Resona Asset Management Co. Ltd. Raises Position in IQVIA Holdings Inc. $IQV

Key Points

• Resona Asset Management Co. Ltd. increased its stake in IQVIA Holdings Inc. by 6.1%, acquiring an additional 3,366 shares, bringing its total holdings to 58,409 shares valued at approximately $10.3 million.
• Insiders have sold significant amounts of stock, with Keriann Cherofsky and Eric Sherbet reducing their shares by 15.87% and 17.59%, respectively, in transactions totaling over $1.2 million.
• Analysts are optimistic about IQVIA, with seventeen rating it a buy and the consensus target price rising to $228.62, driven by strong quarterly earnings exceeding expectations.

Resona Asset Management Co. Ltd. raised its position in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 6.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,409 shares of the medical research company's stock after buying an additional 3,366 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in IQVIA were worth $10,307,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of IQVIA by 244.4% during the fourth quarter. Brighton Jones LLC now owns 3,575 shares of the medical research company's stock worth $703,000 after purchasing an additional 2,537 shares during the period. Canada Post Corp Registered Pension Plan bought a new stake in shares of IQVIA during the 4th quarter valued at $572,000. Guggenheim Capital LLC increased its position in shares of IQVIA by 5.3% in the fourth quarter. Guggenheim Capital LLC now owns 22,552 shares of the medical research company's stock worth $4,432,000 after purchasing an additional 1,140 shares during the period. NFJ Investment Group LLC raised its stake in IQVIA by 20.5% in the fourth quarter. NFJ Investment Group LLC now owns 36,893 shares of the medical research company's stock valued at $7,250,000 after purchasing an additional 6,282 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in IQVIA by 85.4% during the fourth quarter. Marshall Wace LLP now owns 954,294 shares of the medical research company's stock worth $187,528,000 after purchasing an additional 439,649 shares during the period. Institutional investors own 89.62% of the company's stock.

Insider Activity at IQVIA

In other news, insider Eric Sherbet sold 5,800 shares of the firm's stock in a transaction that occurred 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 sale, the insider owned 27,178 shares of the company's stock, valued at $5,165,178.90. This trade represents a 17.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Keriann Cherofsky sold 549 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was 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 of the company's stock, valued at $557,352.30. The trade was a 15.87% 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 insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays boosted their target price on shares of IQVIA from $165.00 to $185.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 23rd. Robert W. Baird upped their target price on IQVIA from $159.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Hsbc Global Res lowered IQVIA from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. 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 research report on Monday, May 19th. Finally, UBS Group lifted their target price on IQVIA from $185.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $228.62.

IQVIA Trading Up 0.9%

IQVIA stock traded up $1.81 during mid-day trading on Monday, hitting $192.90. 554,938 shares of the stock were exchanged, compared to its average volume of 1,979,367. The stock has a market capitalization of $32.79 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 2.10 and a beta of 1.30. IQVIA Holdings Inc. has a 12 month low of $134.65 and a 12 month high of $252.88. 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's fifty day simple moving average is $170.40 and its two-hundred day simple moving average is $168.40.

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, topping analysts' consensus estimates of $2.77 by $0.04. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $2.64 earnings per share. Analysts forecast that IQVIA Holdings Inc. will post 10.84 EPS for the current 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.