IQVIA Holdings Inc. $IQV Stock Acquired by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC raised its position in shares of IQVIA Holdings Inc. (NYSE:IQV) by 86,460.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,328 shares of the medical research company’s stock after purchasing an additional 4,323 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in IQVIA were worth $1,164,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IQV. Financial Freedom LLC bought a new position in shares of IQVIA in the 1st quarter worth approximately $25,000. Ascentis Independent Advisors purchased a new stake in IQVIA during the first quarter valued at approximately $25,000. Compass Financial Management LLC bought a new position in IQVIA in the second quarter worth approximately $27,000. Elevation Wealth Partners LLC raised its position in IQVIA by 218.8% in the second quarter. Elevation Wealth Partners LLC now owns 153 shares of the medical research company’s stock worth $30,000 after acquiring an additional 105 shares during the period. Finally, Pension & Wealth Management Advisors Inc. purchased a new position in shares of IQVIA during the 3rd quarter worth $30,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.

IQVIA Stock Up 0.5%

IQV opened at $263.93 on Thursday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.83 and a current ratio of 0.83. IQVIA Holdings Inc. has a fifty-two week low of $154.50 and a fifty-two week high of $284.50. The firm’s fifty day moving average is $266.30 and its 200 day moving average is $210.70. The stock has a market cap of $43.50 billion, a price-to-earnings ratio of 32.07, a price-to-earnings-growth ratio of 2.33 and a beta of 1.16.

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

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 transaction, the insider owned 10,890 shares of the company’s stock, valued at $2,845,883.70. This represents a 19.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on IQVIA from $295.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, October 28th. Stifel Nicolaus boosted their price target on IQVIA from $276.00 to $303.00 and gave the company a “buy” rating in a report on Wednesday, October 14th. Evercore upped their price target on IQVIA from $275.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on IQVIA from $191.00 to $179.00 in a research note on Thursday, October 15th. Finally, Morgan Stanley boosted their price objective on IQVIA from $240.00 to $270.00 and gave the company an “equal weight” rating in a research note on Thursday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $294.21.

About IQVIA

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.