IQVIA Holdings Inc. (NYSE:IQV) Position Lowered by Prudential PLC

Key Points

• Prudential PLC reduced its stake in IQVIA Holdings Inc. by 28.7% in the first quarter, holding 41,747 shares worth approximately $7.36 million after selling 16,776 shares.
• IQVIA reported earnings of $2.81 per share in its latest quarter, surpassing analysts' expectations by $0.04 and showing year-over-year revenue growth of 5.3%.
• Analysts have varied views on IQV, with a current consensus rating of "Moderate Buy" and an average price target of $228.62 following recent upgrades and downgrades from several firms.

Prudential PLC lowered its stake in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 28.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,747 shares of the medical research company's stock after selling 16,776 shares during the quarter. Prudential PLC's holdings in IQVIA were worth $7,360,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd raised its holdings in IQVIA by 436.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 161 shares of the medical research company's stock valued at $28,000 after acquiring an additional 131 shares during the last quarter. Resona Asset Management Co. Ltd. raised its holdings in IQVIA by 6.1% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 58,409 shares of the medical research company's stock valued at $10,307,000 after acquiring an additional 3,366 shares during the last quarter. Trajan Wealth LLC raised its holdings in IQVIA by 0.5% in the 1st quarter. Trajan Wealth LLC now owns 80,632 shares of the medical research company's stock valued at $14,215,000 after acquiring an additional 430 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in IQVIA by 3.5% in the 1st quarter. Public Sector Pension Investment Board now owns 21,112 shares of the medical research company's stock valued at $3,722,000 after acquiring an additional 717 shares during the last quarter. Finally, Independent Advisor Alliance raised its holdings in IQVIA by 4.2% in the 1st quarter. Independent Advisor Alliance now owns 1,801 shares of the medical research company's stock valued at $318,000 after acquiring an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 89.62% of the company's stock.

IQVIA Stock Down 0.4%

Shares of IQVIA stock traded down $0.73 during trading hours on Thursday, hitting $189.50. 946,600 shares of the company's stock traded hands, compared to its average volume of 2,329,300. The stock has a 50 day simple moving average of $169.61 and a 200-day simple moving average of $168.92. 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 company has a market cap of $32.21 billion, a PE ratio of 27.42, a PEG ratio of 2.09 and a beta of 1.30. IQVIA Holdings Inc. has a twelve month low of $134.65 and a twelve month 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 for the quarter, beating the consensus estimate of $2.77 by $0.04. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.96 billion. IQVIA had a return on equity of 30.05% and a net margin of 7.88%. The company's revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $2.64 earnings per share. Equities research analysts anticipate that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Keriann Cherofsky sold 549 shares of the 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 transaction, the insider 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 stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on IQV. William Blair reiterated an "outperform" rating on shares of IQVIA in a report on Wednesday, July 23rd. HSBC downgraded IQVIA from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $260.00 to $160.00 in a report on Friday, April 25th. Redburn Partners set a $188.00 price objective on IQVIA in a report on Friday, May 23rd. JPMorgan Chase & Co. dropped their price objective on IQVIA from $232.00 to $177.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Finally, Barclays upped their price objective on IQVIA from $165.00 to $185.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 23rd. Seven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, IQVIA has a consensus 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.