Bishop Rock Capital L.P. decreased its holdings in IQVIA Holdings Inc. (NYSE:IQV – Free Report) by 11.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,471 shares of the medical research company’s stock after selling 702 shares during the period. IQVIA comprises 1.7% of Bishop Rock Capital L.P.’s portfolio, making the stock its 17th largest holding. Bishop Rock Capital L.P.’s holdings in IQVIA were worth $1,088,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. HighTower Advisors LLC lifted its stake in IQVIA by 2.4% in the first quarter. HighTower Advisors LLC now owns 5,055 shares of the medical research company’s stock valued at $1,168,000 after acquiring an additional 118 shares during the last quarter. Prudential PLC acquired a new position in shares of IQVIA during the 1st quarter valued at about $741,000. Baird Financial Group Inc. raised its stake in shares of IQVIA by 2.3% in the 1st quarter. Baird Financial Group Inc. now owns 99,566 shares of the medical research company’s stock valued at $23,021,000 after acquiring an additional 2,201 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in IQVIA by 59.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 388 shares of the medical research company’s stock worth $90,000 after purchasing an additional 144 shares during the last quarter. Finally, Covestor Ltd boosted its position in IQVIA by 82.2% during the first quarter. Covestor Ltd now owns 554 shares of the medical research company’s stock worth $128,000 after purchasing an additional 250 shares during the period. 86.82% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms recently issued reports on IQV. Truist Financial upped their price objective on shares of IQVIA from $244.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. Citigroup raised their price target on IQVIA from $200.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. Stifel Nicolaus increased their target price on IQVIA from $255.00 to $281.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Barclays lifted their price target on IQVIA from $230.00 to $250.00 in a research report on Tuesday, June 27th. Finally, Morgan Stanley raised their price objective on shares of IQVIA from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, IQVIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.00.
IQVIA Price Performance
Shares of IQV stock opened at $215.33 on Tuesday. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s fifty day simple moving average is $220.49 and its 200 day simple moving average is $207.94. IQVIA Holdings Inc. has a one year low of $165.75 and a one year high of $241.86. The firm has a market cap of $39.43 billion, a price-to-earnings ratio of 37.06, a P/E/G ratio of 2.22 and a beta of 1.37.
IQVIA (NYSE:IQV – Get Free Report) last posted its earnings results on Tuesday, August 1st. The medical research company reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.13. IQVIA had a net margin of 7.47% and a return on equity of 30.14%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.70 billion. On average, analysts expect that IQVIA Holdings Inc. will post 9.21 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.
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