SVB Wealth LLC Lowers Stake in IQVIA Holdings Inc. (NYSE:IQV)

SVB Wealth LLC reduced its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 13.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,713 shares of the medical research company’s stock after selling 4,730 shares during the period. SVB Wealth LLC’s holdings in IQVIA were worth $7,767,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC lifted its position in IQVIA by 17.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 118,616 shares of the medical research company’s stock valued at $27,445,000 after acquiring an additional 17,677 shares during the period. Jennison Associates LLC raised its holdings in IQVIA by 7.3% in the first quarter. Jennison Associates LLC now owns 140,914 shares of the medical research company’s stock worth $35,636,000 after buying an additional 9,578 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in 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 during the last quarter. Cadian Capital Management LP purchased a new position in IQVIA in the fourth quarter worth about $70,108,000. Finally, Nomura Holdings Inc. purchased a new position in IQVIA in the fourth quarter worth about $857,000. 89.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Robert W. Baird lifted their target price on shares of IQVIA from $235.00 to $251.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Truist Financial lifted their target price on shares of IQVIA from $292.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Barclays lifted their target price on shares of IQVIA from $255.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Evercore ISI boosted their price objective on shares of IQVIA from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group cut shares of IQVIA from a “buy” rating to a “hold” rating and decreased their price objective for the company from $266.00 to $242.00 in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $263.56.

IQVIA Stock Performance

NYSE IQV traded down $2.42 during trading hours on Monday, hitting $237.25. 921,649 shares of the company’s stock traded hands, compared to its average volume of 1,090,190. The firm has a market capitalization of $43.25 billion, a P/E ratio of 32.41, a P/E/G ratio of 2.26 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. The business’s fifty day moving average price is $220.23 and its two-hundred day moving average price is $229.55. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.80.

IQVIA (NYSE:IQV) last posted its quarterly earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.07. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.79 billion. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.22 earnings per share. Equities research analysts predict that IQVIA Holdings Inc. will post 10.21 EPS 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.