Rafferty Asset Management LLC Decreases Position in IQVIA Holdings Inc. $IQV

Key Points

• Rafferty Asset Management LLC sold 4,978 shares of IQVIA Holdings Inc., reducing its stake by 24.3% to 15,488 shares, valued at approximately $2.73 million.
• Several institutional investors increased their holdings significantly, with Thematics Asset Management growing its stake by 3,991.5% to 15,875 shares and Jump Financial LLC increasing theirs by 717.6% to 59,200 shares.
• IQVIA reported a quarterly EPS of $2.81, surpassing expectations of $2.77, and its revenue grew 5.3% year-over-year to $4.02 billion.

Rafferty Asset Management LLC reduced its stake in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 24.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,488 shares of the medical research company's stock after selling 4,978 shares during the period. Rafferty Asset Management LLC's holdings in IQVIA were worth $2,731,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in shares of IQVIA by 45.7% during the 1st quarter. JPMorgan Chase & Co. now owns 2,545,014 shares of the medical research company's stock valued at $448,686,000 after acquiring an additional 798,534 shares during the period. American Century Companies Inc. boosted its holdings in IQVIA by 26.8% in the 1st quarter. American Century Companies Inc. now owns 1,438,995 shares of the medical research company's stock worth $253,695,000 after buying an additional 304,258 shares during the period. Dimensional Fund Advisors LP boosted its holdings in IQVIA by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,428,561 shares of the medical research company's stock worth $251,852,000 after buying an additional 40,699 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in IQVIA by 13.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,393,140 shares of the medical research company's stock worth $273,766,000 after buying an additional 167,057 shares during the period. Finally, Bank of America Corp DE boosted its holdings in IQVIA by 30.3% in the 4th quarter. Bank of America Corp DE now owns 1,255,535 shares of the medical research company's stock worth $246,725,000 after buying an additional 291,816 shares during the period. 89.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IQV has been the subject of several analyst reports. William Blair reaffirmed an "outperform" rating on shares of IQVIA in a report on Wednesday, July 23rd. Robert W. Baird raised their price objective on shares of IQVIA from $159.00 to $196.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Truist Financial raised their price objective on shares of IQVIA from $209.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Citigroup reaffirmed a "neutral" rating on shares of IQVIA in a report on Thursday, May 22nd. Finally, Redburn Partners set a $214.00 target price on shares of IQVIA in a research note on Wednesday. Seventeen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $229.86.

Insider Buying and Selling at IQVIA

In related 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 owned 2,910 shares in the company, valued at $557,352.30. This trade represents a 15.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Sherbet sold 5,800 shares of IQVIA stock in a transaction on 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 completion of 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 position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.

IQVIA Price Performance

Shares of IQVIA stock traded down $0.38 on Thursday, hitting $184.24. 1,240,372 shares of the company traded hands, compared to its average volume of 1,118,248. The firm's 50-day simple moving average is $179.28 and its 200 day simple moving average is $167.65. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.45. The company has a market cap of $31.32 billion, a P/E ratio of 26.66, a P/E/G ratio of 2.03 and a beta of 1.32. IQVIA Holdings Inc. has a 12-month low of $134.65 and a 12-month high of $249.54.

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. The firm had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.96 billion. IQVIA had a net margin of 7.88% and a return on equity of 30.05%. The business's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $2.64 EPS. 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 fiscal year.

IQVIA 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.