $260.00 to $160.00 in a research note on Friday, April 25th. Robert W. Baird increased their target price on shares of IQVIA from $159.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Mizuho increased their target price on shares of IQVIA from $190.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. William Blair reiterated an "outperform" rating on shares of IQVIA in a research note on Wednesday, July 23rd. Finally, Evercore ISI upped their price objective on shares of IQVIA from $170.00 to $180.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Seven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $228.62.

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.