Royal Bank of Canada Grows Stock Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Royal Bank of Canada raised its position in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 472,186 shares of the medical research company's stock after acquiring an additional 18,911 shares during the quarter. Royal Bank of Canada owned approximately 0.26% of IQVIA worth $92,789,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of IQV. JPMorgan Chase & Co. increased its position in shares of IQVIA by 46.2% during 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 buying an additional 583,396 shares during the period. Merit Financial Group LLC increased its position in shares of IQVIA by 32.8% during the fourth quarter. Merit Financial Group LLC now owns 4,293 shares of the medical research company's stock valued at $844,000 after buying an additional 1,060 shares during the period. Client 1ST Advisory Group LLC purchased a new position in shares of IQVIA during the fourth quarter valued at about $614,000. UMB Bank n.a. increased its position in shares of IQVIA by 72.8% during the fourth quarter. UMB Bank n.a. now owns 401 shares of the medical research company's stock valued at $79,000 after buying an additional 169 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of IQVIA by 16.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,172 shares of the medical research company's stock valued at $230,000 after buying an additional 169 shares during the period. Hedge funds and other institutional investors own 89.62% of the company's stock.

IQVIA Stock Up 0.4%

Shares of IQV stock opened at $143.32 on Tuesday. IQVIA Holdings Inc. has a 12 month low of $135.97 and a 12 month high of $252.88. The stock has a market cap of $24.79 billion, a P/E ratio of 19.11, a P/E/G ratio of 1.99 and a beta of 1.34. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.12. The company has a 50 day simple moving average of $158.99 and a two-hundred day simple moving average of $185.26.

IQVIA (NYSE:IQV - Get Free Report) last announced its earnings results on Tuesday, May 6th. The medical research company reported $2.70 EPS 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 business had revenue of $3.83 billion during the quarter, compared to analysts' expectations of $3.77 billion. During the same period in the prior year, the company earned $2.54 earnings per share. The firm's revenue was up 2.5% on a year-over-year basis. On average, research analysts expect that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on IQV shares. Royal Bank of Canada reissued an "outperform" rating and set a $270.00 price objective on shares of IQVIA in a research note on Monday, February 10th. Mizuho dropped their price objective on shares of IQVIA from $210.00 to $190.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Stifel Nicolaus dropped their price objective on shares of IQVIA from $273.00 to $261.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. UBS Group dropped their price objective on shares of IQVIA from $255.00 to $185.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, HSBC lowered shares of IQVIA from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $260.00 to $160.00 in a research note on Friday, April 25th. 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 stock. Based on data from MarketBeat.com, IQVIA presently has an average rating of "Moderate Buy" and a consensus price target of $228.14.

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.

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