Envestnet Asset Management Inc. Trims Stake in IQVIA Holdings Inc. (NYSE:IQV)

Envestnet Asset Management Inc. lessened its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 30.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 416,511 shares of the medical research company’s stock after selling 184,941 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.23% of IQVIA worth $81,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of IQV. Benjamin Edwards Inc. purchased a new stake in IQVIA in the third quarter worth about $261,000. Orion Portfolio Solutions LLC increased its holdings in IQVIA by 2.3% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 16,319 shares of the medical research company’s stock worth $3,867,000 after acquiring an additional 364 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in IQVIA by 7.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 54,164 shares of the medical research company’s stock worth $12,835,000 after acquiring an additional 3,872 shares during the period. Continuum Advisory LLC lifted its holdings in IQVIA by 13.1% during the third quarter. Continuum Advisory LLC now owns 1,739 shares of the medical research company’s stock valued at $412,000 after purchasing an additional 201 shares in the last quarter. Finally, MidWestOne Financial Group Inc. boosted its position in shares of IQVIA by 5.1% in the third quarter. MidWestOne Financial Group Inc. now owns 4,786 shares of the medical research company’s stock worth $1,134,000 after purchasing an additional 232 shares during the period. Institutional investors own 89.62% of the company’s stock.

Analysts Set New Price Targets

IQV has been the topic of a number of analyst reports. Truist Financial restated a “buy” rating and set a $263.00 target price (up previously from $261.00) on shares of IQVIA in a research note on Monday, February 10th. Morgan Stanley upped their price objective on IQVIA from $245.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. BTIG Research downgraded IQVIA from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $270.00 price objective on shares of IQVIA in a report on Monday, February 10th. Finally, Bank of America lowered their target price on shares of IQVIA from $255.00 to $235.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $249.05.

IQVIA Price Performance

IQV stock opened at $143.98 on Wednesday. The stock has a market cap of $25.38 billion, a PE ratio of 19.20, a P/E/G ratio of 1.99 and a beta of 1.46. IQVIA Holdings Inc. has a 12 month low of $142.57 and a 12 month high of $252.88. The company has a 50-day moving average price of $186.31 and a 200 day moving average price of $201.80. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.12.

IQVIA (NYSE:IQV) last posted its quarterly earnings results on Thursday, February 6th. The medical research company reported $2.90 EPS for the quarter, missing analysts’ consensus estimates of $3.11 by ($0.21). IQVIA had a return on equity of 28.81% and a net margin of 8.91%. Equities research analysts anticipate that IQVIA Holdings Inc. will post 10.84 earnings per share for the current 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.