Benjamin F. Edwards & Company Inc. Decreases Position in IQVIA Holdings Inc. (NYSE:IQV)

Posted by Defense World Staff on May 9th, 2023

Benjamin F. Edwards & Company Inc. cut its position in IQVIA Holdings Inc. (NYSE:IQV – Get Rating) by 25.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 473 shares of the medical research company’s stock after selling 164 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in IQVIA were worth $97,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Clear Investment Research LLC purchased a new position in IQVIA in the third quarter worth about $27,000. Glassy Mountain Advisors Inc. purchased a new position in shares of IQVIA during the fourth quarter valued at approximately $31,000. Spire Wealth Management raised its holdings in shares of IQVIA by 40.3% during the fourth quarter. Spire Wealth Management now owns 167 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 48 shares during the last quarter. Hollencrest Capital Management purchased a new position in shares of IQVIA during the fourth quarter valued at approximately $41,000. Finally, Heritage Wealth Advisors purchased a new position in shares of IQVIA during the fourth quarter valued at approximately $43,000. 86.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at IQVIA

In related news, insider Kevin C. Knightly sold 4,446 shares of the company’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $225.61, for a total transaction of $1,003,062.06. Following the sale, the insider now owns 1,973 shares of the company’s stock, valued at $445,128.53. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Eric Sherbet sold 1,000 shares of the stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the sale, the insider now owns 17,053 shares of the company’s stock, valued at $3,922,190. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kevin C. Knightly sold 4,446 shares of the stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $225.61, for a total transaction of $1,003,062.06. Following the completion of the sale, the insider now directly owns 1,973 shares in the company, valued at approximately $445,128.53. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on IQV. SVB Leerink reissued an “outperform” rating on shares of IQVIA in a report on Friday, January 27th. Credit Suisse Group reissued an “outperform” rating and set a $265.00 price objective on shares of IQVIA in a report on Monday, February 13th. Robert W. Baird cut their target price on shares of IQVIA from $240.00 to $235.00 in a research report on Friday, April 28th. JPMorgan Chase & Co. boosted their target price on shares of IQVIA from $257.00 to $263.00 and gave the company an “overweight” rating in a research report on Monday, February 27th. Finally, Wells Fargo & Company cut their target price on shares of IQVIA from $235.00 to $220.00 in a research report on Monday, May 1st. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, IQVIA currently has a consensus rating of “Moderate Buy” and an average price target of $253.25.

IQVIA Stock Performance

IQV opened at $189.82 on Tuesday. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.80 and a quick ratio of 0.80. The company has a 50 day simple moving average of $197.54 and a two-hundred day simple moving average of $208.75. IQVIA Holdings Inc. has a 1-year low of $165.75 and a 1-year high of $249.11. The firm has a market cap of $35.22 billion, a P/E ratio of 34.14, a PEG ratio of 1.89 and a beta of 1.39.

IQVIA (NYSE:IQV – Get Rating) last issued its earnings results on Friday, February 10th. The medical research company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.02. IQVIA had a net margin of 7.28% and a return on equity of 30.95%. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the business earned $2.42 earnings per share. IQVIA’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts forecast that IQVIA Holdings Inc. will post 9.31 earnings per share for the current fiscal year.

IQVIA Profile

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IQVIA Holdings, Inc engages in the provision of analytics, technology solutions, and clinical research services to the life sciences industry. It operates through the following segments: Technology and Analytics Solutions, Research and Development Solutions, and Contract Sales and Medical Solutions. The Technology and Analytics Solutions segment supplies mission critical information, technology solutions, and real-world solutions and services to the firm’s life science clients.