IQVIA Holdings Inc. $IQV Shares Sold by Eastern Bank

Key Points

• Eastern Bank reduced its stake in IQVIA Holdings by 3.0% in Q2, leaving it with 57,009 shares valued at approximately $8.98 million.
• Recent analyst upgrades include HSBC raising its rating from "hold" to "buy" and increasing the target price from $195 to $235.
• IQVIA reported robust Q2 earnings with $2.81 EPS, surpassing estimates and indicating a year-over-year revenue growth of 5.3%.

Eastern Bank cut its stake in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,009 shares of the medical research company's stock after selling 1,786 shares during the quarter. Eastern Bank's holdings in IQVIA were worth $8,984,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Everpar Advisors LLC lifted its holdings in IQVIA by 4.6% in the second quarter. Everpar Advisors LLC now owns 1,404 shares of the medical research company's stock valued at $221,000 after acquiring an additional 62 shares during the period. Ballentine Partners LLC lifted its holdings in IQVIA by 4.9% in the first quarter. Ballentine Partners LLC now owns 1,477 shares of the medical research company's stock valued at $260,000 after acquiring an additional 69 shares during the period. Independent Advisor Alliance lifted its holdings in IQVIA by 4.2% in the first quarter. Independent Advisor Alliance now owns 1,801 shares of the medical research company's stock valued at $318,000 after acquiring an additional 72 shares during the period. Nemes Rush Group LLC lifted its holdings in IQVIA by 15.0% in the first quarter. Nemes Rush Group LLC now owns 621 shares of the medical research company's stock valued at $109,000 after acquiring an additional 81 shares during the period. Finally, Forte Capital LLC ADV lifted its holdings in IQVIA by 0.3% in the second quarter. Forte Capital LLC ADV now owns 26,809 shares of the medical research company's stock valued at $4,225,000 after acquiring an additional 92 shares during the period. 89.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IQV has been the subject of a number of recent analyst reports. HSBC raised IQVIA from a "hold" rating to a "buy" rating and raised their target price for the company from $195.00 to $235.00 in a report on Thursday. Weiss Ratings restated a "hold (c)" rating on shares of IQVIA in a research report on Wednesday. Barclays raised their price target on IQVIA from $185.00 to $200.00 and gave the company an "equal weight" rating in a research report on Thursday, October 2nd. Mizuho raised their price target on IQVIA from $190.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, William Blair restated an "outperform" rating on shares of IQVIA in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $236.45.

Insider Activity

In other IQVIA news, insider Eric Sherbet sold 5,800 shares of IQVIA stock in a transaction dated 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 completion of the sale, the insider owned 27,178 shares in the company, valued at $5,165,178.90. The trade was a 17.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Keriann Cherofsky sold 549 shares of IQVIA stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $191.53, for a total value of $105,149.97. Following the completion of the sale, the insider owned 2,910 shares of the company's stock, 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 owned by insiders.

IQVIA Trading Down 2.3%

IQVIA stock opened at $198.35 on Friday. The stock has a market cap of $33.72 billion, a PE ratio of 28.70, a P/E/G ratio of 2.23 and a beta of 1.32. The stock has a 50-day moving average price of $189.02 and a 200 day moving average price of $168.27. IQVIA Holdings Inc. has a 52 week low of $134.65 and a 52 week high of $237.34. 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 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 company had revenue of $4.02 billion during 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 revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.64 EPS. IQVIA has set its FY 2025 guidance at 11.750-12.050 EPS. Equities research analysts predict that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal 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.

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