Mackenzie Financial Corp Decreases Stake in IQVIA Holdings Inc. (NYSE:IQV)

Mackenzie Financial Corp trimmed its position in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 58.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,176 shares of the medical research company's stock after selling 63,216 shares during the quarter. Mackenzie Financial Corp's holdings in IQVIA were worth $8,878,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new position in shares of IQVIA during the fourth quarter worth approximately $33,000. GKV Capital Management Co. Inc. bought a new position in shares of IQVIA during the fourth quarter worth approximately $39,000. Lee Danner & Bass Inc. acquired a new position in IQVIA in the fourth quarter valued at about $44,000. Zions Bancorporation N.A. raised its stake in IQVIA by 55.2% in the fourth quarter. Zions Bancorporation N.A. now owns 239 shares of the medical research company's stock valued at $47,000 after purchasing an additional 85 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in IQVIA in the fourth quarter valued at about $60,000. 89.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. HSBC downgraded IQVIA from a "buy" rating to a "hold" rating and dropped their price target for the company from $260.00 to $160.00 in a research note on Friday, April 25th. UBS Group reduced their target price on IQVIA from $255.00 to $185.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Stifel Nicolaus reduced their target price on IQVIA from $273.00 to $261.00 and set a "buy" rating on the stock in a report on Friday, February 7th. BTIG Research downgraded shares of IQVIA from a "buy" rating to a "neutral" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley raised their price target on shares of IQVIA from $245.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Eight investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $226.32.

IQVIA Stock Down 0.6%

Shares of IQVIA stock traded down $0.86 on Friday, hitting $140.16. The company had a trading volume of 2,874,682 shares, compared to its average volume of 1,576,917. The stock has a market capitalization of $24.25 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 1.99 and a beta of 1.34. IQVIA Holdings Inc. has a 1 year low of $134.65 and a 1 year high of $252.88. The stock has a 50 day moving average of $151.61 and a 200-day moving average of $181.44. 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 (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 for the quarter, beating analysts' consensus estimates of $2.63 by $0.07. IQVIA had a net margin of 8.91% and a return on equity of 28.81%. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the firm earned $2.54 earnings per share. The firm's revenue was up 2.5% on a year-over-year basis. As a group, sell-side analysts forecast that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

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.