Trillium Asset Management LLC Reduces Position in IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• Trillium Asset Management LLC significantly reduced its stake in IQVIA Holdings Inc. by 86.2%, now holding only 8,883 shares valued at approximately $1.57 million.
• Analysts have a consensus target price for IQVIA shares of $228.62, with 17 ratings for a "buy," indicating strong investor interest in the stock.
• IQVIA reported an earnings per share of $2.81 for the most recent quarter, exceeding expectations and showing a 5.3% year-over-year revenue increase.

Trillium Asset Management LLC trimmed its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 86.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,883 shares of the medical research company's stock after selling 55,382 shares during the quarter. Trillium Asset Management LLC's holdings in IQVIA were worth $1,566,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of IQV. American National Bank & Trust purchased a new stake in shares of IQVIA during the first quarter worth about $26,000. Golden State Wealth Management LLC increased its position in shares of IQVIA by 295.5% during the first quarter. Golden State Wealth Management LLC now owns 174 shares of the medical research company's stock worth $31,000 after acquiring an additional 130 shares during the last quarter. AllSquare Wealth Management LLC purchased a new stake in shares of IQVIA during the first quarter worth about $33,000. ST Germain D J Co. Inc. increased its position in shares of IQVIA by 66.1% during the first quarter. ST Germain D J Co. Inc. now owns 191 shares of the medical research company's stock worth $34,000 after acquiring an additional 76 shares during the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of IQVIA during the fourth quarter worth about $39,000. 89.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IQV shares. Robert W. Baird lifted their target price on IQVIA from $159.00 to $196.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Barclays boosted their price objective on IQVIA from $165.00 to $185.00 and gave the company an "equal weight" rating in a report on Wednesday, July 23rd. William Blair reissued an "outperform" rating on shares of IQVIA in a report on Wednesday, July 23rd. Redburn Partners set a $188.00 price objective on IQVIA in a report on Friday, May 23rd. Finally, Hsbc Global Res lowered IQVIA from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Seven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $228.62.

IQVIA Stock Performance

Shares of NYSE IQV opened at $186.12 on Wednesday. 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 stock has a 50 day simple moving average of $167.92 and a 200-day simple moving average of $168.89. The company has a market cap of $31.64 billion, a PE ratio of 26.93, a P/E/G ratio of 1.98 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.

IQVIA (NYSE:IQV - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share (EPS) 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 revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.64 earnings per share. On average, equities research analysts forecast that IQVIA Holdings Inc. will post 10.84 EPS for the current year.

Insider Activity at IQVIA

In other news, insider Keriann Cherofsky sold 549 shares of the business'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 in the company, valued at approximately $557,352.30. The trade was a 15.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

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.

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