Choreo LLC Reduces Stock Position in IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• Choreo LLC decreased its holdings in IQVIA Holdings Inc. by 28.3% in the first quarter, owning 3,709 shares after selling 1,464 shares.
• IQVIA reported a quarterly EPS of $2.81, surpassing estimates, with a revenue of $4.02 billion, which is a 5.3% year-over-year increase.
• The stock currently has a consensus rating of "Moderate Buy" among analysts, with an average target price of $228.62.

Choreo LLC lowered its position in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 28.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,709 shares of the medical research company's stock after selling 1,464 shares during the period. Choreo LLC's holdings in IQVIA were worth $654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. American National Bank & Trust acquired a new stake in shares of IQVIA during the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC boosted its position in shares of IQVIA by 295.5% during the 1st quarter. Golden State Wealth Management LLC now owns 174 shares of the medical research company's stock worth $31,000 after purchasing an additional 130 shares during the period. ST Germain D J Co. Inc. boosted its position in shares of IQVIA by 66.1% during the 1st quarter. ST Germain D J Co. Inc. now owns 191 shares of the medical research company's stock worth $34,000 after purchasing an additional 76 shares during the period. GKV Capital Management Co. Inc. purchased a new position in shares of IQVIA during the 4th quarter worth approximately $39,000. Finally, Larson Financial Group LLC boosted its position in shares of IQVIA by 109.9% during the 1st quarter. Larson Financial Group LLC now owns 275 shares of the medical research company's stock worth $48,000 after purchasing an additional 144 shares during the period. Institutional investors and hedge funds own 89.62% of the company's stock.

Wall Street Analyst Weigh In

IQV has been the subject of a number of research analyst reports. Citigroup reaffirmed a "neutral" rating on shares of IQVIA in a research report on Thursday, May 22nd. Cowen reiterated a "buy" rating on shares of IQVIA in a report on Wednesday, July 23rd. Evercore ISI increased their target price on shares of IQVIA from $170.00 to $180.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. 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 report on Wednesday, July 23rd. Finally, UBS Group increased their target price on shares of IQVIA from $185.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, IQVIA currently has a consensus rating of "Moderate Buy" and an average price target of $228.62.

Insider Buying and Selling

In other IQVIA news, insider Keriann Cherofsky sold 549 shares of the business's stock in a transaction 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 sale, the insider directly owned 2,910 shares in the company, valued at approximately $557,352.30. The trade was a 15.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Sherbet sold 5,800 shares of the business's stock in a transaction 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 in the company, valued at $5,165,178.90. The trade was a 17.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

IQVIA Stock Performance

IQV stock traded down $3.09 on Wednesday, hitting $191.46. The company's stock had a trading volume of 1,277,860 shares, compared to its average volume of 2,260,587. 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 cap of $32.55 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 2.13 and a beta of 1.30. The firm has a 50 day moving average of $160.25 and a two-hundred day moving average of $170.31. 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 announced its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $0.04. The company 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%. IQVIA's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.64 EPS. Equities analysts predict that IQVIA Holdings Inc. will post 10.84 EPS for the current fiscal year.

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.