Bank of The West Trims Stake in IQVIA Holdings Inc. (NYSE:IQV)

Bank of The West reduced its stake in shares of IQVIA Holdings Inc. (NYSE:IQVGet Rating) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,063 shares of the medical research company’s stock after selling 408 shares during the quarter. Bank of The West’s holdings in IQVIA were worth $3,251,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Truist Financial Corp increased its position in shares of IQVIA by 8.5% in the first quarter. Truist Financial Corp now owns 305,943 shares of the medical research company’s stock valued at $70,738,000 after buying an additional 23,863 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of IQVIA by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the medical research company’s stock valued at $2,938,000 after buying an additional 100 shares in the last quarter. Hotaling Investment Management LLC acquired a new stake in shares of IQVIA in the first quarter worth approximately $1,058,000. Cypress Wealth Services LLC boosted its stake in shares of IQVIA by 10.0% in the first quarter. Cypress Wealth Services LLC now owns 1,372 shares of the medical research company’s stock worth $317,000 after acquiring an additional 125 shares during the last quarter. Finally, Empirical Finance LLC boosted its stake in shares of IQVIA by 12.7% in the first quarter. Empirical Finance LLC now owns 3,538 shares of the medical research company’s stock worth $818,000 after acquiring an additional 398 shares during the last quarter. Institutional investors and hedge funds own 87.12% of the company’s stock.

IQV stock opened at $215.05 on Tuesday. The business’s fifty day moving average price is $209.89 and its 200 day moving average price is $230.36. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 2.12. IQVIA Holdings Inc. has a 12-month low of $194.67 and a 12-month high of $285.61. The company has a market capitalization of $40.70 billion, a PE ratio of 38.75, a P/E/G ratio of 1.54 and a beta of 1.33.

IQVIA (NYSE:IQVGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The medical research company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.07. IQVIA had a return on equity of 28.80% and a net margin of 7.69%. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the prior year, the business earned $2.05 EPS. IQVIA’s revenue was up 4.7% on a year-over-year basis. Research analysts predict that IQVIA Holdings Inc. will post 9.48 EPS for the current fiscal year.

A number of equities analysts have weighed in on IQV shares. Piper Sandler raised IQVIA from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $231.00 to $255.00 in a research note on Thursday, April 28th. Guggenheim started coverage on IQVIA in a research note on Monday, May 23rd. They set a “buy” rating and a $244.00 price objective on the stock. StockNews.com raised IQVIA from a “hold” rating to a “buy” rating in a research note on Thursday, June 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on IQVIA from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Tuesday, April 12th. Finally, Wells Fargo & Company downgraded IQVIA from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $290.00 to $235.00 in a research report on Monday, April 25th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $277.80.

IQVIA Profile (Get Rating)

IQVIA Holdings Inc provides 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.

Further Reading

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Institutional Ownership by Quarter for IQVIA (NYSE:IQV)

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