LPL Financial LLC Acquires 5,615 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• LPL Financial LLC increased its stake in IQVIA Holdings by 5.8%, now holding 0.06% of the company valued at $18 million as of the latest SEC filing.
• Insider sales were reported, with Eric Sherbet selling 5,800 shares valued at over $1.1 million, resulting in a 17.59% decrease in his ownership.
• IQVIA's stock experienced a 3.5% decline to reach $177.41, with a recent earnings report showing an EPS of $2.81, beating expectations.

LPL Financial LLC raised its stake in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 5.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,121 shares of the medical research company's stock after purchasing an additional 5,615 shares during the quarter. LPL Financial LLC owned approximately 0.06% of IQVIA worth $18,004,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Sowell Financial Services LLC acquired a new stake in IQVIA during the 1st quarter valued at $305,000. Mather Group LLC. boosted its holdings in shares of 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 buying an additional 350 shares during the period. Park Avenue Securities LLC raised its stake in IQVIA by 40.4% in the first quarter. Park Avenue Securities LLC now owns 5,425 shares of the medical research company's stock valued at $956,000 after purchasing an additional 1,562 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of 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 period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of 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 buying an additional 3,398 shares during the last quarter. Institutional investors own 89.62% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target 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. UBS Group boosted their target price on IQVIA from $185.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Mizuho upped their price objective on IQVIA from $190.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Evercore ISI increased their price target on shares of IQVIA from $170.00 to $180.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Finally, Barclays lifted their price objective on shares of IQVIA from $165.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 23rd. Seven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $228.62.

IQVIA Stock Performance

Shares of NYSE IQV traded up $1.03 during trading on Friday, reaching $179.98. 875,191 shares of the company traded hands, compared to its average volume of 2,014,986. The firm has a 50 day simple moving average of $164.68 and a 200-day simple moving average of $169.75. IQVIA Holdings Inc. has a 52-week low of $134.65 and a 52-week high of $252.88. The stock has a market capitalization of $30.60 billion, a PE ratio of 26.05, a P/E/G ratio of 1.95 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 EPS for the quarter, topping the consensus estimate of $2.77 by $0.04. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.96 billion. IQVIA had a return on equity of 30.05% and a net margin of 7.88%. IQVIA's revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.64 EPS. Equities research analysts anticipate that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

Insider Activity

In other IQVIA news, insider Eric Sherbet sold 5,800 shares of IQVIA stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $190.05, for a total transaction of $1,102,290.00. Following the transaction, the insider owned 27,178 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 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 approximately $557,352.30. This trade 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 company insiders.

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.