Allspring Global Investments Holdings LLC Lowers Stake in IQVIA Holdings Inc. (NYSE:IQV)

Allspring Global Investments Holdings LLC decreased its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 56.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 27,645 shares of the medical research company's stock after selling 36,357 shares during the period. Allspring Global Investments Holdings LLC's holdings in IQVIA were worth $4,734,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Continuum Advisory LLC increased its stake in IQVIA by 3.7% during the 4th quarter. Continuum Advisory LLC now owns 1,803 shares of the medical research company's stock valued at $354,000 after purchasing an additional 64 shares in the last quarter. ST Germain D J Co. Inc. increased its position in shares of IQVIA by 66.1% in the 1st quarter. ST Germain D J Co. Inc. now owns 191 shares of the medical research company's stock valued at $34,000 after acquiring an additional 76 shares during the period. Zions Bancorporation N.A. raised its stake in IQVIA by 55.2% in the 4th 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 last quarter. Quadrant Capital Group LLC lifted its position in IQVIA by 10.7% during the 4th quarter. Quadrant Capital Group LLC now owns 928 shares of the medical research company's stock worth $182,000 after acquiring an additional 90 shares during the period. Finally, Utah Retirement Systems grew its stake in IQVIA by 0.3% during the 4th quarter. Utah Retirement Systems now owns 29,959 shares of the medical research company's stock valued at $5,887,000 after purchasing an additional 100 shares during the last quarter. 89.62% of the stock is owned by hedge funds and other institutional investors.

IQVIA Price Performance

IQV traded down $1.67 on Monday, reaching $162.57. 1,489,122 shares of the company's stock were exchanged, compared to its average volume of 1,652,666. IQVIA Holdings Inc. has a twelve month low of $134.65 and a twelve month high of $252.88. The stock has a market cap of $28.12 billion, a PE ratio of 22.15, a P/E/G ratio of 1.82 and a beta of 1.30. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.82 and a quick ratio of 0.82. The stock's fifty day moving average price is $150.86 and its 200-day moving average price is $173.03.

IQVIA (NYSE:IQV - Get Free Report) last issued its earnings results on Tuesday, May 6th. The medical research company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.07. IQVIA had a return on equity of 29.16% and a net margin of 8.61%. The business had revenue of $3.83 billion for the quarter, compared to analysts' expectations of $3.77 billion. During the same period in the previous year, the firm posted $2.54 EPS. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. Sell-side analysts expect that IQVIA Holdings Inc. will post 10.84 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on IQV. Truist Financial dropped their target price on 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 dropped their price objective on shares of IQVIA from $195.00 to $161.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. JPMorgan Chase & Co. reduced their target price on shares of IQVIA from $232.00 to $177.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Redburn Partners set a $188.00 price target on shares of IQVIA in a report on Friday, May 23rd. Finally, Citigroup reiterated a "neutral" rating on shares of IQVIA in a research note on Thursday, May 22nd. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, IQVIA presently has an average rating of "Moderate Buy" and an average target price of $226.32.

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.