Power Wealth Management LLC Takes $578,000 Position in IQVIA Holdings Inc. (NYSE:IQV)

Power Wealth Management LLC purchased a new position in IQVIA Holdings Inc. (NYSE:IQV) in the 4th quarter, Holdings Channel.com reports. The fund purchased 2,497 shares of the medical research company’s stock, valued at approximately $578,000.

Several other institutional investors have also added to or reduced their stakes in the business. Los Angeles Capital Management LLC lifted its stake in shares of IQVIA by 17.5% in 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 last quarter. International Assets Investment Management LLC bought a new stake in IQVIA in the fourth quarter valued at approximately $13,759,000. Schwartz Investment Counsel Inc. boosted its stake in shares of IQVIA by 4.1% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 178,690 shares of the medical research company’s stock valued at $41,345,000 after purchasing an additional 7,050 shares during the period. Gilliland Jeter Wealth Management LLC bought a new position in shares of IQVIA in the fourth quarter worth approximately $986,000. Finally, Dfpg Investments LLC purchased a new position in shares of IQVIA in the fourth quarter worth $1,106,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IQV has been the subject of several research analyst reports. Truist Financial dropped their price objective on IQVIA from $297.00 to $292.00 and set a “buy” rating for the company in a report on Friday. StockNews.com raised shares of IQVIA from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Leerink Partnrs reissued an “outperform” rating on shares of IQVIA in a research note on Monday, February 26th. SVB Leerink started coverage on IQVIA in a report on Monday, February 26th. They issued an “outperform” rating and a $290.00 price objective for the company. Finally, UBS Group lifted their target price on shares of IQVIA from $240.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, IQVIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.57.

Insider Activity

In related news, insider Kevin C. Knightly sold 8,607 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total value of $2,153,213.19. Following the sale, the insider now owns 5,251 shares in the company, valued at $1,313,642.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Eric Sherbet sold 1,000 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $241.50, for a total value of $241,500.00. Following the transaction, the insider now owns 20,836 shares in the company, valued at approximately $5,031,894. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kevin C. Knightly sold 8,607 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total transaction of $2,153,213.19. Following the sale, the insider now owns 5,251 shares of the company’s stock, valued at $1,313,642.67. The disclosure for this sale can be found here. Insiders sold 41,285 shares of company stock valued at $10,331,003 over the last three months. Insiders own 1.60% of the company’s stock.

IQVIA Stock Up 0.6 %

IQV traded up $1.23 during trading on Friday, hitting $223.37. 1,052,929 shares of the company’s stock traded hands, compared to its average volume of 831,136. IQVIA Holdings Inc. has a 12-month low of $167.42 and a 12-month high of $261.73. The company’s 50 day simple moving average is $244.08 and its two-hundred day simple moving average is $224.01. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $40.54 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.16 and a beta of 1.52.

IQVIA (NYSE:IQV) last released its quarterly earnings data on Wednesday, February 14th. The medical research company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.82 by $0.02. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.80 billion. IQVIA had a return on equity of 29.17% and a net margin of 9.01%. IQVIA’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the company earned $2.54 EPS. Analysts predict that IQVIA Holdings Inc. will post 10.12 earnings per share for the current fiscal year.

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.