Allstate Corp Makes New $1.07 Million Investment in IQVIA Holdings Inc. (NYSE:IQV)

Allstate Corp purchased a new position in shares of IQVIA Holdings Inc. (NYSE:IQV) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,420 shares of the medical research company’s stock, valued at approximately $1,065,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in IQVIA during the fourth quarter worth about $336,041,000. Raymond James Financial Inc. acquired a new position in IQVIA during the 4th quarter worth approximately $236,120,000. American Century Companies Inc. boosted its position in IQVIA by 396.0% in the fourth quarter. American Century Companies Inc. now owns 1,134,737 shares of the medical research company’s stock valued at $222,987,000 after buying an additional 905,960 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of IQVIA by 46.2% during the third quarter. JPMorgan Chase & Co. now owns 1,845,711 shares of the medical research company’s stock worth $437,378,000 after buying an additional 583,396 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of 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. 89.62% of the stock is currently owned by institutional investors.

IQVIA Stock Down 1.2 %

IQVIA stock opened at $177.27 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 2.12. The company has a market capitalization of $31.25 billion, a PE ratio of 23.64, a PEG ratio of 1.99 and a beta of 1.50. The firm’s fifty day moving average is $193.15 and its 200 day moving average is $206.05. IQVIA Holdings Inc. has a 12-month low of $176.03 and a 12-month high of $253.84.

IQVIA (NYSE:IQV) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.11 by ($0.21). IQVIA had a return on equity of 28.81% and a net margin of 8.91%. As a group, sell-side analysts predict that IQVIA Holdings Inc. will post 10.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IQV has been the topic of a number of research reports. Bank of America reduced their price objective on IQVIA from $255.00 to $235.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Morgan Stanley upped their price objective on IQVIA from $245.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Stephens started coverage on shares of IQVIA in a research report on Friday, December 20th. They set an “overweight” rating and a $250.00 target price on the stock. BTIG Research cut shares of IQVIA from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Finally, Stifel Nicolaus cut their price target on shares of IQVIA from $273.00 to $261.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $249.05.

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.