Edgestream Partners L.P. Purchases 14,657 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Edgestream Partners L.P. increased its stake in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 44.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,557 shares of the medical research company's stock after purchasing an additional 14,657 shares during the period. Edgestream Partners L.P.'s holdings in IQVIA were worth $8,384,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IQV. Norges Bank purchased a new stake in IQVIA during the fourth quarter valued at approximately $336,041,000. American Century Companies Inc. increased its holdings in IQVIA by 396.0% during 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 during the last quarter. Invesco Ltd. increased its holdings in IQVIA by 53.4% during the fourth quarter. Invesco Ltd. now owns 2,590,260 shares of the medical research company's stock valued at $509,012,000 after buying an additional 902,226 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in IQVIA by 20.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 4,282,024 shares of the medical research company's stock valued at $841,461,000 after buying an additional 712,958 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in IQVIA by 211.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 965,302 shares of the medical research company's stock valued at $189,691,000 after buying an additional 655,153 shares during the last quarter. 89.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on IQV shares. Truist Financial reduced their target price on shares of IQVIA from $263.00 to $216.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Mizuho reduced their price objective on shares of IQVIA from $210.00 to $190.00 and set an "outperform" rating for the company in a research note on Thursday, May 15th. Evercore ISI increased their price objective on shares of IQVIA from $170.00 to $180.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Citigroup reissued a "neutral" rating on shares of IQVIA in a research note on Thursday, May 22nd. Finally, HSBC cut shares of IQVIA from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $260.00 to $160.00 in a research note on Friday, April 25th. Eight 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $222.45.

IQVIA Price Performance

IQV stock traded down $2.42 during trading on Tuesday, hitting $157.71. 2,406,090 shares of the company's stock traded hands, compared to its average volume of 1,664,569. IQVIA Holdings Inc. has a 52 week low of $134.65 and a 52 week high of $252.88. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.82 and a current ratio of 0.82. The business has a fifty day simple moving average of $152.11 and a 200 day simple moving average of $171.51. The stock has a market capitalization of $27.28 billion, a price-to-earnings ratio of 21.49, a P/E/G ratio of 1.78 and a beta of 1.30.

IQVIA (NYSE:IQV - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The medical research company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.63 by $0.07. IQVIA had a net margin of 8.61% and a return on equity of 29.16%. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the business earned $2.54 earnings per share. IQVIA's quarterly revenue was up 2.5% compared to the same quarter last year. As a group, research analysts expect that IQVIA Holdings Inc. will post 10.84 EPS for the current fiscal year.

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.