Primecap Management Co. CA Boosts Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• Primecap Management Co. CA increased its stake in IQVIA Holdings Inc. by 0.6%, acquiring an additional 1,890 shares, now owning 296,879 shares valued at approximately $52.34 million.
• Insider Eric Sherbet sold 5,800 shares at an average price of $190.05, reflecting a 17.59% decrease in his ownership, while another insider sold 549 shares.
• Wall Street analysts have an average price target of $228.62 for IQVIA, with a notable "Moderate Buy" rating, suggesting a general positive outlook despite some recent downgrades in target prices.

Primecap Management Co. CA increased its stake in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,879 shares of the medical research company's stock after buying an additional 1,890 shares during the quarter. Primecap Management Co. CA owned about 0.17% of IQVIA worth $52,340,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in IQV. Brighton Jones LLC increased its stake in shares of IQVIA by 244.4% in the 4th quarter. Brighton Jones LLC now owns 3,575 shares of the medical research company's stock valued at $703,000 after purchasing an additional 2,537 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of IQVIA by 12.7% in the fourth quarter. Wellington Management Group LLP now owns 9,791 shares of the medical research company's stock worth $1,924,000 after purchasing an additional 1,106 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of IQVIA by 9.4% in the fourth quarter. Russell Investments Group Ltd. now owns 129,841 shares of the medical research company's stock valued at $25,548,000 after buying an additional 11,119 shares during the period. Quadrant Capital Group LLC increased its position in IQVIA by 10.7% during the 4th quarter. Quadrant Capital Group LLC now owns 928 shares of the medical research company's stock valued at $182,000 after purchasing an additional 90 shares during the period. Finally, Invesco Ltd. raised its stake in IQVIA by 53.4% during the fourth quarter. Invesco Ltd. now owns 2,590,260 shares of the medical research company's stock worth $509,012,000 after buying an additional 902,226 shares during the last quarter. Institutional investors own 89.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. UBS Group boosted their price target on IQVIA from $185.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Truist Financial boosted their price objective on IQVIA from $209.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Hsbc Global Res downgraded shares of IQVIA from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Redburn Partners set a $188.00 price target on IQVIA in a report on Friday, May 23rd. Finally, Citigroup reiterated a "neutral" rating on shares of IQVIA in a research note on Thursday, May 22nd. Seven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $228.62.

Insider Buying and Selling at IQVIA

In other IQVIA news, insider Keriann Cherofsky sold 549 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were 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 in the company, valued at $557,352.30. This represents a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 value of $1,102,290.00. Following the transaction, the insider owned 27,178 shares in the company, valued at approximately $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. 1.60% of the stock is currently owned by company insiders.

IQVIA Price Performance

NYSE:IQV traded up $1.03 during trading hours on Friday, hitting $179.98. 877,737 shares of the company's stock traded hands, compared to its average volume of 2,400,431. IQVIA Holdings Inc. has a 52 week low of $134.65 and a 52 week high of $252.88. The business's fifty day simple moving average is $166.23 and its two-hundred day simple moving average is $169.45. 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 firm has a market cap of $30.60 billion, a P/E ratio of 26.05, a P/E/G ratio of 1.96 and a beta of 1.30.

IQVIA (NYSE:IQV - Get Free Report) last released its earnings results on Tuesday, July 22nd. The medical research company reported $2.81 EPS for the quarter, beating analysts' consensus estimates 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 firm's revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.64 earnings per share. On average, research analysts anticipate that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal year.

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.