IQVIA Holdings Inc. (NYSE:IQV) Stock Position Reduced by Modern Wealth Management LLC

Modern Wealth Management LLC decreased its stake in IQVIA Holdings Inc. (NYSE:IQV) by 22.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,093 shares of the medical research company’s stock after selling 312 shares during the quarter. Modern Wealth Management LLC’s holdings in IQVIA were worth $226,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of IQVIA during the 4th quarter valued at about $236,120,000. American Century Companies Inc. raised its position 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 valued at $222,987,000 after acquiring an additional 905,960 shares in the last quarter. FMR LLC lifted its stake in IQVIA by 38.7% in the third quarter. FMR LLC now owns 2,887,342 shares of the medical research company’s stock valued at $684,213,000 after acquiring an additional 804,963 shares during the last quarter. JPMorgan Chase & Co. grew 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 raised its holdings 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. 89.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IQV. BTIG Research cut shares of IQVIA from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Robert W. Baird decreased their price target on IQVIA from $212.00 to $210.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. lowered their price objective on IQVIA from $240.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Stephens started coverage on IQVIA in a report on Friday, December 20th. They issued an “overweight” rating and a $250.00 target price for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $270.00 price target on shares of IQVIA in a report on Monday, February 10th. Five research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.05.

IQVIA Price Performance

Shares of IQV stock opened at $177.27 on Friday. IQVIA Holdings Inc. has a 12 month low of $176.03 and a 12 month high of $253.84. The company has a market capitalization of $31.25 billion, a P/E ratio of 23.64, a P/E/G ratio of 1.99 and a beta of 1.50. The stock has a 50 day moving average of $193.15 and a two-hundred day moving average of $206.47. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.12.

IQVIA (NYSE:IQV) last issued 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%. As a group, equities analysts expect that IQVIA Holdings Inc. will post 10.84 EPS for the current year.

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.