HB Wealth Management LLC Boosts Holdings in IQVIA Holdings Inc. (NYSE:IQV)

HB Wealth Management LLC raised its position in IQVIA Holdings Inc. (NYSE:IQV) by 66.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,971 shares of the medical research company’s stock after purchasing an additional 1,582 shares during the quarter. HB Wealth Management LLC’s holdings in IQVIA were worth $840,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Trajan Wealth LLC increased its stake in IQVIA by 4.0% in the second quarter. Trajan Wealth LLC now owns 77,780 shares of the medical research company’s stock worth $16,446,000 after purchasing an additional 3,027 shares during the period. Simmons Bank bought a new stake in IQVIA during the 2nd quarter valued at about $203,000. Patriot Financial Group Insurance Agency LLC boosted its position in IQVIA by 20.6% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,967 shares of the medical research company’s stock valued at $1,473,000 after buying an additional 1,190 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in IQVIA by 6.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 23,119 shares of the medical research company’s stock worth $4,888,000 after acquiring an additional 1,478 shares in the last quarter. Finally, Sterling Investment Counsel LLC raised its stake in shares of IQVIA by 24.6% during the second quarter. Sterling Investment Counsel LLC now owns 1,677 shares of the medical research company’s stock valued at $355,000 after acquiring an additional 331 shares in the last quarter. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IQV. Jefferies Financial Group downgraded IQVIA from a “buy” rating to a “hold” rating and decreased their price objective for the company from $266.00 to $242.00 in a report on Wednesday, July 24th. Morgan Stanley lifted their price objective on shares of IQVIA from $270.00 to $280.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Barclays upped their price objective on IQVIA from $255.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. UBS Group raised their price target on shares of IQVIA from $295.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Robert W. Baird boosted their target price on IQVIA from $235.00 to $251.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $265.67.

IQVIA Stock Performance

IQVIA stock traded up $4.46 during mid-day trading on Thursday, hitting $252.01. The company had a trading volume of 120,203 shares, compared to its average volume of 1,053,383. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $45.92 billion, a price-to-earnings ratio of 33.82, a P/E/G ratio of 2.26 and a beta of 1.49. The company’s fifty day moving average is $229.89 and its 200-day moving average is $233.85. IQVIA Holdings Inc. has a 12-month low of $167.42 and a 12-month high of $261.73.

IQVIA (NYSE:IQV) last issued its earnings results on Monday, July 22nd. The medical research company reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.07. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.79 billion. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. IQVIA’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.22 earnings per share. Equities research analysts predict that IQVIA Holdings Inc. will post 10.24 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.