IQVIA Holdings Inc. $IQV Stake Cut by Korea Investment CORP

Key Points

• Korea Investment CORP has reduced its stake in IQVIA Holdings by 8.0%, holding approximately $22.87 million worth of shares by the end of the first quarter.
• During the same period, several other institutional investors increased their positions in IQVIA, with American Century Companies boosting its stake by 26.8% to own about $253.7 million in shares.
• IQVIA recently reported earnings exceeding analysts' expectations, with a quarterly revenue of $4.02 billion and a return on equity of 30.05%.

Korea Investment CORP trimmed its holdings in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 8.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 129,728 shares of the medical research company's stock after selling 11,349 shares during the period. Korea Investment CORP owned about 0.07% of IQVIA worth $22,871,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in IQV. Brighton Jones LLC raised its position in shares of IQVIA by 244.4% in the 4th quarter. Brighton Jones LLC now owns 3,575 shares of the medical research company's stock valued at $703,000 after purchasing an additional 2,537 shares in the last quarter. First Trust Advisors LP raised its position in shares of IQVIA by 15.3% during the 4th quarter. First Trust Advisors LP now owns 59,966 shares of the medical research company's stock valued at $11,784,000 after acquiring an additional 7,969 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of IQVIA by 76.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,707 shares of the medical research company's stock valued at $2,104,000 after acquiring an additional 4,632 shares in the last quarter. TD Waterhouse Canada Inc. raised its position in shares of IQVIA by 1.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 18,167 shares of the medical research company's stock valued at $3,572,000 after acquiring an additional 330 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of IQVIA by 5.1% during the 4th quarter. Hsbc Holdings PLC now owns 416,381 shares of the medical research company's stock valued at $81,856,000 after acquiring an additional 20,323 shares in the last quarter. 89.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IQV. Truist Financial increased their target price on IQVIA from $209.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Hsbc Global Res lowered IQVIA from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Barclays increased their target price on IQVIA from $165.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 23rd. Cowen reaffirmed a "buy" rating on shares of IQVIA in a research report on Wednesday, July 23rd. Finally, Citigroup reaffirmed a "neutral" rating on shares of IQVIA in a research report on Thursday, May 22nd. Seventeen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $228.62.

IQVIA Price Performance

IQV stock traded up $5.5970 during trading hours on Friday, hitting $190.9870. 1,619,418 shares of the stock traded hands, compared to its average volume of 1,441,272. The stock has a 50-day simple moving average of $173.70 and a 200 day simple moving average of $168.26. IQVIA Holdings Inc. has a one year low of $134.65 and a one year high of $252.88. The company has a market cap of $32.47 billion, a P/E ratio of 27.64, a P/E/G ratio of 2.10 and a beta of 1.30. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.45.

IQVIA (NYSE:IQV - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.04. IQVIA had a return on equity of 30.05% and a net margin of 7.88%.The business had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.96 billion. During the same quarter last year, the business posted $2.64 earnings per share. The company's quarterly revenue was up 5.3% on a year-over-year basis. IQVIA has set its FY 2025 guidance at 11.750-12.050 EPS. Equities analysts forecast that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

Insider Buying and Selling at IQVIA

In other news, insider Keriann Cherofsky sold 549 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $191.53, for a total transaction of $105,149.97. Following the completion of the sale, the insider directly owned 2,910 shares of the company's stock, valued at $557,352.30. This represents a 15.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric Sherbet sold 5,800 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $190.05, for a total value of $1,102,290.00. Following the sale, the insider directly owned 27,178 shares of the company's stock, valued at approximately $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. Corporate insiders own 1.60% of the company's stock.

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.