Townsquare Capital LLC Has $1.30 Million Position in IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• Townsquare Capital LLC has reduced its stake in IQVIA Holdings Inc. by 26.0%, holding a total of 7,354 shares worth approximately $1.30 million as of its latest SEC filing.
• Insider Eric Sherbet sold 5,800 shares of IQVIA stock for about $1.1 million, resulting in a 17.59% decrease in their ownership position.
• Analysts have a consensus rating of "Moderate Buy" for IQVIA, with 17 buy ratings and a price target averaging $228.62.

Townsquare Capital LLC reduced its stake in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 26.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,354 shares of the medical research company's stock after selling 2,587 shares during the quarter. Townsquare Capital LLC's holdings in IQVIA were worth $1,296,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Continuum Advisory LLC boosted its holdings in shares of IQVIA by 3.7% during the fourth quarter. Continuum Advisory LLC now owns 1,803 shares of the medical research company's stock worth $354,000 after purchasing an additional 64 shares during the period. Ballentine Partners LLC lifted its stake 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 acquiring an additional 69 shares during the last quarter. ST Germain D J Co. Inc. lifted its stake 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 acquiring an additional 76 shares during the last quarter. Nemes Rush Group LLC lifted its stake 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 acquiring an additional 81 shares during the last quarter. Finally, Atria Wealth Solutions Inc. lifted its stake in IQVIA by 5.6% in the first quarter. Atria Wealth Solutions Inc. now owns 1,812 shares of the medical research company's stock valued at $319,000 after acquiring an additional 96 shares during the last quarter. 89.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at IQVIA

In other news, insider Eric Sherbet sold 5,800 shares of the firm's stock in a transaction dated 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 directly owned 27,178 shares of the company's stock, valued at approximately $5,165,178.90. This trade represents a 17.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Keriann Cherofsky sold 549 shares of IQVIA 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 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 ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on IQV shares. Truist Financial lifted their target price on shares of IQVIA from $209.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Cowen reiterated a "buy" rating on shares of IQVIA in a research note on Wednesday, July 23rd. Citigroup reiterated a "neutral" rating on shares of IQVIA in a research note on Thursday, May 22nd. JPMorgan Chase & Co. reduced their target price on shares of IQVIA from $232.00 to $177.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Finally, Mizuho boosted their price objective on shares of IQVIA from $190.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Seven investment 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 presently has an average rating of "Moderate Buy" and a consensus target price of $228.62.

IQVIA Price Performance

NYSE:IQV opened at $190.08 on Thursday. The company has a 50-day moving average of $168.77 and a 200-day moving average of $169.04. The company has a market capitalization of $32.31 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 2.04 and a beta of 1.30. IQVIA Holdings Inc. has a 52 week low of $134.65 and a 52 week high of $252.88. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.84 and a current ratio of 0.84.

IQVIA (NYSE:IQV - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $0.04. The company 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%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $2.64 EPS. As a group, equities research analysts anticipate 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.

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