SVB Wealth LLC Sells 12,854 Shares of IQVIA Holdings Inc. (NYSE:IQV)

SVB Wealth LLC lessened its stake in IQVIA Holdings Inc. (NYSE:IQV) by 26.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 35,443 shares of the medical research company’s stock after selling 12,854 shares during the period. SVB Wealth LLC’s holdings in IQVIA were worth $8,201,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. First American Trust FSB boosted its holdings in IQVIA by 1.3% during the fourth quarter. First American Trust FSB now owns 35,198 shares of the medical research company’s stock valued at $8,144,000 after purchasing an additional 461 shares in the last quarter. Keel Point LLC acquired a new stake in IQVIA during the fourth quarter valued at approximately $233,000. Mackenzie Financial Corp boosted its holdings in IQVIA by 0.4% during the fourth quarter. Mackenzie Financial Corp now owns 41,728 shares of the medical research company’s stock valued at $9,655,000 after purchasing an additional 178 shares in the last quarter. Cullen Investment Group LTD. acquired a new stake in IQVIA during the fourth quarter valued at approximately $4,442,000. Finally, Strs Ohio boosted its holdings in IQVIA by 31.9% during the fourth quarter. Strs Ohio now owns 245,941 shares of the medical research company’s stock valued at $56,905,000 after purchasing an additional 59,470 shares in the last quarter. Institutional investors own 89.62% of the company’s stock.

IQVIA Price Performance

Shares of NYSE IQV opened at $229.20 on Wednesday. The firm has a market cap of $41.60 billion, a PE ratio of 31.44, a PEG ratio of 2.24 and a beta of 1.50. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 2.12. IQVIA Holdings Inc. has a 1-year low of $167.42 and a 1-year high of $261.73. The company has a fifty day moving average price of $244.16 and a 200 day moving average price of $221.33.

IQVIA (NYSE:IQV) last announced its earnings results 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 net margin of 9.06% and a return on equity of 29.32%. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.80 billion. During the same period in the prior year, the business earned $2.54 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Research analysts predict that IQVIA Holdings Inc. will post 10.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IQV. Robert W. Baird lifted their target price on shares of IQVIA from $226.00 to $251.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. StockNews.com upgraded shares of IQVIA from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Truist Financial lifted their target price on shares of IQVIA from $286.00 to $297.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Guggenheim cut shares of IQVIA from a “buy” rating to a “neutral” rating in a research report on Thursday, February 15th. Finally, Barclays upped their target price 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IQVIA currently has an average rating of “Moderate Buy” and an average price target of $256.80.

Insider Transactions at IQVIA

In other news, insider Kevin C. Knightly sold 8,607 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total value of $2,153,213.19. Following the sale, the insider now directly owns 5,251 shares of the company’s stock, valued at approximately $1,313,642.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other IQVIA news, insider Kevin C. Knightly sold 8,607 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total value of $2,153,213.19. Following the transaction, the insider now directly owns 5,251 shares of the company’s stock, valued at approximately $1,313,642.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ari Bousbib sold 31,678 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the transaction, the insider now owns 796,752 shares in the company, valued at approximately $199,610,278.56. The disclosure for this sale can be found here. Insiders sold a total of 41,285 shares of company stock worth $10,331,003 in the last three months. Insiders own 1.60% of the company’s stock.

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.