Cigna Investments Inc. New Sells 65 Shares of IQVIA Holdings Inc. $IQV

Cigna Investments Inc. New trimmed its holdings in IQVIA Holdings Inc. (NYSE:IQV) by 3.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,745 shares of the medical research company’s stock after selling 65 shares during the quarter. Cigna Investments Inc. New’s holdings in IQVIA were worth $275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Bancorp lifted its stake in shares of IQVIA by 50.6% in the 2nd quarter. Fifth Third Bancorp now owns 24,116 shares of the medical research company’s stock valued at $3,800,000 after purchasing an additional 8,103 shares during the last quarter. Forte Capital LLC ADV raised its holdings in IQVIA by 0.3% during the second quarter. Forte Capital LLC ADV now owns 26,809 shares of the medical research company’s stock valued at $4,225,000 after buying an additional 92 shares in the last quarter. Oregon Pacific Wealth Management LLC boosted its stake in shares of IQVIA by 26.5% during the 2nd quarter. Oregon Pacific Wealth Management LLC now owns 3,109 shares of the medical research company’s stock worth $490,000 after acquiring an additional 652 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of IQVIA during the 2nd quarter valued at about $326,000. Finally, Leonard Rickey Investment Advisors P.L.L.C. raised its stake in shares of IQVIA by 12.4% in the 2nd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 1,505 shares of the medical research company’s stock valued at $237,000 after acquiring an additional 166 shares in the last quarter. Institutional investors own 89.62% of the company’s stock.

Wall Street Analysts Forecast Growth

IQV has been the subject of a number of recent analyst reports. Truist Financial upped their target price on IQVIA from $209.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Barclays boosted their price objective on shares of IQVIA from $165.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 23rd. Jefferies Financial Group upgraded shares of IQVIA from a “hold” rating to a “buy” rating and raised their target price for the company from $195.00 to $225.00 in a research note on Tuesday, September 9th. Cowen reissued a “buy” rating on shares of IQVIA in a research report on Wednesday, July 23rd. Finally, Robert W. Baird upped their price target on shares of IQVIA from $159.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Eighteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $229.64.

IQVIA Stock Down 2.5%

Shares of IQV opened at $176.72 on Friday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.84 and a current ratio of 0.84. The company has a 50-day simple moving average of $186.64 and a 200-day simple moving average of $167.31. IQVIA Holdings Inc. has a 52 week low of $134.65 and a 52 week high of $237.34. The firm has a market capitalization of $30.04 billion, a P/E ratio of 25.57, a P/E/G ratio of 1.99 and a beta of 1.32.

IQVIA (NYSE:IQV) last issued its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.04. IQVIA had a return on equity of 30.05% and a net margin of 7.88%.The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the company posted $2.64 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. 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 earnings per share for the current year.

Insiders Place Their Bets

In related news, 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 value 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 trade represents a 15.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Sherbet sold 5,800 shares of the business’s stock in a transaction 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 directly owned 27,178 shares in the company, valued at $5,165,178.90. This trade represents a 17.59% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

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.