Magnolia Capital Advisors LLC Decreases Stake in IQVIA Holdings Inc. (NYSE:IQV)

Magnolia Capital Advisors LLC lowered its holdings in IQVIA Holdings Inc. (NYSE:IQV) by 3.5% in the 4th quarter, Holdings Channel reports. The firm owned 2,618 shares of the medical research company’s stock after selling 95 shares during the period. Magnolia Capital Advisors LLC’s holdings in IQVIA were worth $568,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC purchased a new stake in IQVIA during the fourth quarter valued at $60,000. Marks Group Wealth Management Inc grew its holdings in IQVIA by 0.8% during the fourth quarter. Marks Group Wealth Management Inc now owns 30,807 shares of the medical research company’s stock valued at $7,128,000 after purchasing an additional 259 shares during the period. Aspire Private Capital LLC grew its holdings in IQVIA by 8.6% during the fourth quarter. Aspire Private Capital LLC now owns 2,957 shares of the medical research company’s stock valued at $684,000 after purchasing an additional 235 shares during the period. CWM LLC grew its holdings in IQVIA by 5.5% during the fourth quarter. CWM LLC now owns 3,980 shares of the medical research company’s stock valued at $921,000 after purchasing an additional 207 shares during the period. Finally, Signaturefd LLC grew its holdings in IQVIA by 13.0% during the fourth quarter. Signaturefd LLC now owns 2,492 shares of the medical research company’s stock valued at $577,000 after purchasing an additional 287 shares during the period. Hedge funds and other institutional investors own 89.62% of the company’s stock.

Insider Buying and Selling at IQVIA

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

Analysts Set New Price Targets

IQV has been the subject of several recent research reports. BTIG Research initiated coverage on IQVIA in a report on Tuesday, February 13th. They set a “buy” rating and a $285.00 price target for the company. StockNews.com raised IQVIA from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Barclays upped their price objective on IQVIA from $260.00 to $265.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Robert W. Baird upped their price objective on IQVIA from $226.00 to $251.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Finally, UBS Group upped their price objective on IQVIA from $240.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IQVIA presently has an average rating of “Moderate Buy” and a consensus price target of $256.80.

IQVIA Price Performance

Shares of NYSE:IQV traded up $2.22 during mid-day trading on Wednesday, reaching $240.84. The stock had a trading volume of 1,492,788 shares, compared to its average volume of 972,338. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 2.12. The company has a market cap of $43.71 billion, a P/E ratio of 33.04, a price-to-earnings-growth ratio of 2.24 and a beta of 1.50. IQVIA Holdings Inc. has a 1 year low of $167.42 and a 1 year high of $261.73. The business’s 50 day moving average price is $245.50 and its 200 day moving average price is $222.69.

IQVIA (NYSE:IQV) last issued its quarterly earnings data 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. IQVIA had a return on equity of 29.32% and a net margin of 9.06%. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same period in the prior year, the business posted $2.54 earnings per share. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. Research analysts expect that IQVIA Holdings Inc. will post 10.11 EPS for the current fiscal year.

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.