Sheets Smith Wealth Management Trims Stake in IQVIA Holdings Inc. (NYSE:IQV)

Sheets Smith Wealth Management lessened its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 50,880 shares of the medical research company’s stock after selling 445 shares during the period. IQVIA accounts for 1.4% of Sheets Smith Wealth Management’s holdings, making the stock its 14th biggest position. Sheets Smith Wealth Management’s holdings in IQVIA were worth $11,773,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. AdvisorNet Financial Inc boosted its holdings in IQVIA by 327.6% in the 4th quarter. AdvisorNet Financial Inc now owns 124 shares of the medical research company’s stock worth $29,000 after buying an additional 95 shares during the period. BKM Wealth Management LLC purchased a new stake in shares of IQVIA during the fourth quarter worth about $32,000. Activest Wealth Management bought a new stake in IQVIA during the 4th quarter valued at approximately $35,000. CVA Family Office LLC purchased a new position in IQVIA in the 4th quarter worth approximately $43,000. Finally, CoreFirst Bank & Trust bought a new position in IQVIA in the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.

Analyst Upgrades and Downgrades

IQV has been the topic of several research analyst reports. StockNews.com upgraded shares of IQVIA from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. Robert W. Baird cut their price target on IQVIA from $254.00 to $245.00 and set a “neutral” rating for the company in a report on Friday. Evercore ISI lowered their target price on IQVIA from $275.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday. Leerink Partnrs restated an “outperform” rating on shares of IQVIA in a report on Monday, February 26th. Finally, Barclays boosted their price objective on shares of IQVIA from $260.00 to $265.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, IQVIA currently has an average rating of “Moderate Buy” and an average price target of $257.57.

IQVIA Stock Up 0.6 %

NYSE:IQV traded up $1.23 during mid-day trading on Friday, reaching $223.37. The company’s stock had a trading volume of 1,052,929 shares, compared to its average volume of 831,136. The stock has a fifty day moving average of $244.08 and a 200-day moving average of $224.43. IQVIA Holdings Inc. has a 1 year low of $167.42 and a 1 year high of $261.73. The firm has a market capitalization of $40.54 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 2.16 and a beta of 1.52. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 2.02.

IQVIA (NYSE:IQV) last issued its quarterly earnings data on Wednesday, February 14th. The medical research company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.02. IQVIA had a return on equity of 29.17% and a net margin of 9.01%. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.80 billion. During the same period in the prior year, the business posted $2.54 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. Equities research analysts forecast that IQVIA Holdings Inc. will post 10.12 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Eric Sherbet sold 1,000 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $241.50, for a total value of $241,500.00. Following the transaction, the insider now directly owns 20,836 shares of the company’s stock, valued at approximately $5,031,894. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Ari Bousbib sold 31,678 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $250.53, for a total value of $7,936,289.34. Following the sale, the insider now directly owns 796,752 shares of the company’s stock, valued at approximately $199,610,278.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Sherbet sold 1,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $241.50, for a total transaction of $241,500.00. Following the transaction, the insider now directly owns 20,836 shares of the company’s stock, valued at approximately $5,031,894. The disclosure for this sale can be found here. Insiders have sold a total of 41,285 shares of company stock worth $10,331,003 in the last ninety days. 1.60% of the stock is owned by insiders.

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.