Gradient Investments LLC Lowers Stock Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Gradient Investments LLC lowered its holdings in IQVIA Holdings Inc. (NYSE:IQV – Get Rating) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,763 shares of the medical research company’s stock after selling 1,549 shares during the period. Gradient Investments LLC’s holdings in IQVIA were worth $9,581,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bishop Rock Capital L.P. boosted its holdings in IQVIA by 14,549.4% in the second quarter. Bishop Rock Capital L.P. now owns 4,050,552 shares of the medical research company’s stock valued at $18,667,000 after acquiring an additional 4,022,902 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in IQVIA by 1,170.9% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,364,641 shares of the medical research company’s stock valued at $247,191,000 after buying an additional 1,257,263 shares during the last quarter. Alliancebernstein L.P. increased its holdings in IQVIA by 20.1% in the third quarter. Alliancebernstein L.P. now owns 5,157,158 shares of the medical research company’s stock valued at $934,167,000 after buying an additional 862,222 shares during the last quarter. Marshall Wace LLP increased its holdings in IQVIA by 570.5% in the third quarter. Marshall Wace LLP now owns 417,789 shares of the medical research company’s stock valued at $75,678,000 after buying an additional 355,482 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of IQVIA by 3.8% during the second quarter. State Street Corp now owns 8,622,096 shares of the medical research company’s stock valued at $1,870,909,000 after purchasing an additional 315,751 shares during the last quarter. Hedge funds and other institutional investors own 86.20% of the company’s stock.

Insider Activity

In other news, insider Kevin C. Knightly sold 4,446 shares of the stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $225.61, for a total value of $1,003,062.06. Following the completion of the sale, the insider now owns 1,973 shares in the company, valued at $445,128.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Eric Sherbet sold 1,000 shares of the company’s stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the transaction, the insider now directly owns 17,053 shares of the company’s stock, valued at $3,922,190. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin C. Knightly sold 4,446 shares of the company’s stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $225.61, for a total transaction of $1,003,062.06. Following the completion of the transaction, the insider now directly owns 1,973 shares in the company, valued at $445,128.53. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

IQVIA Price Performance

Shares of NYSE:IQV opened at $190.89 on Friday. IQVIA Holdings Inc. has a one year low of $165.75 and a one year high of $254.94. The stock has a fifty day moving average of $218.94 and a 200-day moving average of $208.72. The company has a market capitalization of $35.53 billion, a PE ratio of 33.43, a price-to-earnings-growth ratio of 1.97 and a beta of 1.40. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.89 and a current ratio of 0.89.

IQVIA (NYSE:IQV – Get Rating) last announced its quarterly earnings data on Friday, February 10th. The medical research company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.02. IQVIA had a return on equity of 31.88% and a net margin of 7.57%. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the firm earned $2.42 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that IQVIA Holdings Inc. will post 9.46 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Credit Suisse Group reaffirmed an “outperform” rating and set a $265.00 target price on shares of IQVIA in a report on Monday, February 13th. Truist Financial began coverage on IQVIA in a report on Friday. They set a “buy” rating and a $265.00 target price for the company. StockNews.com began coverage on IQVIA in a report on Thursday. They issued a “hold” rating for the company. Robert W. Baird decreased their price objective on IQVIA from $266.00 to $260.00 and set an “outperform” rating for the company in a report on Friday, January 13th. Finally, Cowen began coverage on IQVIA in a report on Tuesday, December 6th. They issued an “outperform” rating and a $251.00 price objective for the company. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $256.81.

About IQVIA

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IQVIA Holdings, Inc engages in the provision of analytics, technology solutions, and clinical research services to the life sciences industry. It operates through the following segments: Technology and Analytics Solutions, Research and Development Solutions, and Contract Sales and Medical Solutions. The Technology and Analytics Solutions segment supplies mission critical information, technology solutions, and real-world solutions and services to the firm’s life science clients.