Avanza Fonder AB Cuts Stock Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Avanza Fonder AB decreased its holdings in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 23.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,761 shares of the medical research company's stock after selling 3,210 shares during the quarter. Avanza Fonder AB's holdings in IQVIA were worth $1,876,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in IQV. Norges Bank acquired a new stake in shares of IQVIA in the 4th quarter worth $336,041,000. Raymond James Financial Inc. acquired a new stake in IQVIA during the 4th quarter worth about $236,120,000. American Century Companies Inc. lifted its position in IQVIA by 396.0% during the 4th quarter. American Century Companies Inc. now owns 1,134,737 shares of the medical research company's stock worth $222,987,000 after acquiring an additional 905,960 shares during the period. Invesco Ltd. lifted its position in IQVIA by 53.4% during the 4th quarter. Invesco Ltd. now owns 2,590,260 shares of the medical research company's stock worth $509,012,000 after acquiring an additional 902,226 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in IQVIA by 20.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 4,282,024 shares of the medical research company's stock worth $841,461,000 after acquiring an additional 712,958 shares during the period. Institutional investors and hedge funds own 89.62% of the company's stock.

IQVIA Price Performance

Shares of IQVIA stock traded down $2.48 on Friday, hitting $156.65. The company's stock had a trading volume of 1,473,864 shares, compared to its average volume of 1,619,178. 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 Holdings Inc. has a 1 year low of $134.65 and a 1 year high of $252.88. The firm has a fifty day moving average price of $147.59 and a 200-day moving average price of $177.51. The company has a market capitalization of $27.10 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 1.99 and a beta of 1.28.

IQVIA (NYSE:IQV - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The medical research company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.63 by $0.07. IQVIA had a return on equity of 28.81% and a net margin of 8.91%. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period in the previous year, the business earned $2.54 EPS. IQVIA's quarterly revenue was up 2.5% on a year-over-year basis. As a group, sell-side analysts anticipate that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IQV has been the subject of a number of research reports. Barclays lowered their price target on IQVIA from $170.00 to $165.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. HSBC cut IQVIA from a "buy" rating to a "hold" rating and lowered their price target for the stock from $260.00 to $160.00 in a research report on Friday, April 25th. JPMorgan Chase & Co. lowered their price target on IQVIA from $232.00 to $177.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Citigroup reaffirmed a "neutral" rating on shares of IQVIA in a research report on Thursday, May 22nd. Finally, Mizuho lowered their price target on IQVIA from $210.00 to $190.00 and set an "outperform" rating for the company in a research report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, IQVIA has a consensus rating of "Moderate Buy" and a consensus price target of $226.32.

About IQVIA

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.