State of New Jersey Common Pension Fund D Sells 7,406 Shares of IQVIA Holdings Inc. $IQV

Key Points

• The State of New Jersey Common Pension Fund D decreased its holdings in IQVIA Holdings Inc. by 11.2% in the first quarter, selling 7,406 shares and now owning 58,502 shares valued at approximately $10.31 million.
• IQVIA reported $2.81 earnings per share for the last quarter, surpassing expectations, and its quarterly revenue increased by 5.3% year-over-year, totaling $4.02 billion.
• Analysts show a positive outlook for IQVIA, with an average rating of "Moderate Buy" and a consensus target price of $228.62, following several price target increases from notable firms.

State of New Jersey Common Pension Fund D trimmed its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 11.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,502 shares of the medical research company's stock after selling 7,406 shares during the period. State of New Jersey Common Pension Fund D's holdings in IQVIA were worth $10,314,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. American National Bank & Trust acquired a new position in shares of IQVIA during the 1st quarter worth about $26,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of IQVIA by 436.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 161 shares of the medical research company's stock worth $28,000 after buying an additional 131 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in IQVIA by 295.5% in the 1st quarter. Golden State Wealth Management LLC now owns 174 shares of the medical research company's stock valued at $31,000 after purchasing an additional 130 shares during the last quarter. AllSquare Wealth Management LLC acquired a new stake in IQVIA in the 1st quarter valued at about $33,000. Finally, ST Germain D J Co. Inc. lifted its stake in IQVIA by 66.1% in the 1st quarter. ST Germain D J Co. Inc. now owns 191 shares of the medical research company's stock valued at $34,000 after purchasing an additional 76 shares during the last quarter. 89.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at IQVIA

In other news, insider Keriann Cherofsky sold 549 shares of the firm'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 approximately $557,352.30. This trade represents a 15.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Sherbet sold 5,800 shares of the firm's 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 transaction, 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 disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. UBS Group raised their target price on shares of IQVIA from $185.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Barclays raised their target price on shares of IQVIA from $165.00 to $185.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 23rd. Redburn Partners set a $188.00 target price on shares of IQVIA in a research note on Friday, May 23rd. Evercore ISI raised their target price 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. Finally, Mizuho raised their target price on shares of IQVIA from $190.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Seventeen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, IQVIA has a consensus rating of "Moderate Buy" and a consensus target price of $228.62.

IQVIA Stock Performance

IQV stock traded up $5.5970 during mid-day trading on Friday, hitting $190.9870. 1,188,084 shares of the company were exchanged, compared to its average volume of 1,962,033. The business has a 50 day simple moving average of $173.02 and a 200-day simple moving average of $168.57. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.45. The stock has a market capitalization of $32.47 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 2.11 and a beta of 1.30. IQVIA Holdings Inc. has a 1-year low of $134.65 and a 1-year high of $252.88.

IQVIA (NYSE:IQV - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate 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 last year, the business posted $2.64 earnings per share. IQVIA has set its FY 2025 guidance at 11.750-12.050 EPS. On average, equities analysts forecast that IQVIA Holdings Inc. will post 10.84 earnings per share 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.