Pinnacle Wealth Planning Services Inc. Sells 272 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Pinnacle Wealth Planning Services Inc. cut its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 19.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,146 shares of the medical research company’s stock after selling 272 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in IQVIA were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new position in shares of IQVIA during the 4th quarter valued at about $33,000. GKV Capital Management Co. Inc. acquired a new stake in IQVIA during the 4th quarter worth approximately $39,000. Lee Danner & Bass Inc. bought a new position in IQVIA in the fourth quarter valued at approximately $44,000. Zions Bancorporation N.A. boosted its holdings in shares of IQVIA by 55.2% in the fourth quarter. Zions Bancorporation N.A. now owns 239 shares of the medical research company’s stock valued at $47,000 after buying an additional 85 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in shares of IQVIA in the fourth quarter valued at approximately $60,000. 89.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IQV. Hsbc Global Res lowered shares of IQVIA from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. HSBC downgraded IQVIA from a “buy” rating to a “hold” rating and dropped their price target for the company from $260.00 to $160.00 in a research note on Friday, April 25th. Barclays reduced their price objective on IQVIA from $170.00 to $165.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. Redburn Partners set a $188.00 target price on IQVIA in a research report on Friday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $270.00 target price on shares of IQVIA in a research note on Monday, February 10th. Eight research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IQVIA has an average rating of “Moderate Buy” and an average target price of $226.32.

IQVIA Trading Up 2.6%

IQVIA stock opened at $140.57 on Wednesday. The stock has a 50-day simple moving average of $153.47 and a 200 day simple moving average of $182.26. The stock has a market capitalization of $24.32 billion, a P/E ratio of 18.74, a PEG ratio of 1.99 and a beta of 1.34. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.84 and a current ratio of 0.84. IQVIA Holdings Inc. has a 52 week low of $134.65 and a 52 week high of $252.88.

IQVIA (NYSE:IQV) last posted its earnings results on Tuesday, May 6th. The medical research company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.07. IQVIA had a return on equity of 28.81% and a net margin of 8.91%. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the previous year, the firm earned $2.54 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. Analysts expect that IQVIA Holdings Inc. will post 10.84 earnings per share 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.