Allspring Global Investments Holdings LLC Increases Position in IQVIA Holdings Inc. (NYSE:IQV)

Allspring Global Investments Holdings LLC lifted its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 3.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,451 shares of the medical research company’s stock after acquiring an additional 5,240 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.09% of IQVIA worth $43,105,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. AdvisorNet Financial Inc increased its stake in shares of IQVIA by 327.6% during the 4th quarter. AdvisorNet Financial Inc now owns 124 shares of the medical research company’s stock worth $29,000 after purchasing an additional 95 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of IQVIA in the first quarter valued at $31,000. Riverview Trust Co purchased a new position in shares of IQVIA during the 1st quarter valued at $32,000. BKM Wealth Management LLC bought a new position in shares of IQVIA during the 4th quarter worth $32,000. Finally, Activest Wealth Management purchased a new stake in IQVIA in the 4th quarter worth about $35,000. 89.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of IQVIA in a research report on Thursday, June 6th. They set a “buy” rating and a $270.00 target price for the company. Barclays dropped their target price on IQVIA from $275.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, June 28th. Truist Financial reduced their price target on IQVIA from $297.00 to $292.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Robert W. Baird dropped their price objective on IQVIA from $254.00 to $245.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Finally, StockNews.com raised IQVIA from a “hold” rating to a “buy” rating in a report on Saturday, June 29th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $257.73.

IQVIA Price Performance

Shares of NYSE:IQV opened at $206.65 on Thursday. IQVIA Holdings Inc. has a one year low of $167.42 and a one year high of $261.73. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $37.65 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 1.89 and a beta of 1.49. The company’s fifty day moving average price is $222.84 and its 200-day moving average price is $229.89.

IQVIA (NYSE:IQV) last released its earnings results on Thursday, May 2nd. The medical research company reported $2.30 EPS 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 for the quarter, compared to analysts’ expectations of $3.69 billion. On average, equities research analysts anticipate that IQVIA Holdings Inc. will post 10.11 earnings per share for the current fiscal 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.