Bank of America Corp DE Acquires 291,816 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Bank of America Corp DE boosted its stake in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 30.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,255,535 shares of the medical research company's stock after buying an additional 291,816 shares during the period. Bank of America Corp DE owned about 0.69% of IQVIA worth $246,725,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of IQV. Vanguard Group Inc. raised its holdings in shares of IQVIA by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 20,131,734 shares of the medical research company's stock valued at $3,956,087,000 after acquiring an additional 105,504 shares during the period. Canada Pension Plan Investment Board raised its stake in IQVIA by 20.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 4,282,024 shares of the medical research company's stock valued at $841,461,000 after purchasing an additional 712,958 shares during the period. Geode Capital Management LLC lifted its holdings in shares of IQVIA by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 4,175,524 shares of the medical research company's stock valued at $818,315,000 after purchasing an additional 77,981 shares in the last quarter. Invesco Ltd. boosted its position 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 buying an additional 902,226 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of IQVIA by 2.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438,726 shares of the medical research company's stock valued at $481,380,000 after buying an additional 59,426 shares in the last quarter. 89.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IQV. Robert W. Baird reduced their price objective on IQVIA from $195.00 to $161.00 and set a "neutral" rating for the company in a research note on Wednesday. Barclays lowered their price objective on shares of IQVIA from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Citigroup decreased their target price on shares of IQVIA from $225.00 to $210.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Hsbc Global Res downgraded shares of IQVIA from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. reduced their price objective on IQVIA from $240.00 to $232.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. Eight analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, IQVIA presently has an average rating of "Moderate Buy" and a consensus price target of $231.71.

IQVIA Stock Performance

Shares of NYSE:IQV traded down $4.39 during midday trading on Friday, hitting $148.90. The company's stock had a trading volume of 1,677,229 shares, compared to its average volume of 1,469,448. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.84 and a current ratio of 0.84. The stock's 50 day simple moving average is $163.91 and its 200 day simple moving average is $188.09. The stock has a market capitalization of $25.76 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 1.99 and a beta of 1.34. IQVIA Holdings Inc. has a fifty-two week low of $135.97 and a fifty-two week high of $252.88.

IQVIA (NYSE:IQV - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The medical research company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.07. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.77 billion. IQVIA had a return on equity of 28.81% and a net margin of 8.91%. The company's quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.54 earnings per share. As a group, research analysts anticipate that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

About IQVIA

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.