Congress Asset Management Co. MA Reduces Stock Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Congress Asset Management Co. MA cut its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 26.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 945 shares of the medical research company’s stock after selling 335 shares during the period. Congress Asset Management Co. MA’s holdings in IQVIA were worth $239,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Jag Capital Management LLC grew its position in shares of IQVIA by 0.4% during the fourth quarter. Jag Capital Management LLC now owns 11,401 shares of the medical research company’s stock worth $2,638,000 after acquiring an additional 49 shares during the last quarter. Laurel Wealth Advisors LLC grew its position in shares of IQVIA by 1.1% during the third quarter. Laurel Wealth Advisors LLC now owns 4,710 shares of the medical research company’s stock worth $927,000 after acquiring an additional 50 shares during the last quarter. Raleigh Capital Management Inc. grew its position in shares of IQVIA by 4.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,157 shares of the medical research company’s stock worth $268,000 after acquiring an additional 50 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of IQVIA by 18.1% during the third quarter. Parkside Financial Bank & Trust now owns 346 shares of the medical research company’s stock worth $68,000 after acquiring an additional 53 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of IQVIA by 1.6% during the third quarter. B. Riley Wealth Advisors Inc. now owns 3,568 shares of the medical research company’s stock worth $702,000 after acquiring an additional 56 shares during the last quarter. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on IQV shares. SVB Leerink started coverage on IQVIA in a report on Monday, February 26th. They set an “outperform” rating and a $290.00 price target for the company. Truist Financial decreased their price target on IQVIA from $297.00 to $292.00 and set a “buy” rating for the company in a report on Friday, May 3rd. The Goldman Sachs Group started coverage on IQVIA in a report on Thursday, June 6th. They set a “buy” rating and a $270.00 price target for the company. StockNews.com downgraded IQVIA from a “buy” rating to a “hold” rating in a report on Friday. Finally, Evercore ISI decreased their price target on IQVIA from $275.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, IQVIA currently has an average rating of “Moderate Buy” and a consensus target price of $258.40.

IQVIA Trading Up 1.0 %

Shares of IQV stock opened at $216.25 on Monday. IQVIA Holdings Inc. has a fifty-two week low of $167.42 and a fifty-two week high of $261.73. The stock has a market cap of $39.40 billion, a P/E ratio of 29.54, a P/E/G ratio of 1.95 and a beta of 1.53. The business has a fifty day simple moving average of $225.57 and a 200-day simple moving average of $230.38. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 2.02.

IQVIA (NYSE:IQV) last announced its quarterly earnings results on Thursday, May 2nd. The medical research company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.11. IQVIA had a return on equity of 29.17% and a net margin of 9.01%. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.69 billion. On average, analysts forecast that IQVIA Holdings Inc. will post 10.11 earnings per share for the current fiscal 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.