IQVIA Holdings Inc. $IQV Shares Sold by LGT Group Foundation

Key Points

• LGT Group Foundation significantly reduced its stake in IQVIA Holdings Inc. by 90.2%, leaving it with only 2,390 shares valued at $421,000.
• Several institutional investors increased their holdings in IQVIA, with Clal Insurance and Golden State Wealth Management showing substantial growth of 436.7% and 295.5% respectively.
• Analysts have given IQVIA an average rating of “Moderate Buy” with a price target of $228.62, following mixed evaluations from top investment firms.

LGT Group Foundation cut its stake in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 90.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,390 shares of the medical research company's stock after selling 22,025 shares during the quarter. LGT Group Foundation's holdings in IQVIA were worth $421,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in IQV. Continuum Advisory LLC lifted its position in shares of IQVIA by 3.7% in the 4th quarter. Continuum Advisory LLC now owns 1,803 shares of the medical research company's stock worth $354,000 after purchasing an additional 64 shares during the period. Ballentine Partners LLC lifted its holdings in IQVIA by 4.9% in the first quarter. Ballentine Partners LLC now owns 1,477 shares of the medical research company's stock valued at $260,000 after buying an additional 69 shares during the period. Independent Advisor Alliance boosted its position in IQVIA by 4.2% during the first quarter. Independent Advisor Alliance now owns 1,801 shares of the medical research company's stock valued at $318,000 after acquiring an additional 72 shares during the last quarter. ST Germain D J Co. Inc. raised its position in shares of 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 worth $34,000 after acquiring an additional 76 shares in the last quarter. Finally, Nemes Rush Group LLC lifted its stake in shares of IQVIA by 15.0% in the 1st quarter. Nemes Rush Group LLC now owns 621 shares of the medical research company's stock valued at $109,000 after purchasing an additional 81 shares during the period. Institutional investors and hedge funds own 89.62% of the company's stock.

IQVIA Price Performance

NYSE IQV traded up $1.63 during trading hours on Monday, hitting $192.72. 554,938 shares of the company's stock traded hands, compared to its average volume of 1,979,367. 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 firm's 50-day moving average is $170.40 and its 200-day moving average is $168.40. IQVIA Holdings Inc. has a 52-week low of $134.65 and a 52-week high of $252.88. The company has a market capitalization of $32.76 billion, a PE ratio of 27.91, a PEG ratio of 2.10 and a beta of 1.30.

IQVIA (NYSE:IQV - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share for the quarter, topping 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 company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the business posted $2.64 earnings per share. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts forecast that IQVIA Holdings Inc. will post 10.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on IQV shares. HSBC cut IQVIA from a "buy" rating to a "hold" rating and decreased their target price for the stock from $260.00 to $160.00 in a research note on Friday, April 25th. Barclays lifted their price objective on shares of IQVIA from $165.00 to $185.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 23rd. 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 report on Wednesday, July 23rd. JPMorgan Chase & Co. cut their price objective on shares of IQVIA from $232.00 to $177.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Finally, William Blair reaffirmed an "outperform" rating on shares of IQVIA in a research note on Wednesday, July 23rd. Seven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $228.62.

Insider Buying and Selling at IQVIA

In related news, insider Eric Sherbet sold 5,800 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 27,178 shares in the company, valued at approximately $5,165,178.90. The trade was a 17.59% 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 the SEC website. Also, insider Keriann Cherofsky sold 549 shares of the stock in a transaction 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 sale, the insider owned 2,910 shares of the company's stock, valued at approximately $557,352.30. This represents a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

IQVIA 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.