Cary Street Partners Financial LLC Takes $1.42 Million Position in IQVIA Holdings Inc. (NYSE:IQV)

Cary Street Partners Financial LLC bought a new position in IQVIA Holdings Inc. (NYSE:IQV) in the fourth quarter, HoldingsChannel reports. The fund bought 7,237 shares of the medical research company’s stock, valued at approximately $1,422,000.

Several other hedge funds and other institutional investors have also bought and sold shares of IQV. Synergy Asset Management LLC purchased a new position in shares of IQVIA during the fourth quarter valued at approximately $33,000. GKV Capital Management Co. Inc. purchased a new stake in IQVIA during the 4th quarter valued at $39,000. Lee Danner & Bass Inc. bought a new position in shares of IQVIA during the 4th quarter valued at $44,000. Zions Bancorporation N.A. grew its holdings in shares of IQVIA by 55.2% in the fourth quarter. Zions Bancorporation N.A. now owns 239 shares of the medical research company’s stock worth $47,000 after acquiring an additional 85 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in IQVIA during the fourth quarter valued at $60,000. Institutional investors own 89.62% of the company’s stock.

IQVIA Stock Performance

NYSE IQV opened at $153.21 on Thursday. The company has a market cap of $27.01 billion, a P/E ratio of 20.43, a P/E/G ratio of 1.99 and a beta of 1.34. The business’s 50 day moving average price is $165.23 and its 200-day moving average price is $189.61. IQVIA Holdings Inc. has a fifty-two week low of $135.97 and a fifty-two week high of $252.88. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.84 and a current ratio of 0.84.

IQVIA (NYSE:IQV) last announced its earnings results on Tuesday, May 6th. The medical research company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.07. The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.77 billion. IQVIA had a net margin of 8.91% and a return on equity of 28.81%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.54 earnings per share. Sell-side analysts predict that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on IQV. UBS Group reduced their price target on shares of IQVIA from $255.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday. Truist Financial decreased their price target on shares of IQVIA from $263.00 to $216.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Robert W. Baird reduced their price objective on IQVIA from $195.00 to $161.00 and set a “neutral” rating for the company in a research note on Wednesday. Morgan Stanley lifted their target price on IQVIA from $245.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Finally, Barclays lowered their price objective on IQVIA from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Eight analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $231.71.

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.