Legacy Wealth Management LLC MS Acquires 2,812 Shares of IQVIA Holdings Inc. $IQV

Key Points

• Legacy Wealth Management LLC MS increased its stake in IQVIA Holdings Inc. by 14.5% in the second quarter, now holding 22,239 shares valued at approximately $3.5 million.
• Investors are showing strong interest in IQVIA, with significant increases in holdings from other large firms, including Pacer Advisors and JPMorgan Chase & Co., indicating a general confidence in the company's prospects.
• Despite some downward adjustments in price targets by various analysts, the consensus rating for IQVIA remains a "Moderate Buy" with an average price target of $229.64.

Legacy Wealth Management LLC MS increased its stake in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 14.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,239 shares of the medical research company's stock after acquiring an additional 2,812 shares during the quarter. IQVIA makes up 1.1% of Legacy Wealth Management LLC MS's investment portfolio, making the stock its 24th largest position. Legacy Wealth Management LLC MS's holdings in IQVIA were worth $3,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Sowell Financial Services LLC bought a new position in IQVIA during the 1st quarter worth approximately $305,000. Mather Group LLC. grew its position in IQVIA by 83.5% during the 1st quarter. Mather Group LLC. now owns 769 shares of the medical research company's stock worth $136,000 after acquiring an additional 350 shares during the last quarter. Private Advisor Group LLC grew its position in IQVIA by 11.6% during the 1st quarter. Private Advisor Group LLC now owns 5,435 shares of the medical research company's stock worth $958,000 after acquiring an additional 566 shares during the last quarter. Park Avenue Securities LLC grew its position in IQVIA by 40.4% during the 1st quarter. Park Avenue Securities LLC now owns 5,425 shares of the medical research company's stock worth $956,000 after acquiring an additional 1,562 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in IQVIA by 34.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,259 shares of the medical research company's stock worth $2,338,000 after acquiring an additional 3,398 shares during the last quarter. 89.62% of the stock is currently owned by institutional investors.

IQVIA Stock Performance

NYSE IQV traded up $1.00 on Tuesday, hitting $186.97. 1,005,530 shares of the company traded hands, compared to its average volume of 1,136,706. The company has a market capitalization of $31.78 billion, a price-to-earnings ratio of 17.86, a P/E/G ratio of 2.04 and a beta of 1.32. 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 business's 50 day moving average price is $183.32 and its 200-day moving average price is $167.24. IQVIA Holdings Inc. has a 52-week low of $134.65 and a 52-week high of $248.03.

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, 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 for the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the business earned $2.64 earnings per share. The business's 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 expect that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

Insider Activity

In other news, insider Eric Sherbet sold 5,800 shares of the business's stock in a transaction dated 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 transaction, the insider directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Keriann Cherofsky sold 549 shares of the business's stock in a transaction dated 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 sale, the insider owned 2,910 shares in the company, valued at $557,352.30. This represents 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 insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their target price on IQVIA from $232.00 to $177.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Jefferies Financial Group upgraded IQVIA from a "hold" rating to a "buy" rating and raised their target price for the company from $195.00 to $225.00 in a research note on Tuesday, September 9th. Mizuho raised their target price on IQVIA from $190.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Truist Financial lifted their price objective on IQVIA from $209.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, UBS Group lifted their price objective on IQVIA from $185.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Eighteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $229.64.

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.