ProVise Management Group LLC Reduces Position in IQVIA Holdings Inc. (NYSE:IQV)

ProVise Management Group LLC decreased its position in IQVIA Holdings Inc. (NYSE:IQV) by 4.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,390 shares of the medical research company’s stock after selling 114 shares during the period. ProVise Management Group LLC’s holdings in IQVIA were worth $505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IQV. 9258 Wealth Management LLC increased its holdings in IQVIA by 35.9% in the 4th quarter. 9258 Wealth Management LLC now owns 2,915 shares of the medical research company’s stock worth $674,000 after buying an additional 770 shares during the period. Gladstone Institutional Advisory LLC increased its stake in shares of IQVIA by 5.7% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 1,667 shares of the medical research company’s stock worth $386,000 after acquiring an additional 90 shares during the period. Quest Partners LLC acquired a new position in IQVIA during the fourth quarter valued at $182,000. US Bancorp DE boosted its holdings in IQVIA by 0.6% in the fourth quarter. US Bancorp DE now owns 18,533 shares of the medical research company’s stock valued at $4,288,000 after purchasing an additional 117 shares during the last quarter. Finally, Team Hewins LLC purchased a new position in shares of IQVIA during the 4th quarter valued at about $214,000. Institutional investors and hedge funds own 89.62% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Robert W. Baird raised their target price on IQVIA from $251.00 to $256.00 and gave the stock a “neutral” rating in a report on Friday. Barclays lifted their target price on shares of IQVIA from $255.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Royal Bank of Canada assumed coverage on shares of IQVIA in a report on Wednesday, September 4th. They set an “outperform” rating and a $275.00 price target on the stock. UBS Group upped their price objective on shares of IQVIA from $295.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Evercore ISI raised their target price on IQVIA from $230.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, IQVIA has a consensus rating of “Moderate Buy” and a consensus price target of $267.00.

Insider Activity

In related news, insider Eric Sherbet sold 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total value of $320,229.00. Following the transaction, the insider now directly owns 19,536 shares in the company, valued at $4,812,302.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

IQVIA Price Performance

IQVIA stock opened at $242.24 on Friday. The company has a fifty day simple moving average of $240.60 and a 200-day simple moving average of $234.19. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $44.16 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.25 and a beta of 1.49. IQVIA Holdings Inc. has a 52-week low of $167.42 and a 52-week high of $261.73.

IQVIA (NYSE:IQV) last released its earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.07. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.79 billion. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $2.22 EPS. On average, equities analysts anticipate that IQVIA Holdings Inc. will post 10.25 EPS for the current fiscal year.

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.