Parnassus Investments LLC Decreases Stock Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Parnassus Investments LLC decreased its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 334,178 shares of the medical research company’s stock after selling 18,365 shares during the quarter. Parnassus Investments LLC owned about 0.18% of IQVIA worth $65,669,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Smith Group Asset Management LLC purchased a new stake in shares of IQVIA during the 4th quarter valued at about $1,616,000. Simplify Asset Management Inc. raised its position in IQVIA by 67.8% during the third quarter. Simplify Asset Management Inc. now owns 9,637 shares of the medical research company’s stock valued at $2,284,000 after purchasing an additional 3,894 shares during the period. Nordea Investment Management AB raised its position in IQVIA by 47.4% during the fourth quarter. Nordea Investment Management AB now owns 1,405,281 shares of the medical research company’s stock valued at $277,908,000 after purchasing an additional 452,029 shares during the period. Hickory Asset Management Inc. purchased a new stake in IQVIA during the fourth quarter valued at approximately $941,000. Finally, Fifth Third Bancorp raised its position in IQVIA by 13.0% during the fourth quarter. Fifth Third Bancorp now owns 13,179 shares of the medical research company’s stock valued at $2,590,000 after purchasing an additional 1,521 shares during the period. Hedge funds and other institutional investors own 89.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Stifel Nicolaus decreased their price target on IQVIA from $273.00 to $261.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Citigroup reduced their target price on shares of IQVIA from $225.00 to $210.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Leerink Partners reissued an “outperform” rating and issued a $248.00 price objective (down from $260.00) on shares of IQVIA in a research report on Tuesday, November 19th. Truist Financial reissued a “buy” rating and issued a $263.00 price objective (up from $261.00) on shares of IQVIA in a research report on Monday, February 10th. Finally, UBS Group reduced their price target on IQVIA from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Five 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. Based on data from MarketBeat, IQVIA has an average rating of “Moderate Buy” and an average target price of $249.05.

IQVIA Trading Down 2.1 %

NYSE IQV opened at $181.53 on Friday. The company’s 50-day simple moving average is $196.87 and its two-hundred day simple moving average is $211.38. IQVIA Holdings Inc. has a one year low of $179.28 and a one year high of $256.76. The company has a market capitalization of $32.01 billion, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 1.99 and a beta of 1.50. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.84 and a current ratio of 0.84.

IQVIA (NYSE:IQV) last issued its quarterly earnings data on Thursday, February 6th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.11 by ($0.21). IQVIA had a net margin of 8.91% and a return on equity of 28.81%. Equities analysts forecast that IQVIA Holdings Inc. will post 10.84 EPS 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.