Cary Street Partners Financial LLC Cuts Position in IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• Cary Street Partners Financial LLC significantly reduced its stake in IQVIA Holdings Inc. by 81.3%, now holding only 1,351 shares valued at approximately $238,000.
• Insider transactions included Keriann Cherofsky selling 549 shares and Eric Sherbet selling 5,800 shares, representing reductions in their holdings of 15.87% and 17.59%, respectively.
• Several analysts adjusted their ratings and price targets for IQVIA, with HSBC downgrading it from "buy" to "hold" and Mizuho raising its price target to $225.00, indicating a mixed outlook among investment analysts.

Cary Street Partners Financial LLC decreased its stake in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 81.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,351 shares of the medical research company's stock after selling 5,886 shares during the quarter. Cary Street Partners Financial LLC's holdings in IQVIA were worth $238,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. American National Bank & Trust purchased a new stake in shares of IQVIA during the first quarter worth about $26,000. 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 buying an additional 130 shares in the last quarter. AllSquare Wealth Management LLC purchased a new position in IQVIA in the 1st quarter valued at about $33,000. 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 buying an additional 76 shares in the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new position in IQVIA in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 89.62% of the company's stock.

Wall Street Analyst Weigh In

IQV has been the topic of a number of research reports. Evercore ISI raised their price target 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. Robert W. Baird raised their price target 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. William Blair reissued an "outperform" rating on shares of IQVIA in a research note on Wednesday, July 23rd. Barclays raised their price target on shares of IQVIA from $165.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 23rd. Finally, UBS Group raised their price target on shares of IQVIA from $185.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Seven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $228.62.

IQVIA Stock Down 1.0%

Shares of IQVIA stock traded down $1.83 during trading hours on Thursday, hitting $188.40. The company had a trading volume of 358,206 shares, compared to its average volume of 1,991,645. The company's 50-day moving average is $168.77 and its two-hundred day moving average is $169.04. IQVIA Holdings Inc. has a twelve month low of $134.65 and a twelve month high of $252.88. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $32.03 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 2.04 and a beta of 1.30.

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, beating the consensus estimate of $2.77 by $0.04. IQVIA had a net margin of 7.88% and a return on equity of 30.05%. The business had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.96 billion. During the same quarter in the prior year, the business posted $2.64 EPS. The company's revenue for the quarter was up 5.3% on a year-over-year basis. Analysts anticipate that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal year.

Insider Buying and Selling at IQVIA

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

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.