Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 7,475 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its position in shares of IQVIA Holdings Inc. (NYSE:IQV) by 44.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,184 shares of the medical research company’s stock after selling 7,475 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in IQVIA were worth $2,125,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AMF Tjanstepension AB bought a new stake in IQVIA in the third quarter worth about $148,096,000. Eagle Asset Management Inc. purchased a new position in IQVIA during the third quarter valued at approximately $102,982,000. iA Global Asset Management Inc. increased its holdings in IQVIA by 1,225.3% during the third quarter. iA Global Asset Management Inc. now owns 320,271 shares of the medical research company’s stock valued at $63,013,000 after buying an additional 296,105 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in IQVIA by 2,765.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 271,316 shares of the medical research company’s stock valued at $53,381,000 after buying an additional 261,848 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in IQVIA by 33.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,039,436 shares of the medical research company’s stock valued at $240,505,000 after buying an additional 260,271 shares during the period. 89.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IQV has been the topic of several research reports. Guggenheim lowered shares of IQVIA from a “buy” rating to a “neutral” rating in a report on Thursday, February 15th. Leerink Partnrs reiterated an “outperform” rating on shares of IQVIA in a research note on Monday, February 26th. StockNews.com upgraded shares of IQVIA from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. SVB Leerink initiated coverage on shares of IQVIA in a research report on Monday, February 26th. They set an “outperform” rating and a $290.00 target price for the company. Finally, Evercore ISI boosted their target price on shares of IQVIA from $255.00 to $265.00 and gave the company a “market outperform” rating in a research report on Thursday, February 15th. Three research 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $256.80.

Insider Activity at IQVIA

In related news, insider Eric Sherbet sold 1,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $241.50, for a total transaction of $241,500.00. Following the completion of the sale, the insider now owns 20,836 shares of the company’s stock, valued at approximately $5,031,894. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Kevin C. Knightly sold 8,607 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total value of $2,153,213.19. Following the transaction, the insider now directly owns 5,251 shares in the company, valued at approximately $1,313,642.67. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric Sherbet sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $241.50, for a total transaction of $241,500.00. Following the completion of the transaction, the insider now owns 20,836 shares in the company, valued at $5,031,894. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,285 shares of company stock valued at $10,331,003. Corporate insiders own 1.60% of the company’s stock.

IQVIA Price Performance

Shares of IQV stock traded up $6.45 on Tuesday, reaching $237.79. 332,486 shares of the company were exchanged, compared to its average volume of 955,082. The company has a market cap of $43.16 billion, a price-to-earnings ratio of 31.73, a P/E/G ratio of 2.21 and a beta of 1.50. The business has a 50-day moving average price of $245.08 and a 200 day moving average price of $222.28. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.86 and a current ratio of 0.86. IQVIA Holdings Inc. has a 1 year low of $167.42 and a 1 year high of $261.73.

IQVIA (NYSE:IQV) last announced its quarterly earnings data on Wednesday, February 14th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.02. IQVIA had a net margin of 9.06% and a return on equity of 29.32%. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.80 billion. During the same quarter in the prior year, the company earned $2.54 EPS. IQVIA’s revenue was up 3.5% compared to the same quarter last year. Equities research analysts forecast that IQVIA Holdings Inc. will post 10.11 earnings per share for the current fiscal year.

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.