Envestnet Asset Management Inc. Decreases Stock Position in IQVIA Holdings Inc. (NYSE:IQV)

Envestnet Asset Management Inc. reduced its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 555,185 shares of the medical research company’s stock after selling 30,221 shares during the quarter. Envestnet Asset Management Inc.’s holdings in IQVIA were worth $117,388,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. First Foundation Advisors increased its stake in shares of IQVIA by 3.8% during the 2nd quarter. First Foundation Advisors now owns 1,161 shares of the medical research company’s stock worth $245,000 after purchasing an additional 43 shares in the last quarter. Team Hewins LLC lifted its position in shares of IQVIA by 5.0% in the first quarter. Team Hewins LLC now owns 973 shares of the medical research company’s stock valued at $246,000 after acquiring an additional 46 shares in the last quarter. Invera Wealth Advisors LLC boosted its stake in shares of IQVIA by 0.3% during the second quarter. Invera Wealth Advisors LLC now owns 14,506 shares of the medical research company’s stock valued at $3,183,000 after acquiring an additional 46 shares during the last quarter. Covestor Ltd increased its position in IQVIA by 45.3% during the 1st quarter. Covestor Ltd now owns 154 shares of the medical research company’s stock worth $39,000 after purchasing an additional 48 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in IQVIA by 0.3% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 15,668 shares of the medical research company’s stock valued at $3,313,000 after purchasing an additional 48 shares during the last quarter. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

IQVIA Stock Performance

NYSE:IQV opened at $239.38 on Tuesday. IQVIA Holdings Inc. has a twelve month low of $167.42 and a twelve month high of $261.73. The firm has a market capitalization of $43.64 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 2.24 and a beta of 1.49. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.80. The firm’s fifty day simple moving average is $238.59 and its 200 day simple moving average is $234.21.

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

Analyst Upgrades and Downgrades

IQV has been the topic of several analyst reports. Argus raised shares of IQVIA to a “strong-buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada began coverage on shares of IQVIA in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $275.00 target price for the company. Robert W. Baird increased their price target on IQVIA from $235.00 to $251.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. upped their target price on IQVIA from $260.00 to $288.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Morgan Stanley raised their price target on IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, IQVIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.67.

Insider Buying and Selling at IQVIA

In other news, insider Eric Sherbet sold 1,300 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 19,536 shares in the company, valued at $4,812,302.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

IQVIA 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.