Raymond James Financial Inc. Lowers Stock Holdings in IQVIA Holdings Inc. $IQV

Key Points

• Raymond James Financial Inc. reduced its stake in IQVIA Holdings Inc. by 2.8%, owning 1,167,561 shares worth approximately $205.84 million after selling 34,006 shares in the 1st quarter.
• IQVIA reported earnings of $2.81 per share in the last quarter, exceeding analysts' expectations, with revenues reaching $4.02 billion, marking a year-over-year increase of 5.3%.
• The stock currently has a consensus rating of "Moderate Buy" among analysts, with a target price of $228.62, while IQVIA shares opened at $191.18 on Monday.

Raymond James Financial Inc. cut its stake in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 2.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,167,561 shares of the medical research company's stock after selling 34,006 shares during the period. Raymond James Financial Inc. owned 0.67% of IQVIA worth $205,841,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in IQV. American National Bank & Trust purchased a new stake in shares of IQVIA during the 1st quarter valued at $26,000. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of IQVIA by 436.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 161 shares of the medical research company's stock valued at $28,000 after buying an additional 131 shares during the period. Golden State Wealth Management LLC grew its stake in shares of IQVIA by 295.5% during the 1st quarter. Golden State Wealth Management LLC now owns 174 shares of the medical research company's stock valued at $31,000 after buying an additional 130 shares during the period. AllSquare Wealth Management LLC purchased a new stake in shares of IQVIA during the 1st quarter valued at $33,000. Finally, ST Germain D J Co. Inc. grew its stake in shares of IQVIA by 66.1% during the 1st quarter. ST Germain D J Co. Inc. now owns 191 shares of the medical research company's stock valued at $34,000 after buying an additional 76 shares during the period. 89.62% of the stock is owned by hedge funds and other institutional investors.

IQVIA Stock Up 0.9%

Shares of IQVIA stock opened at $191.18 on Monday. The business has a 50-day moving average of $170.40 and a 200-day moving average of $168.40. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $32.50 billion, a PE ratio of 27.67, a P/E/G ratio of 2.10 and a beta of 1.30. IQVIA Holdings Inc. has a 1-year low of $134.65 and a 1-year high of $252.88.

IQVIA (NYSE:IQV - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share (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 analyst estimates of $3.96 billion. IQVIA had a net margin of 7.88% and a return on equity of 30.05%. The company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.64 EPS. As a group, equities analysts forecast that IQVIA Holdings Inc. will post 10.84 EPS for the current fiscal year.

Insider Transactions at IQVIA

In other news, insider Eric Sherbet sold 5,800 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $190.05, for a total value of $1,102,290.00. Following the sale, the insider owned 27,178 shares in the company, valued at approximately $5,165,178.90. This represents a 17.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 owned 2,910 shares in the company, valued at approximately $557,352.30. This trade represents a 15.87% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

Analyst Ratings Changes

IQV has been the subject of several research reports. Redburn Partners set a $188.00 price objective on shares of IQVIA in a research note on Friday, May 23rd. Citigroup restated a "neutral" rating on shares of IQVIA in a report on Thursday, May 22nd. Barclays upped their price target on shares of IQVIA from $165.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 23rd. Evercore ISI upped their price target on shares of IQVIA from $170.00 to $180.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Finally, Hsbc Global Res cut shares of IQVIA from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Seven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $228.62.

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.

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