Sowell Financial Services LLC Takes $305,000 Position in IQVIA Holdings Inc. (NYSE:IQV)

Sowell Financial Services LLC bought a new position in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 1,729 shares of the medical research company's stock, valued at approximately $305,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in IQVIA by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 20,131,734 shares of the medical research company's stock valued at $3,956,087,000 after acquiring an additional 105,504 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of IQVIA by 20.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 4,282,024 shares of the medical research company's stock worth $841,461,000 after buying an additional 712,958 shares in the last quarter. Geode Capital Management LLC grew its position in shares of IQVIA by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 4,175,524 shares of the medical research company's stock worth $818,315,000 after buying an additional 77,981 shares during the period. Invesco Ltd. grew its position in shares of IQVIA by 53.4% during the 4th quarter. Invesco Ltd. now owns 2,590,260 shares of the medical research company's stock worth $509,012,000 after buying an additional 902,226 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of IQVIA by 2.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438,726 shares of the medical research company's stock worth $481,380,000 after buying an additional 59,426 shares during the period. 89.62% of the stock is owned by institutional investors and hedge funds.

IQVIA Trading Up 0.2%

IQVIA stock opened at $154.96 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.19. The business's fifty day simple moving average is $148.21 and its two-hundred day simple moving average is $175.91. IQVIA Holdings Inc. has a 12 month low of $134.65 and a 12 month high of $252.88. The company has a market capitalization of $26.81 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28.

IQVIA (NYSE:IQV - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The medical research company reported $2.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.63 by $0.07. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.77 billion. IQVIA had a return on equity of 29.16% and a net margin of 8.61%. The company's quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.54 earnings per share. As a group, equities analysts predict that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IQV has been the subject of several recent analyst reports. UBS Group reduced their price objective on shares of IQVIA from $255.00 to $185.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Robert W. Baird reduced their price objective on shares of IQVIA from $195.00 to $161.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Barclays reduced their price objective on shares of IQVIA from $170.00 to $165.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Truist Financial reduced their price objective on shares of IQVIA from $263.00 to $216.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. cut their target price on IQVIA from $232.00 to $177.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Eight investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $226.32.

IQVIA Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.