ProVise Management Group LLC Reduces Position in IQVIA Holdings Inc. (NYSE:IQV)

ProVise Management Group LLC cut its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 4.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,318 shares of the medical research company’s stock after selling 114 shares during the quarter. ProVise Management Group LLC’s holdings in IQVIA were worth $536,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC lifted its holdings 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 buying an additional 17,677 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of IQVIA by 4.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,418,392 shares of the medical research company’s stock worth $532,070,000 after buying an additional 93,194 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of IQVIA in the fourth quarter worth about $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 worth $41,345,000 after buying an additional 7,050 shares in the last quarter. Finally, Principal Securities Inc. purchased a new stake in shares of IQVIA in the fourth quarter worth about $4,976,000. 89.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 completion of the sale, the insider now owns 796,752 shares of the company’s stock, valued at $199,610,278.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, 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 completion of the sale, the insider now owns 796,752 shares of the company’s stock, valued at $199,610,278.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kevin C. Knightly sold 8,607 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $250.17, for a total value of $2,153,213.19. Following the completion of the sale, the insider now directly owns 5,251 shares of the company’s stock, valued at approximately $1,313,642.67. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on IQV shares. Guggenheim downgraded shares of IQVIA from a “buy” rating to a “neutral” rating in a report on Thursday, February 15th. Leerink Partnrs restated an “outperform” rating on shares of IQVIA in a research report on Monday, February 26th. 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 decreased their price objective on shares of IQVIA from $254.00 to $245.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Finally, BTIG Research assumed coverage on shares of IQVIA in a research report on Tuesday, February 13th. They issued a “buy” rating and a $285.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $257.57.

IQVIA Price Performance

NYSE IQV traded up $2.51 on Friday, reaching $229.60. 751,380 shares of the company’s stock traded hands, compared to its average volume of 893,862. IQVIA Holdings Inc. has a 12 month low of $167.42 and a 12 month high of $261.73. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a 50-day simple moving average of $237.13 and a 200 day simple moving average of $228.73. The stock has a market cap of $41.83 billion, a PE ratio of 31.37, a P/E/G ratio of 2.09 and a beta of 1.52.

IQVIA (NYSE:IQV) last released its quarterly earnings data on Thursday, May 2nd. The medical research company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.11. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. IQVIA had a return on equity of 29.17% and a net margin of 9.01%. As a group, research analysts predict that IQVIA Holdings Inc. will post 10.11 earnings per share for the current year.

About IQVIA

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.