Mizuho Securities USA LLC Lowers Stock Position in IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• Mizuho Securities USA LLC reduced its holdings in IQVIA Holdings Inc. by 18.0%, now owning 13,395 shares valued at approximately $2.36 million.
• IQVIA has seen several analyst upgrades, with target prices raised by firms like Evercore ISI and Mizuho, indicating a consensus rating of "Moderate Buy" with a target price of about $228.62.
• The company reported strong earnings results, posting $2.81 EPS for the quarter, exceeding estimates and reflecting a year-over-year 5.3% revenue growth.

Mizuho Securities USA LLC decreased its holdings in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 18.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,395 shares of the medical research company's stock after selling 2,947 shares during the quarter. Mizuho Securities USA LLC's holdings in IQVIA were worth $2,362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sowell Financial Services LLC bought a new position in IQVIA in the first quarter worth $305,000. Mather Group LLC. raised its holdings in IQVIA by 83.5% in the first quarter. Mather Group LLC. now owns 769 shares of the medical research company's stock worth $136,000 after purchasing an additional 350 shares in the last quarter. Private Advisor Group LLC raised its holdings in IQVIA by 11.6% in the first quarter. Private Advisor Group LLC now owns 5,435 shares of the medical research company's stock worth $958,000 after purchasing an additional 566 shares in the last quarter. Park Avenue Securities LLC raised its holdings 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 worth $956,000 after purchasing an additional 1,562 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in IQVIA by 34.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,259 shares of the medical research company's stock worth $2,338,000 after purchasing an additional 3,398 shares in the last quarter. Hedge funds and other institutional investors own 89.62% of the company's stock.

Insider Activity

In other IQVIA news, insider Keriann Cherofsky sold 549 shares of the firm'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 transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric Sherbet sold 5,800 shares of the firm'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 completion of 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 disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.

IQVIA Stock Performance

NYSE:IQV traded down $0.73 on Thursday, hitting $189.50. The stock had a trading volume of 946,600 shares, compared to its average volume of 1,995,617. The stock has a market cap of $32.21 billion, a price-to-earnings ratio of 27.42, a price-to-earnings-growth ratio of 2.04 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. The business's 50-day simple moving average is $169.61 and its two-hundred day simple moving average is $168.92. IQVIA Holdings Inc. has a 52-week low of $134.65 and a 52-week high of $252.88.

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 (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.04. The business had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.96 billion. IQVIA had a return on equity of 30.05% and a net margin of 7.88%. The business's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $2.64 earnings per share. As a group, research analysts predict that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on IQV. Barclays raised their price target on IQVIA from $165.00 to $185.00 and gave the company an "equal weight" rating in a report on Wednesday, July 23rd. Cowen restated a "buy" rating on shares of IQVIA in a report on Wednesday, July 23rd. William Blair restated an "outperform" rating on shares of IQVIA in a report on Wednesday, July 23rd. Citigroup restated a "neutral" rating on shares of IQVIA in a report on Thursday, May 22nd. Finally, Mizuho raised their price target on IQVIA from $190.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Seven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, IQVIA currently has a consensus rating of "Moderate Buy" and a consensus 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.