Mutual of America Capital Management LLC Raises Position in IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• Mutual of America Capital Management LLC increased its holdings in IQVIA Holdings Inc. by 7.5%, acquiring an additional 2,405 shares, bringing its total to 34,435 shares valued at $6,071,000.
• Analyst ratings for IQVIA have varied, with HSBC downgrading the stock from "buy" to "hold", while other firms like Mizuho and Truist Financial raised their price targets, indicating a mixed outlook in the market.
• IQVIA reported quarterly earnings of $2.81 per share, surpassing estimates, with revenues of $4.02 billion, marking a 5.3% increase compared to the previous year.

Mutual of America Capital Management LLC raised its holdings in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 7.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,435 shares of the medical research company's stock after purchasing an additional 2,405 shares during the period. Mutual of America Capital Management LLC's holdings in IQVIA were worth $6,071,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Arizona State Retirement System raised its stake in IQVIA by 2.9% in the first quarter. Arizona State Retirement System now owns 53,265 shares of the medical research company's stock valued at $9,391,000 after purchasing an additional 1,492 shares in the last quarter. Ballentine Partners LLC increased its stake in shares of 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. Callahan Advisors LLC raised its stake in shares of IQVIA by 3.9% during the first quarter. Callahan Advisors LLC now owns 37,107 shares of the medical research company's stock valued at $6,542,000 after acquiring an additional 1,388 shares during the last quarter. Park Square Financial Group LLC lifted its holdings in IQVIA by 7,166.7% during the 1st quarter. Park Square Financial Group LLC now owns 436 shares of the medical research company's stock worth $77,000 after buying an additional 430 shares during the period. Finally, Cromwell Holdings LLC boosted its holdings in IQVIA by 69.8% in the first quarter. Cromwell Holdings LLC now owns 377 shares of the medical research company's stock valued at $66,000 after acquiring an additional 155 shares during the last quarter. Institutional investors and hedge funds own 89.62% of the company's stock.

Insider Activity

In related news, insider Keriann Cherofsky sold 549 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $191.53, for a total transaction of $105,149.97. Following the sale, the insider directly owned 2,910 shares in the company, valued at approximately $557,352.30. This represents a 15.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric Sherbet sold 5,800 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $190.05, for a total transaction of $1,102,290.00. Following the completion of the transaction, the insider directly owned 27,178 shares of the company's stock, valued at approximately $5,165,178.90. This trade represents 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

IQV traded up $1.03 during midday trading on Friday, reaching $179.98. The company had a trading volume of 877,737 shares, compared to its average volume of 2,400,431. IQVIA Holdings Inc. has a 12-month low of $134.65 and a 12-month high of $252.88. The business has a 50-day moving average price of $166.23 and a two-hundred day moving average price of $169.45. The stock has a market cap of $30.60 billion, a PE ratio of 26.05, a P/E/G ratio of 1.96 and a beta of 1.30. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.84 and a current ratio of 0.84.

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, 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 quarter in the prior year, the business earned $2.64 earnings per share. IQVIA's revenue for the quarter was up 5.3% on a year-over-year basis. On average, sell-side analysts expect that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IQV has been the subject of several research analyst reports. William Blair reiterated an "outperform" rating on shares of IQVIA in a research note on Wednesday, July 23rd. Hsbc Global Res downgraded shares of IQVIA from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. UBS Group upped their price objective on shares of IQVIA from $185.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. HSBC lowered shares of IQVIA from a "buy" rating to a "hold" rating and dropped their price objective for the company from $260.00 to $160.00 in a research note on Friday, April 25th. Finally, Robert W. Baird boosted their target price on shares of IQVIA from $159.00 to $196.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Seven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock 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.