Envestnet Asset Management Inc. Sells 184,941 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Envestnet Asset Management Inc. cut its stake in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 30.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 416,511 shares of the medical research company's stock after selling 184,941 shares during the period. Envestnet Asset Management Inc. owned approximately 0.23% of IQVIA worth $81,849,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in IQVIA during the 4th quarter valued at $336,041,000. Raymond James Financial Inc. bought a new position in IQVIA during the fourth quarter valued at about $236,120,000. American Century Companies Inc. grew its holdings in IQVIA by 396.0% during the fourth quarter. American Century Companies Inc. now owns 1,134,737 shares of the medical research company's stock worth $222,987,000 after acquiring an additional 905,960 shares during the period. JPMorgan Chase & Co. raised its position in IQVIA by 46.2% in the third quarter. JPMorgan Chase & Co. now owns 1,845,711 shares of the medical research company's stock worth $437,378,000 after acquiring an additional 583,396 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of IQVIA by 47.4% during the 4th quarter. Nordea Investment Management AB now owns 1,405,281 shares of the medical research company's stock valued at $277,908,000 after purchasing an additional 452,029 shares in the last quarter. Institutional investors and hedge funds own 89.62% of the company's stock.

IQVIA Stock Up 3.1 %

IQV stock traded up $4.52 during trading hours on Monday, hitting $150.07. The company's stock had a trading volume of 461,606 shares, compared to its average volume of 1,650,350. The stock has a 50 day moving average price of $182.32 and a two-hundred day moving average price of $199.38. IQVIA Holdings Inc. has a 12 month low of $135.97 and a 12 month high of $252.88. The company has a market capitalization of $26.46 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 2.12.

IQVIA (NYSE:IQV - Get Free Report) last posted its earnings results on Thursday, February 6th. The medical research company reported $2.90 EPS for the quarter, missing the consensus estimate of $3.11 by ($0.21). IQVIA had a return on equity of 28.81% and a net margin of 8.91%. On average, equities research analysts expect that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on IQV. Barclays reissued an "equal weight" rating and set a $170.00 target price (down from $235.00) on shares of IQVIA in a research note on Thursday. Royal Bank of Canada reissued an "outperform" rating and set a $270.00 price objective on shares of IQVIA in a research note on Monday, February 10th. BTIG Research lowered IQVIA from a "buy" rating to a "neutral" rating in a research report on Monday, February 3rd. Citigroup decreased their price target on IQVIA from $225.00 to $210.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus reduced their price objective on shares of IQVIA from $273.00 to $261.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $241.50.

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.