IQVIA Holdings Inc. $IQV Stock: Legacy Wealth Management LLC MS Lowers Position

Legacy Wealth Management LLC MS decreased its position in IQVIA Holdings Inc. (NYSE:IQV) by 41.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,519 shares of the medical research company’s stock after selling 3,233 shares during the quarter. Legacy Wealth Management LLC MS’s holdings in IQVIA were worth $1,215,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in IQV. Financial Freedom LLC bought a new stake in IQVIA in the first quarter worth $25,000. Ascentis Independent Advisors acquired a new stake in shares of IQVIA in the first quarter worth about $25,000. Compass Financial Management LLC acquired a new position in shares of IQVIA during the 2nd quarter valued at about $27,000. Elevation Wealth Partners LLC increased its holdings in shares of IQVIA by 218.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 153 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 105 shares during the last quarter. Finally, Pension & Wealth Management Advisors Inc. bought a new position in shares of IQVIA in the 3rd quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.62% of the company’s stock.

Insider Activity at IQVIA

In other news, insider James G. Berkshire sold 2,668 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $261.33, for a total value of $697,228.44. Following the completion of the sale, the insider directly owned 10,890 shares of the company’s stock, valued at $2,845,883.70. This represents a 19.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.

IQVIA Price Performance

Shares of IQV stock opened at $258.20 on Tuesday. The firm has a market cap of $42.55 billion, a price-to-earnings ratio of 24.10, a P/E/G ratio of 2.45 and a beta of 1.17. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.83 and a quick ratio of 0.71. The stock’s fifty day simple moving average is $266.18 and its 200 day simple moving average is $210.49. IQVIA Holdings Inc. has a one year low of $154.50 and a one year high of $284.50.

IQVIA (NYSE:IQV) last issued its quarterly earnings data on Tuesday, October 27th. The medical research company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.08. The firm had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.37 billion. IQVIA had a return on equity of 30.02% and a net margin of 8.05%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.00 EPS. On average, analysts expect that IQVIA Holdings Inc. will post 11.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Weiss Ratings downgraded shares of IQVIA from a “hold (c+)” rating to a “sell (d+)” rating in a report on Wednesday, October 28th. HSBC upped their price target on shares of IQVIA from $280.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, September 1st. Jefferies Financial Group lifted their price objective on IQVIA from $220.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Truist Financial boosted their price objective on IQVIA from $329.00 to $346.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Finally, Evercore raised their target price on IQVIA from $275.00 to $290.00 and gave the company an “outperform” rating in a report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $294.21.

IQVIA Profile

IQVIA Holdings Inc is a global provider of technology, analytics and contract research services for the life sciences industry. The company helps pharmaceutical, biotechnology and medical device organizations develop, commercialize and improve products by combining healthcare data with advanced analytics, consulting and technology-enabled services.

Its offerings include clinical research and trial management, real-world evidence, healthcare data and analytics, regulatory and safety services, technology platforms, and commercial solutions.