IQVIA Holdings Inc. $IQV Stock: Provenance Wealth Advisors LLC Increases Position

Key Points

• Provenance Wealth Advisors increased its IQVIA stake by 86,460% in the third quarter, adding 4,323 shares to own 4,328 shares valued at about $1.16 million.
• IQVIA beat quarterly estimates, reporting $3.34 in EPS and $4.43 billion in revenue; revenue rose 8% year over year.
• Analyst sentiment was broadly positive: IQVIA had a consensus “Moderate Buy” rating and an average price target of $294.21.

Provenance Wealth Advisors LLC lifted its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 86,460.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,328 shares of the medical research company's stock after acquiring an additional 4,323 shares during the quarter. Provenance Wealth Advisors LLC's holdings in IQVIA were worth $1,164,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Associated Banc Corp bought a new stake in IQVIA in the third quarter worth $47,745,000. Factory Mutual Insurance Co. purchased a new stake in shares of IQVIA in the third quarter worth $2,589,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of IQVIA during the third quarter valued at $12,510,000. Vise Technologies Inc. increased its holdings in shares of IQVIA by 17.2% during the third quarter. Vise Technologies Inc. now owns 9,601 shares of the medical research company's stock valued at $2,581,000 after acquiring an additional 1,411 shares in the last quarter. Finally, Avestar Capital LLC purchased a new position in shares of IQVIA in the 3rd quarter worth about $320,000. Hedge funds and other institutional investors own 89.62% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. BMO Capital Markets upped their target price on shares of IQVIA from $270.00 to $305.00 in a research note on Monday, October 19th. HSBC raised their price target on shares of IQVIA from $280.00 to $300.00 and gave the company a "buy" rating in a research report on Tuesday, September 1st. Truist Financial boosted their price objective on shares of IQVIA from $329.00 to $346.00 and gave the stock a "buy" rating in a report on Wednesday, October 28th. Stifel Nicolaus upped their price objective on IQVIA from $276.00 to $303.00 and gave the company a "buy" rating in a research report on Wednesday, October 14th. Finally, Leerink Partners increased their target price on IQVIA from $280.00 to $310.00 and gave the company an "outperform" rating in a research note on Thursday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, IQVIA has an average rating of "Moderate Buy" and a consensus target price of $294.21.

IQVIA Price Performance

IQV opened at $263.93 on Thursday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $43.50 billion, a P/E ratio of 32.07, a P/E/G ratio of 2.33 and a beta of 1.16. The company's 50-day simple moving average is $266.30 and its two-hundred day simple moving average is $210.70. IQVIA Holdings Inc. has a 52-week low of $154.50 and a 52-week high of $284.50.

IQVIA (NYSE:IQV - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The medical research company reported $3.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.26 by $0.08. IQVIA had a net margin of 8.05% and a return on equity of 30.02%. The firm had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter last year, the firm posted $3.00 EPS. The business's quarterly revenue was up 8.0% compared to the same quarter last year. As a group, analysts predict that IQVIA Holdings Inc. will post 11.53 EPS for the current year.

Insider Transactions at IQVIA

In related news, insider James G. Berkshire sold 2,668 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $261.33, for a total value of $697,228.44. Following the sale, the insider owned 10,890 shares in the company, valued at approximately $2,845,883.70. This trade represents a 19.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company's stock.

About IQVIA

IQVIA Holdings Inc is a global provider of technology, analytics and contract research services for the life sciences industry. The company helps pharmaceutical, biotechnology and medical device organizations develop, commercialize and improve products by combining healthcare data with advanced analytics, consulting and technology-enabled services.

Its offerings include clinical research and trial management, real-world evidence, healthcare data and analytics, regulatory and safety services, technology platforms, and commercial solutions.

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