Sawgrass Asset Management LLC Buys 22,367 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Sawgrass Asset Management LLC lifted its stake in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 44.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 72,906 shares of the medical research company's stock after buying an additional 22,367 shares during the period. IQVIA comprises 1.6% of Sawgrass Asset Management LLC's portfolio, making the stock its 17th biggest holding. Sawgrass Asset Management LLC's holdings in IQVIA were worth $12,853,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in IQV. Flagship Harbor Advisors LLC acquired a new position in IQVIA in the first quarter worth about $324,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in IQVIA in the first quarter worth about $924,000. Kentucky Retirement Systems raised its position in IQVIA by 3.4% in the first quarter. Kentucky Retirement Systems now owns 12,305 shares of the medical research company's stock worth $2,169,000 after purchasing an additional 404 shares in the last quarter. Running Oak Capital LLC raised its position in IQVIA by 35.2% in the first quarter. Running Oak Capital LLC now owns 82,342 shares of the medical research company's stock worth $14,517,000 after purchasing an additional 21,444 shares in the last quarter. Finally, Aspire Private Capital LLC raised its position in IQVIA by 355.3% in the first quarter. Aspire Private Capital LLC now owns 6,228 shares of the medical research company's stock worth $1,098,000 after purchasing an additional 4,860 shares in the last quarter. Institutional investors own 89.62% of the company's stock.

Wall Street Analysts Forecast Growth

IQV has been the subject of several recent research reports. JPMorgan Chase & Co. dropped 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. Barclays dropped 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. 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 report on Friday, April 25th. Mizuho dropped their price objective on shares of IQVIA from $210.00 to $190.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. Finally, Hsbc Global Res lowered shares of IQVIA from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Eight equities research 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $226.32.

IQVIA Stock Up 0.2%

IQVIA stock opened at $154.96 on Monday. IQVIA Holdings Inc. has a 1-year low of $134.65 and a 1-year high of $252.88. The firm has a market capitalization of $26.81 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. The firm's fifty day moving average price is $148.21 and its two-hundred day moving average price is $175.74. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.19.

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 8.61% and a return on equity of 29.16%. 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. On average, equities research analysts predict that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal 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.

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