EverSource Wealth Advisors LLC Increases Stock Holdings in IQVIA Holdings Inc. (NYSE:IQV)

EverSource Wealth Advisors LLC raised its stake in IQVIA Holdings Inc. (NYSE:IQV) by 8.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,280 shares of the medical research company’s stock after purchasing an additional 98 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in IQVIA were worth $297,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of IQVIA in the fourth quarter valued at approximately $383,705,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of IQVIA by 339.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,067,195 shares of the medical research company’s stock valued at $478,308,000 after buying an additional 1,597,003 shares in the last quarter. Morningstar Investment Services LLC boosted its stake in shares of IQVIA by 96.9% in the fourth quarter. Morningstar Investment Services LLC now owns 1,231,916 shares of the medical research company’s stock valued at $286,704,000 after buying an additional 606,333 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of IQVIA by 42.2% in the fourth quarter. Capital Research Global Investors now owns 1,995,269 shares of the medical research company’s stock valued at $461,675,000 after buying an additional 592,372 shares in the last quarter. Finally, Cadian Capital Management LP purchased a new stake in shares of IQVIA in the fourth quarter valued at approximately $70,108,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

IQVIA Stock Performance

Shares of NYSE IQV traded down $6.58 during mid-day trading on Friday, hitting $241.78. The company had a trading volume of 1,141,380 shares, compared to its average volume of 1,284,778. The firm’s 50 day simple moving average is $221.77 and its two-hundred day simple moving average is $230.50. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $44.05 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 2.35 and a beta of 1.49. IQVIA Holdings Inc. has a 12 month low of $167.42 and a 12 month high of $261.73.

IQVIA (NYSE:IQV) last posted its quarterly earnings data on Monday, July 22nd. The medical research company reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.07. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the business earned $2.22 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that IQVIA Holdings Inc. will post 10.21 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on IQV. Morgan Stanley lifted their price target on IQVIA from $270.00 to $280.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group downgraded IQVIA from a “buy” rating to a “hold” rating and reduced their target price for the stock from $266.00 to $242.00 in a research report on Wednesday, July 24th. Argus upgraded IQVIA to a “strong-buy” rating in a report on Wednesday. The Goldman Sachs Group assumed coverage on IQVIA in a report on Thursday, June 6th. They issued a “buy” rating and a $270.00 price objective on the stock. Finally, Barclays raised their price objective on IQVIA from $255.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, IQVIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.40.

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.