NorthRock Partners LLC Buys New Position in IQVIA Holdings Inc. (NYSE:IQV)

NorthRock Partners LLC acquired a new position in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,020 shares of the medical research company's stock, valued at approximately $397,000.

A number of other hedge funds have also recently bought and sold shares of IQV. Norges Bank bought a new stake in shares of IQVIA during the 4th quarter worth $336,041,000. Raymond James Financial Inc. bought a new stake in IQVIA in the 4th quarter valued at about $236,120,000. American Century Companies Inc. increased its position in shares of IQVIA by 396.0% during the fourth quarter. American Century Companies Inc. now owns 1,134,737 shares of the medical research company's stock valued at $222,987,000 after buying an additional 905,960 shares during the period. Invesco Ltd. increased its position in shares of IQVIA by 53.4% during the fourth quarter. Invesco Ltd. now owns 2,590,260 shares of the medical research company's stock valued at $509,012,000 after buying an additional 902,226 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of IQVIA by 20.0% during the fourth 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 buying an additional 712,958 shares during the period. 89.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IQV shares. UBS Group decreased their price target on IQVIA from $255.00 to $185.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. StockNews.com cut IQVIA from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Truist Financial decreased their price target on IQVIA from $263.00 to $216.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Barclays decreased their price target on IQVIA from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. cut their price objective on IQVIA from $232.00 to $177.00 and set an "overweight" rating for the company in a report on Monday. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, IQVIA currently has a consensus rating of "Moderate Buy" and a consensus target price of $228.14.

IQVIA Price Performance

IQV traded up $1.36 during midday trading on Tuesday, hitting $144.90. The stock had a trading volume of 4,613,523 shares, compared to its average volume of 1,533,036. The company has a market cap of $25.07 billion, a P/E ratio of 19.32, a price-to-earnings-growth ratio of 1.99 and a beta of 1.34. IQVIA Holdings Inc. has a 1 year low of $135.97 and a 1 year high of $252.88. 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 business has a fifty day moving average of $158.99 and a 200 day moving average of $185.26.

IQVIA (NYSE:IQV - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $3.83 billion during 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 business's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.54 earnings per share. As a group, equities analysts forecast that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal year.

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.