New Age Alpha Advisors LLC Trims Stock Position in IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• New Age Alpha Advisors LLC reduced its stock position in IQVIA Holdings Inc. by 18.3%, selling 4,254 shares during the first quarter and now holding 18,974 shares valued at approximately $3.34 million.
• Several hedge funds increased their holdings in IQVIA, with ING Groep NV boosting their stake by 72.3% and Smithfield Trust Co increasing its stake by 112.8% during the same period.
• IQVIA reported quarterly earnings of $2.81 per share, exceeding estimates, with a total revenue of $4.02 billion, indicating a 5.3% year-over-year growth.

New Age Alpha Advisors LLC cut its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 18.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,974 shares of the medical research company's stock after selling 4,254 shares during the quarter. New Age Alpha Advisors LLC's holdings in IQVIA were worth $3,345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. ING Groep NV raised its stake in shares of IQVIA by 72.3% in the 1st quarter. ING Groep NV now owns 24,787 shares of the medical research company's stock valued at $4,370,000 after acquiring an additional 10,400 shares during the period. Smithfield Trust Co boosted its position in shares of IQVIA by 112.8% during the 1st quarter. Smithfield Trust Co now owns 583 shares of the medical research company's stock worth $103,000 after purchasing an additional 309 shares during the period. Blair William & Co. IL increased its holdings in IQVIA by 38.0% in the 1st quarter. Blair William & Co. IL now owns 7,925 shares of the medical research company's stock valued at $1,397,000 after purchasing an additional 2,183 shares during the last quarter. LGT Capital Partners LTD. lifted its stake in IQVIA by 40.9% during the first quarter. LGT Capital Partners LTD. now owns 105,800 shares of the medical research company's stock worth $18,653,000 after purchasing an additional 30,700 shares in the last quarter. Finally, Malaga Cove Capital LLC boosted its position in shares of IQVIA by 52.7% during the first quarter. Malaga Cove Capital LLC now owns 3,730 shares of the medical research company's stock worth $658,000 after buying an additional 1,288 shares during the period. 89.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IQV has been the topic of several research reports. JPMorgan Chase & Co. decreased their target price on IQVIA from $232.00 to $177.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Robert W. Baird increased their price target 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. Truist Financial lifted their price objective on shares of IQVIA from $209.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. William Blair reiterated an "outperform" rating on shares of IQVIA in a report on Wednesday, July 23rd. Finally, Redburn Partners set a $188.00 price target on shares of IQVIA in a research report on Friday, May 23rd. Seven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, IQVIA has an average rating of "Moderate Buy" and an average target price of $228.62.

IQVIA Stock Up 0.6%

IQV traded up $1.03 on Friday, reaching $179.98. The company's stock had a trading volume of 877,737 shares, compared to its average volume of 2,400,431. The company has a market capitalization of $30.60 billion, a price-to-earnings ratio of 26.05, a P/E/G ratio of 1.96 and a beta of 1.30. IQVIA Holdings Inc. has a fifty-two week low of $134.65 and a fifty-two week high of $252.88. 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 stock has a 50 day moving average of $166.23 and a two-hundred day moving average of $169.45.

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. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.96 billion. IQVIA had a net margin of 7.88% and a return on equity of 30.05%. The company's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.64 EPS. As a group, analysts forecast that IQVIA Holdings Inc. will post 10.84 EPS for the current fiscal year.

Insider Buying and Selling at IQVIA

In other news, insider Keriann Cherofsky sold 549 shares of IQVIA stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $191.53, for a total transaction of $105,149.97. Following the sale, the insider owned 2,910 shares in the company, valued at approximately $557,352.30. The trade was a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric Sherbet sold 5,800 shares of the company's stock in a transaction dated 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 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. Corporate insiders own 1.60% of the company's stock.

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.