Summit Investment Advisors Inc. Sells 74 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Summit Investment Advisors Inc. cut its stake in IQVIA Holdings Inc. (NYSE:IQV) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,680 shares of the medical research company’s stock after selling 74 shares during the quarter. Summit Investment Advisors Inc.’s holdings in IQVIA were worth $330,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of IQV. World Investment Advisors LLC bought a new stake in shares of IQVIA during the third quarter worth approximately $14,633,000. Arvest Bank Trust Division bought a new stake in IQVIA in the 3rd quarter valued at $21,079,000. Wilmington Savings Fund Society FSB bought a new position in IQVIA during the 3rd quarter worth $2,310,000. Tidal Investments LLC lifted its holdings in shares of IQVIA by 9.3% during the third quarter. Tidal Investments LLC now owns 5,980 shares of the medical research company’s stock worth $1,417,000 after buying an additional 509 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of IQVIA by 1.2% in the third quarter. Franklin Resources Inc. now owns 501,807 shares of the medical research company’s stock valued at $117,031,000 after acquiring an additional 6,011 shares during the period. Institutional investors and hedge funds own 89.62% of the company’s stock.

IQVIA Stock Performance

NYSE:IQV opened at $143.66 on Monday. The stock’s 50-day moving average is $176.42 and its 200-day moving average is $196.40. The stock has a market cap of $25.33 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46. IQVIA Holdings Inc. has a 1-year low of $135.97 and a 1-year high of $252.88. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.12.

IQVIA (NYSE:IQV) last announced its quarterly earnings results on Thursday, February 6th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.11 by ($0.21). IQVIA had a net margin of 8.91% and a return on equity of 28.81%. Equities research analysts anticipate that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IQV. Royal Bank of Canada reiterated an “outperform” rating and issued a $270.00 price objective on shares of IQVIA in a research note on Monday, February 10th. BTIG Research cut IQVIA from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Mizuho dropped their price objective on IQVIA from $242.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. StockNews.com lowered IQVIA from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Finally, UBS Group dropped their price target on IQVIA from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.50.

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.