Power Wealth Management LLC Invests $578,000 in IQVIA Holdings Inc. (NYSE:IQV)

Power Wealth Management LLC purchased a new stake in shares of IQVIA Holdings Inc. (NYSE:IQV) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,497 shares of the medical research company’s stock, valued at approximately $578,000.

A number of other hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management LLC increased its position in shares of IQVIA by 17.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 118,616 shares of the medical research company’s stock worth $27,445,000 after acquiring an additional 17,677 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in IQVIA during the 4th quarter valued at $13,759,000. Schwartz Investment Counsel Inc. lifted its holdings in shares of IQVIA by 4.1% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 178,690 shares of the medical research company’s stock valued at $41,345,000 after purchasing an additional 7,050 shares in the last quarter. Gilliland Jeter Wealth Management LLC acquired a new stake in shares of IQVIA in the fourth quarter worth $986,000. Finally, Dfpg Investments LLC purchased a new position in shares of IQVIA during the fourth quarter valued at $1,106,000. 89.62% of the stock is owned by institutional investors and hedge funds.

IQVIA Stock Performance

IQV traded up $1.23 during trading on Friday, hitting $223.37. The stock had a trading volume of 1,052,929 shares, compared to its average volume of 831,136. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 2.02. IQVIA Holdings Inc. has a 12 month low of $167.42 and a 12 month high of $261.73. The company has a 50 day simple moving average of $244.08 and a 200-day simple moving average of $224.01. The firm has a market cap of $40.54 billion, a PE ratio of 30.52, a P/E/G ratio of 2.16 and a beta of 1.52.

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

Wall Street Analyst Weigh In

IQV has been the topic of several research analyst reports. UBS Group lifted their target price on IQVIA from $240.00 to $300.00 and gave the company a “buy” 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 report on Friday, February 16th. Truist Financial cut their price objective on IQVIA from $297.00 to $292.00 and set a “buy” rating for the company in a report on Friday. Robert W. Baird lowered their target price on IQVIA from $254.00 to $245.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of IQVIA in a research note on Monday, February 26th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $257.57.

Insider Buying and Selling

In related news, insider Eric Sherbet sold 1,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $241.50, for a total value of $241,500.00. Following the completion of the sale, the insider now owns 20,836 shares in the company, valued at $5,031,894. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 completion of the transaction, the insider now directly owns 20,836 shares in the company, valued at $5,031,894. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ari Bousbib sold 31,678 shares of IQVIA stock in a transaction 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 sale, 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. Over the last quarter, insiders have sold 41,285 shares of company stock valued at $10,331,003. 1.60% of the stock is owned by company 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.