Envestnet Portfolio Solutions Inc. Decreases Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Envestnet Portfolio Solutions Inc. lowered its stake in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 34.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 6,678 shares of the medical research company's stock after selling 3,539 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in IQVIA were worth $1,177,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American National Bank & Trust bought a new stake in IQVIA during the first quarter worth $26,000. ST Germain D J Co. Inc. lifted its position in shares of IQVIA by 66.1% during the first quarter. ST Germain D J Co. Inc. now owns 191 shares of the medical research company's stock valued at $34,000 after purchasing an additional 76 shares in the last quarter. GKV Capital Management Co. Inc. bought a new stake in IQVIA in the 4th quarter worth about $39,000. Lee Danner & Bass Inc. bought a new stake in IQVIA during the fourth quarter worth $44,000. Finally, Zions Bancorporation N.A. boosted its position in IQVIA by 55.2% in the fourth quarter. Zions Bancorporation N.A. now owns 239 shares of the medical research company's stock worth $47,000 after purchasing an additional 85 shares during the last quarter. 89.62% of the stock is owned by institutional investors.

IQVIA Price Performance

Shares of NYSE:IQV traded up $0.19 on Wednesday, hitting $158.77. The company's stock had a trading volume of 2,093,186 shares, compared to its average volume of 1,649,868. The company has a market capitalization of $27.47 billion, a PE ratio of 21.63, a PEG ratio of 1.70 and a beta of 1.28. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.82 and a quick ratio of 0.82. The company has a 50-day simple moving average of $148.49 and a 200 day simple moving average of $175.30. IQVIA Holdings Inc. has a 1 year low of $134.65 and a 1 year high of $252.88.

IQVIA (NYSE:IQV - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The medical research company reported $2.70 EPS for the quarter, topping analysts' consensus estimates of $2.63 by $0.07. The business had revenue of $3.83 billion during the quarter, compared to analysts' expectations of $3.77 billion. IQVIA had a net margin of 8.61% and a return on equity of 29.16%. The business's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.54 EPS. Sell-side analysts forecast that IQVIA Holdings Inc. will post 10.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IQV. HSBC cut IQVIA from a "buy" rating to a "hold" rating and lowered their target price for the stock from $260.00 to $160.00 in a research note on Friday, April 25th. JPMorgan Chase & Co. dropped their target price on shares of IQVIA from $232.00 to $177.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Truist Financial decreased their price target on shares of IQVIA from $263.00 to $216.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Hsbc Global Res lowered IQVIA from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Finally, Citigroup restated a "neutral" rating on shares of IQVIA in a research note on Thursday, May 22nd. Eight 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $226.32.

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.