Allspring Global Investments Holdings LLC Trims Stake in IQVIA Holdings Inc. (NYSE:IQV)

Allspring Global Investments Holdings LLC cut its stake in IQVIA Holdings Inc. (NYSE:IQV) by 56.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 27,645 shares of the medical research company’s stock after selling 36,357 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in IQVIA were worth $4,734,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of IQV. Norges Bank purchased a new position in IQVIA during the fourth quarter valued at $336,041,000. American Century Companies Inc. grew its position in shares of IQVIA by 396.0% in the 4th quarter. American Century Companies Inc. now owns 1,134,737 shares of the medical research company’s stock worth $222,987,000 after buying an additional 905,960 shares during the period. Invesco Ltd. increased its stake in shares of IQVIA by 53.4% in the 4th quarter. Invesco Ltd. now owns 2,590,260 shares of the medical research company’s stock worth $509,012,000 after acquiring an additional 902,226 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in 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 valued at $841,461,000 after acquiring an additional 712,958 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its holdings in IQVIA by 211.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 965,302 shares of the medical research company’s stock worth $189,691,000 after purchasing an additional 655,153 shares during the period. 89.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IQV. Hsbc Global Res cut IQVIA from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 25th. Citigroup reiterated a “neutral” rating on shares of IQVIA in a research note on Thursday, May 22nd. JPMorgan Chase & Co. reduced their price objective on shares of IQVIA from $232.00 to $177.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. Truist Financial dropped their target price on shares of IQVIA from $263.00 to $216.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, Wall Street Zen cut shares of IQVIA from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $226.32.

IQVIA Stock Performance

Shares of IQV stock opened at $164.24 on Friday. IQVIA Holdings Inc. has a 52-week low of $134.65 and a 52-week high of $252.88. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.19. The stock has a market cap of $28.41 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 1.82 and a beta of 1.30. The business has a 50-day simple moving average of $150.86 and a 200-day simple moving average of $173.16.

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

IQVIA 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.