IQVIA Holdings Inc. $IQV Shares Sold by Parnassus Investments LLC

Key Points

• Parnassus Investments LLC has reduced its stake in IQVIA Holdings Inc. by 7.8%, currently holding 308,267 shares worth approximately $54.35 million.
• Several hedge funds, including Brighton Jones LLC and AQR Capital Management LLC, have significantly increased their holdings in IQVIA, demonstrating strong institutional interest with 89.62% of the stock owned by institutional investors.
• IQVIA reported strong quarterly earnings of $2.81 EPS beating estimates, with a revenue increase of 5.3% year-over-year, and analysts maintain an overall rating of "Moderate Buy" for the stock.

Parnassus Investments LLC decreased its position in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 308,267 shares of the medical research company's stock after selling 25,911 shares during the quarter. Parnassus Investments LLC owned approximately 0.18% of IQVIA worth $54,347,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in IQVIA by 244.4% during the 4th quarter. Brighton Jones LLC now owns 3,575 shares of the medical research company's stock worth $703,000 after acquiring an additional 2,537 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of IQVIA by 25.8% during the fourth quarter. Integrated Wealth Concepts LLC now owns 2,761 shares of the medical research company's stock worth $543,000 after purchasing an additional 566 shares in the last quarter. Northern Trust Corp boosted its stake in shares of IQVIA by 16.2% in the fourth quarter. Northern Trust Corp now owns 1,791,229 shares of the medical research company's stock valued at $351,994,000 after purchasing an additional 250,141 shares during the period. Lido Advisors LLC grew its holdings in shares of IQVIA by 9.4% in the fourth quarter. Lido Advisors LLC now owns 4,494 shares of the medical research company's stock valued at $883,000 after purchasing an additional 388 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in IQVIA by 125.3% during the 4th quarter. AQR Capital Management LLC now owns 427,244 shares of the medical research company's stock worth $83,958,000 after buying an additional 237,597 shares during the period. Hedge funds and other institutional investors own 89.62% of the company's stock.

Insider Buying and Selling at IQVIA

In related news, insider Eric Sherbet sold 5,800 shares of IQVIA stock in a transaction that occurred on 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Keriann Cherofsky sold 549 shares of the business's 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 sale, the insider owned 2,910 shares in the company, valued at $557,352.30. The trade was 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 Stock Performance

NYSE:IQV traded down $7.04 during mid-day trading on Tuesday, reaching $183.77. 1,213,921 shares of the stock were exchanged, compared to its average volume of 1,934,176. The stock has a market capitalization of $31.24 billion, a P/E ratio of 26.59, a P/E/G ratio of 2.09 and a beta of 1.32. IQVIA Holdings Inc. has a 1 year low of $134.65 and a 1 year high of $252.69. The company has a 50 day simple moving average of $177.74 and a 200-day simple moving average of $167.49. 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 earnings per share 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 during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the company earned $2.64 earnings per share. The company's revenue was up 5.3% compared to the same quarter last year. IQVIA has set its FY 2025 guidance at 11.750-12.050 EPS. Analysts anticipate that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Cowen reissued a "buy" rating on shares of IQVIA in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lowered their target price on IQVIA from $232.00 to $177.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Truist Financial lifted their price objective on IQVIA from $209.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Robert W. Baird upped their target price on shares of IQVIA from $159.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Redburn Partners set a $188.00 price target on shares of IQVIA in a research note on Friday, May 23rd. Seventeen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $228.62.

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.