Sawgrass Asset Management LLC Sells 3,595 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Sawgrass Asset Management LLC lessened its holdings in IQVIA Holdings Inc. (NYSE:IQV) by 6.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 50,539 shares of the medical research company’s stock after selling 3,595 shares during the period. Sawgrass Asset Management LLC’s holdings in IQVIA were worth $9,931,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in IQVIA in the 3rd quarter worth approximately $27,000. Synergy Asset Management LLC bought a new position in IQVIA in the 4th quarter worth approximately $33,000. Avior Wealth Management LLC boosted its stake in IQVIA by 117.6% in the 3rd quarter. Avior Wealth Management LLC now owns 161 shares of the medical research company’s stock worth $38,000 after purchasing an additional 87 shares during the period. Assetmark Inc. boosted its stake in IQVIA by 612.5% in the 3rd quarter. Assetmark Inc. now owns 228 shares of the medical research company’s stock worth $54,000 after purchasing an additional 196 shares during the period. Finally, Concord Wealth Partners bought a new position in IQVIA in the 3rd quarter worth approximately $57,000. Institutional investors own 89.62% of the company’s stock.

IQVIA Stock Performance

Shares of IQVIA stock opened at $197.64 on Thursday. The firm has a market cap of $35.87 billion, a P/E ratio of 26.35, a P/E/G ratio of 2.25 and a beta of 1.48. The company has a current ratio of 0.84, a quick ratio of 0.81 and a debt-to-equity ratio of 2.12. IQVIA Holdings Inc. has a 12 month low of $187.62 and a 12 month high of $261.73. The stock’s fifty day moving average price is $200.77 and its 200-day moving average price is $218.81.

IQVIA (NYSE:IQV) last posted its earnings results on Thursday, February 6th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.11 by ($0.21). IQVIA had a net margin of 8.91% and a return on equity of 28.81%. On average, equities research analysts expect that IQVIA Holdings Inc. will post 10.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other IQVIA news, Director John G. Danhakl acquired 1,275 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average cost of $200.58 per share, for a total transaction of $255,739.50. Following the completion of the transaction, the director now directly owns 1,275 shares of the company’s stock, valued at $255,739.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

IQV has been the subject of several recent analyst reports. BTIG Research downgraded IQVIA from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley increased their target price on IQVIA from $245.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday. UBS Group lowered their price target on IQVIA from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Stephens assumed coverage on IQVIA in a research report on Friday, December 20th. They issued an “overweight” rating and a $250.00 price target for the company. Finally, Stifel Nicolaus lowered their price target on IQVIA from $273.00 to $261.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, IQVIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.67.

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.