JPMorgan Chase & Co. Boosts Position in IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• JPMorgan Chase & Co. increased its stake in IQVIA Holdings Inc. by 45.7%, owning approximately 1.47% of the company with a value of $448.69 million as of the latest quarter.
• Several hedge funds have adjusted their positions in IQVIA, with cumulative institutional ownership at 89.62% of the company’s stock.
• IQVIA reported a quarterly earnings per share (EPS) of $2.81, exceeding analyst expectations, while also achieving revenues of $4.02 billion for the quarter.

JPMorgan Chase & Co. raised its stake in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 45.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,545,014 shares of the medical research company's stock after buying an additional 798,534 shares during the quarter. JPMorgan Chase & Co. owned about 1.47% of IQVIA worth $448,686,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. American National Bank & Trust purchased a new position in IQVIA during the 1st quarter valued at about $26,000. Golden State Wealth Management LLC grew 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 worth $31,000 after purchasing an additional 130 shares in the last quarter. AllSquare Wealth Management LLC purchased a new position in shares of IQVIA during the first quarter worth about $33,000. ST Germain D J Co. Inc. grew its holdings in shares of IQVIA by 66.1% during the first 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 in the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new position in shares of IQVIA during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 89.62% of the company's stock.

Insiders Place Their Bets

In other IQVIA news, insider Keriann Cherofsky sold 549 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $191.53, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric Sherbet sold 5,800 shares of the stock in a transaction on 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 transaction, the insider owned 27,178 shares of the company's stock, valued at approximately $5,165,178.90. This trade represents a 17.59% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

IQVIA Stock Performance

Shares of IQV stock opened at $180.18 on Tuesday. The stock has a fifty day moving average of $167.06 and a 200 day moving average of $168.77. IQVIA Holdings Inc. has a 52 week low of $134.65 and a 52 week high of $252.88. The firm has a market capitalization of $30.63 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 1.97 and a beta of 1.30. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 2.45.

IQVIA (NYSE:IQV - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.77 by $0.04. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.96 billion. IQVIA had a return on equity of 30.05% and a net margin of 7.88%. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.64 earnings per share. As a group, research analysts expect that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on IQV shares. JPMorgan Chase & Co. cut their price objective on IQVIA from $232.00 to $177.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Citigroup reissued a "neutral" rating on shares of IQVIA in a report on Thursday, May 22nd. Barclays boosted their price objective on IQVIA from $165.00 to $185.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 23rd. Redburn Partners set a $188.00 target price on IQVIA in a research note on Friday, May 23rd. Finally, Mizuho upped their target price on IQVIA from $190.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Seven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $228.62.

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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