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

Allspring Global Investments Holdings LLC lessened its position in IQVIA Holdings Inc. (NYSE:IQV) by 14.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,002 shares of the medical research company’s stock after selling 10,424 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in IQVIA were worth $12,488,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smith Group Asset Management LLC purchased a new position in shares of IQVIA in the fourth quarter valued at approximately $1,616,000. Simplify Asset Management Inc. lifted its position in IQVIA by 67.8% during the third quarter. Simplify Asset Management Inc. now owns 9,637 shares of the medical research company’s stock worth $2,284,000 after buying an additional 3,894 shares in the last quarter. Nordea Investment Management AB lifted its position in IQVIA by 47.4% during the fourth quarter. Nordea Investment Management AB now owns 1,405,281 shares of the medical research company’s stock worth $277,908,000 after buying an additional 452,029 shares in the last quarter. Fifth Third Bancorp lifted its position in IQVIA by 13.0% during the fourth quarter. Fifth Third Bancorp now owns 13,179 shares of the medical research company’s stock worth $2,590,000 after buying an additional 1,521 shares in the last quarter. Finally, Graphene Investments SAS raised its position in IQVIA by 22.0% in the fourth quarter. Graphene Investments SAS now owns 15,000 shares of the medical research company’s stock valued at $2,948,000 after purchasing an additional 2,700 shares during the period. Hedge funds and other institutional investors own 89.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IQV. Stephens began coverage on IQVIA in a research note on Friday, December 20th. They issued an “overweight” rating and a $250.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $270.00 price objective on shares of IQVIA in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on IQVIA from $270.00 to $265.00 and set a “buy” rating for the company in a research note on Friday, November 1st. The Goldman Sachs Group lowered their target price on IQVIA from $280.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Leerink Partners reissued an “outperform” rating and set a $248.00 target price (down from $260.00) on shares of IQVIA in a research note on Tuesday, November 19th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, IQVIA has a consensus rating of “Moderate Buy” and a consensus target price of $251.67.

IQVIA Stock Down 1.2 %

IQVIA stock opened at $193.65 on Tuesday. IQVIA Holdings Inc. has a fifty-two week low of $187.62 and a fifty-two week high of $261.73. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.81 and a current ratio of 0.84. The company has a market capitalization of $35.15 billion, a P/E ratio of 25.82, a PEG ratio of 2.25 and a beta of 1.48. The stock has a 50-day simple moving average of $200.41 and a 200-day simple moving average of $217.82.

IQVIA (NYSE:IQV) last posted its quarterly earnings data on Thursday, February 6th. The medical research company reported $2.90 EPS for the quarter, missing the consensus estimate of $3.11 by ($0.21). IQVIA had a net margin of 8.91% and a return on equity of 28.81%. Equities research analysts expect that IQVIA Holdings Inc. will post 10.81 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John G. Danhakl purchased 1,275 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were acquired at an average price of $200.58 per share, for a total transaction of $255,739.50. Following the acquisition, the director now directly owns 1,275 shares in the company, valued at approximately $255,739.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.

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.