Montag & Caldwell LLC Cuts Stock Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Montag & Caldwell LLC trimmed its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 39.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,068 shares of the medical research company’s stock after selling 43,518 shares during the period. IQVIA accounts for 2.7% of Montag & Caldwell LLC’s portfolio, making the stock its 20th largest holding. Montag & Caldwell LLC’s holdings in IQVIA were worth $15,287,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. AdvisorNet Financial Inc grew its stake in shares of IQVIA by 327.6% in the 4th quarter. AdvisorNet Financial Inc now owns 124 shares of the medical research company’s stock worth $29,000 after buying an additional 95 shares in the last quarter. BKM Wealth Management LLC purchased a new position in shares of IQVIA in the 4th quarter worth $32,000. Activest Wealth Management bought a new stake in shares of IQVIA in the 4th quarter worth about $35,000. CVA Family Office LLC bought a new stake in shares of IQVIA in the 4th quarter worth about $43,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of IQVIA in the 3rd quarter worth about $44,000. 89.62% of the stock is owned by hedge funds and other institutional investors.

IQVIA Stock Up 0.6 %

Shares of NYSE IQV traded up $1.46 during trading hours on Monday, hitting $236.34. 119,458 shares of the stock were exchanged, compared to its average volume of 959,482. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 2.12. The company has a market cap of $42.90 billion, a PE ratio of 32.22, a PEG ratio of 2.27 and a beta of 1.50. The firm has a fifty day moving average price of $245.28 and a 200-day moving average price of $223.30. IQVIA Holdings Inc. has a 12 month low of $167.42 and a 12 month high of $261.73.

IQVIA (NYSE:IQV) last issued its quarterly earnings results on Wednesday, February 14th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.02. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.80 billion. IQVIA had a net margin of 9.06% and a return on equity of 29.32%. IQVIA’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.54 EPS. On average, sell-side analysts expect that IQVIA Holdings Inc. will post 10.12 EPS for the current year.

Insider Buying and Selling

In other IQVIA news, insider Eric Sherbet sold 1,000 shares of the business’s stock in a transaction 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 directly owns 20,836 shares of the company’s stock, valued at approximately $5,031,894. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other IQVIA news, insider Ari Bousbib sold 31,678 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $250.53, for a total value of $7,936,289.34. Following the transaction, the insider now directly owns 796,752 shares in the company, valued at approximately $199,610,278.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Eric Sherbet sold 1,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $241.50, for a total transaction of $241,500.00. Following the transaction, the insider now directly owns 20,836 shares of the company’s stock, valued at approximately $5,031,894. The disclosure for this sale can be found here. Insiders sold 41,285 shares of company stock worth $10,331,003 over the last 90 days. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IQV. Evercore ISI raised their target price on shares of IQVIA from $255.00 to $265.00 and gave the stock a “market outperform” rating in a report on Thursday, February 15th. BTIG Research began coverage on shares of IQVIA in a report on Tuesday, February 13th. They set a “buy” rating and a $285.00 price objective for the company. Leerink Partnrs reiterated an “outperform” rating on shares of IQVIA in a report on Monday, February 26th. Barclays lifted their price objective on shares of IQVIA from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Finally, Robert W. Baird lifted their price objective on shares of IQVIA from $226.00 to $251.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, IQVIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.80.

About IQVIA

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.