Principal Financial Group Inc. Sells 6,398 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Principal Financial Group Inc. cut its position in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 3.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 193,467 shares of the medical research company's stock after selling 6,398 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of IQVIA worth $34,108,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of IQVIA in the fourth quarter worth approximately $336,041,000. American Century Companies Inc. grew its stake in shares of IQVIA by 396.0% in the fourth 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. grew its stake in shares of IQVIA by 53.4% in the fourth 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. Canada Pension Plan Investment Board grew its stake in shares of IQVIA by 20.0% in the fourth 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. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of IQVIA by 211.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 965,302 shares of the medical research company's stock worth $189,691,000 after acquiring an additional 655,153 shares during the period. 89.62% of the stock is owned by hedge funds and other institutional investors.

IQVIA Price Performance

IQVIA stock traded down $2.80 during mid-day trading on Friday, reaching $162.73. 1,156,699 shares of the company's stock traded hands, compared to its average volume of 1,659,159. The company has a market cap of $28.15 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 1.84 and a beta of 1.30. The stock has a 50 day moving average of $151.77 and a two-hundred day moving average of $172.43. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.19. IQVIA Holdings Inc. has a 12-month low of $134.65 and a 12-month high of $252.88.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on IQV. 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 note on Monday, May 19th. Mizuho cut their target price 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 cut their target price 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. Hsbc Global Res lowered shares of IQVIA from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Finally, Truist Financial cut their target price on shares of IQVIA from $263.00 to $216.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Eight equities research 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $222.45.

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.