QRG Capital Management Inc. Decreases Position in IQVIA Holdings Inc. $IQV

Key Points

• QRG Capital Management Inc. reduced its stake in IQVIA Holdings Inc. by 41.6% during the second quarter, now holding 4,904 shares valued at approximately $773,000.
• Insider sales occurred recently, with Keriann Cherofsky selling 549 shares and Eric Sherbet selling 5,800 shares, reflecting decreases in their ownership of IQVIA stock by 15.87% and 17.59%, respectively.
• IQVIA's quarterly earnings exceeded expectations, reporting $2.81 EPS against an estimate of $2.77, alongside revenues of $4.02 billion, reflecting a year-over-year growth of 5.3%.

QRG Capital Management Inc. lessened its holdings in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 41.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,904 shares of the medical research company's stock after selling 3,499 shares during the period. QRG Capital Management Inc.'s holdings in IQVIA were worth $773,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings 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 in the last quarter. Park Avenue Securities LLC raised its holdings in shares of IQVIA by 40.4% in the 1st quarter. Park Avenue Securities LLC now owns 5,425 shares of the medical research company's stock valued at $956,000 after purchasing an additional 1,562 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of IQVIA in the 1st quarter valued at $482,000. GAMMA Investing LLC raised its holdings in shares of IQVIA by 56.3% in the 1st quarter. GAMMA Investing LLC now owns 2,197 shares of the medical research company's stock valued at $387,000 after purchasing an additional 791 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of IQVIA by 55.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 397,772 shares of the medical research company's stock valued at $70,127,000 after purchasing an additional 142,170 shares in the last quarter. Hedge funds and other institutional investors own 89.62% of the company's stock.

Insiders Place Their Bets

In other IQVIA news, insider Keriann Cherofsky sold 549 shares of IQVIA stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $191.53, for a total value of $105,149.97. Following the transaction, the insider directly 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 SEC, which can be accessed through this hyperlink. Also, insider Eric Sherbet sold 5,800 shares of IQVIA stock in a transaction on Wednesday, July 23rd. The shares were 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 owned 27,178 shares in the company, valued at approximately $5,165,178.90. This represents a 17.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

IQVIA Trading Up 1.3%

NYSE IQV opened at $203.16 on Friday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $34.54 billion, a PE ratio of 29.40, a P/E/G ratio of 2.20 and a beta of 1.32. IQVIA Holdings Inc. has a one year low of $134.65 and a one year high of $237.34. The firm's fifty day moving average is $188.70 and its two-hundred day moving average is $168.15.

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 analysts' consensus estimates of $2.77 by $0.04. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.96 billion. IQVIA had a net margin of 7.88% and a return on equity of 30.05%. IQVIA's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.64 earnings per share. IQVIA has set its FY 2025 guidance at 11.750-12.050 EPS. Analysts expect that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group upgraded shares of IQVIA from a "hold" rating to a "buy" rating and raised their price objective for the company from $195.00 to $225.00 in a report on Tuesday, September 9th. Redburn Partners set a $214.00 price objective on shares of IQVIA in a report on Wednesday, September 3rd. Barclays raised their price objective on shares of IQVIA from $185.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday, October 2nd. Truist Financial lifted their price target on shares of IQVIA from $209.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Cowen reiterated a "buy" rating on shares of IQVIA in a research note on Wednesday, July 23rd. Nineteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $236.45.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.