SVB Wealth LLC Reduces Holdings in IQVIA Holdings Inc. $IQV

Key Points

• SVB Wealth LLC reduced its holdings in IQVIA Holdings Inc. by 52.3% during Q1 2023, bringing their total ownership to 12,241 shares valued at approximately $2.16 million.
• In addition to SVB, other large investors have also increased their positions in IQV, with ST Germain D J Co. Inc. significantly boosting its stake by 66.1%.
• IQVIA reported a quarterly earnings per share of $2.81, surpassing expectations, while analysts maintain a consensus price target of $228.62 for the stock.

SVB Wealth LLC lowered its position in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 52.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,241 shares of the medical research company's stock after selling 13,418 shares during the period. SVB Wealth LLC's holdings in IQVIA were worth $2,158,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Continuum Advisory LLC boosted its position in IQVIA by 3.7% in the fourth quarter. Continuum Advisory LLC now owns 1,803 shares of the medical research company's stock valued at $354,000 after buying an additional 64 shares during the last quarter. Ballentine Partners LLC boosted its position in IQVIA by 4.9% in the first quarter. Ballentine Partners LLC now owns 1,477 shares of the medical research company's stock valued at $260,000 after buying an additional 69 shares during the last quarter. Independent Advisor Alliance boosted its position in IQVIA by 4.2% in the first quarter. Independent Advisor Alliance now owns 1,801 shares of the medical research company's stock valued at $318,000 after buying an additional 72 shares during the last quarter. ST Germain D J Co. Inc. boosted its position in IQVIA by 66.1% in the first 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 last quarter. Finally, Nemes Rush Group LLC boosted its position in IQVIA by 15.0% in the first quarter. Nemes Rush Group LLC now owns 621 shares of the medical research company's stock valued at $109,000 after buying an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 89.62% of the company's stock.

Insider Activity at IQVIA

In other news, insider Keriann Cherofsky sold 549 shares of the company's stock in a transaction that occurred 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 transaction, the insider directly owned 2,910 shares of the company's stock, valued at $557,352.30. This represents a 15.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Eric Sherbet sold 5,800 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $190.05, for a total value of $1,102,290.00. Following the transaction, the insider directly owned 27,178 shares of the company's stock, valued at approximately $5,165,178.90. The trade was a 17.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

IQVIA Trading Up 3.0%

Shares of IQV stock opened at $190.9870 on Friday. 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 cap of $32.47 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 2.10 and a beta of 1.30. The stock has a 50 day simple moving average of $173.70 and a 200-day simple moving average of $168.26. 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 announced its earnings results on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 30.05% and a net margin of 7.88%.The business's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.64 EPS. IQVIA has set its FY 2025 guidance at 11.750-12.050 EPS. On average, equities research analysts expect that IQVIA Holdings Inc. will post 10.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Redburn Partners set a $188.00 target price on IQVIA in a research report on Friday, May 23rd. Cowen reissued a "buy" rating on shares of IQVIA in a report on Wednesday, July 23rd. JPMorgan Chase & Co. decreased their price target on IQVIA from $232.00 to $177.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Citigroup reissued a "neutral" rating on shares of IQVIA in a report on Thursday, May 22nd. Finally, Evercore ISI boosted their price target on IQVIA from $170.00 to $180.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Seventeen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, IQVIA presently has an average rating of "Moderate Buy" and a consensus price target of $228.62.

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.

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