Ashton Thomas Private Wealth LLC Sells 657 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Ashton Thomas Private Wealth LLC lowered its holdings in IQVIA Holdings Inc. (NYSE:IQV) by 45.9% during the second quarter, HoldingsChannel.com reports. The fund owned 774 shares of the medical research company’s stock after selling 657 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in IQVIA were worth $164,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 9258 Wealth Management LLC lifted its position in shares of IQVIA by 35.9% during the 4th quarter. 9258 Wealth Management LLC now owns 2,915 shares of the medical research company’s stock worth $674,000 after buying an additional 770 shares during the period. Private Advisor Group LLC boosted its stake in shares of IQVIA by 8.2% in the 4th quarter. Private Advisor Group LLC now owns 5,215 shares of the medical research company’s stock valued at $1,207,000 after purchasing an additional 397 shares in the last quarter. AGF Management Ltd. grew its holdings in shares of IQVIA by 198.2% in the 4th quarter. AGF Management Ltd. now owns 4,714 shares of the medical research company’s stock worth $1,091,000 after purchasing an additional 3,133 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of IQVIA by 14.1% during the 4th quarter. QRG Capital Management Inc. now owns 4,879 shares of the medical research company’s stock worth $1,129,000 after purchasing an additional 603 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in IQVIA by 39.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,702 shares of the medical research company’s stock valued at $625,000 after buying an additional 766 shares in the last quarter. Institutional investors own 89.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. The Goldman Sachs Group began coverage on shares of IQVIA in a report on Thursday, June 6th. They set a “buy” rating and a $270.00 price objective for the company. StockNews.com upgraded IQVIA from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Morgan Stanley increased their target price on IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Royal Bank of Canada began coverage on IQVIA in a report on Wednesday, September 4th. They issued an “outperform” rating and a $275.00 price target for the company. Finally, Evercore ISI increased their price objective on shares of IQVIA from $230.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $266.67.

IQVIA Stock Performance

Shares of IQVIA stock opened at $238.40 on Friday. The firm has a fifty day moving average of $237.37 and a two-hundred day moving average of $234.53. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $43.44 billion, a price-to-earnings ratio of 32.57, a PEG ratio of 2.29 and a beta of 1.49. IQVIA Holdings Inc. has a 52 week low of $167.42 and a 52 week high of $261.73.

IQVIA (NYSE:IQV) last released its quarterly earnings data on Monday, July 22nd. The medical research company reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.07. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the prior year, the company posted $2.22 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that IQVIA Holdings Inc. will post 10.25 EPS for the current year.

Insider Buying and Selling

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total value of $320,229.00. Following the completion of the sale, the insider now owns 19,536 shares of the company’s stock, valued at $4,812,302.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is owned by insiders.

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.