Fairtree Asset Management Pty Ltd Takes Position in IQVIA Holdings Inc. (NYSE:IQV)

Fairtree Asset Management Pty Ltd bought a new position in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,559 shares of the medical research company's stock, valued at approximately $503,000.

Other hedge funds have also made changes to their positions in the company. Smith Group Asset Management LLC acquired a new stake in IQVIA in the fourth quarter valued at about $1,616,000. Hickory Asset Management Inc. acquired a new stake in IQVIA in the fourth quarter valued at about $941,000. Fifth Third Bancorp lifted its position in IQVIA by 13.0% in the fourth quarter. Fifth Third Bancorp now owns 13,179 shares of the medical research company's stock valued at $2,590,000 after purchasing an additional 1,521 shares during the period. Graphene Investments SAS lifted its position in IQVIA by 22.0% in the fourth quarter. Graphene Investments SAS now owns 15,000 shares of the medical research company's stock valued at $2,948,000 after purchasing an additional 2,700 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in IQVIA by 46.2% in the third quarter. JPMorgan Chase & Co. now owns 1,845,711 shares of the medical research company's stock valued at $437,378,000 after purchasing an additional 583,396 shares during the period. Institutional investors and hedge funds own 89.62% of the company's stock.

Wall Street Analysts Forecast Growth

IQV has been the subject of a number of research reports. Morgan Stanley lifted their price target on shares of IQVIA from $245.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. Mizuho reduced their price target on shares of IQVIA from $210.00 to $190.00 and set an "outperform" rating for the company in a research report on Thursday, May 15th. Barclays reduced their price target on shares of IQVIA from $170.00 to $165.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Stifel Nicolaus reduced their price target on shares of IQVIA from $273.00 to $261.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of IQVIA from $232.00 to $177.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.32.

IQVIA Trading Down 0.6%

IQV stock traded down $0.86 during midday trading on Friday, hitting $140.16. The stock had a trading volume of 2,874,682 shares, compared to its average volume of 1,578,625. The firm has a market cap of $24.25 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 1.99 and a beta of 1.34. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.84 and a quick ratio of 0.84. IQVIA Holdings Inc. has a 12-month low of $134.65 and a 12-month high of $252.88. The company's 50-day moving average price is $151.61 and its 200 day moving average price is $181.44.

IQVIA (NYSE:IQV - Get Free Report) last released its earnings results 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. The firm had revenue of $3.83 billion during the quarter, compared to analysts' expectations of $3.77 billion. IQVIA had a net margin of 8.91% and a return on equity of 28.81%. IQVIA's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.54 EPS. On average, equities research analysts predict that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal year.

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.