IQVIA Holdings Inc. (NYSE:IQV) Stake Lowered by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. reduced its stake in IQVIA Holdings by 21.0%, now holding approximately 1.11% of the company, worth $339.7 million after selling 511,815 shares in Q1.
• Analysts have mixed views on IQVIA, with ratings varying from "buy" to "hold," and a consensus price target of $228.62 despite JPMorgan lowering their price objective from $232 to $177.
• The company's Q2 earnings show a positive performance, reporting earnings per share of $2.81 which exceeds estimates by $0.04, alongside a revenue of $4.02 billion, up 5.3% year-over-year.

Mitsubishi UFJ Asset Management Co. Ltd. lowered its stake in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 21.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,926,911 shares of the medical research company's stock after selling 511,815 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 1.11% of IQVIA worth $339,714,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IQV. American National Bank & Trust acquired a new stake in shares of IQVIA in the 1st quarter worth about $26,000. Golden State Wealth Management LLC raised its holdings in shares of IQVIA by 295.5% during the first 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 during the last quarter. AllSquare Wealth Management LLC bought a new position in IQVIA in the 1st quarter worth approximately $33,000. ST Germain D J Co. Inc. increased its position 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 acquiring an additional 76 shares during the period. Finally, GKV Capital Management Co. Inc. acquired a new position in IQVIA during the 4th quarter worth $39,000. 89.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IQV has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of IQVIA from $232.00 to $177.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Barclays raised their target price on shares of IQVIA from $165.00 to $185.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 23rd. Cowen reiterated a "buy" rating on shares of IQVIA in a research report on Wednesday, July 23rd. Truist Financial lifted their target price on IQVIA from $209.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Robert W. Baird upped their target price on IQVIA from $159.00 to $196.00 and gave the company a "neutral" rating in a report 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $228.62.

Insider Activity

In other news, insider Eric Sherbet sold 5,800 shares of the company's stock in a transaction dated 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 completion of the sale, the insider owned 27,178 shares in the company, valued at approximately $5,165,178.90. This represents a 17.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $105,149.97. Following the completion of the transaction, the insider directly owned 2,910 shares in the company, 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 owned by company insiders.

IQVIA Stock Down 3.5%

Shares of IQVIA stock opened at $177.41 on Thursday. The firm has a market cap of $30.16 billion, a price-to-earnings ratio of 25.67, a P/E/G ratio of 2.02 and a beta of 1.30. The stock has a 50-day simple moving average of $163.90 and a 200-day simple moving average of $169.69. IQVIA Holdings Inc. has a 52-week low of $134.65 and a 52-week 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.

IQVIA (NYSE:IQV - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.77 by $0.04. The firm 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 company's revenue 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. On average, equities research analysts expect that IQVIA Holdings Inc. will post 10.84 earnings per share 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.

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