LGT Group Foundation Reduces Stock Holdings in IQVIA Holdings Inc. (NYSE:IQV)

LGT Group Foundation reduced its stake in IQVIA Holdings Inc. (NYSE:IQV) by 88.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,415 shares of the medical research company’s stock after selling 178,799 shares during the period. LGT Group Foundation’s holdings in IQVIA were worth $4,798,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE boosted its holdings in shares of IQVIA by 62.2% in the third quarter. US Bancorp DE now owns 27,061 shares of the medical research company’s stock valued at $6,413,000 after acquiring an additional 10,379 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of IQVIA by 35.2% in the third quarter. Farther Finance Advisors LLC now owns 407 shares of the medical research company’s stock valued at $96,000 after acquiring an additional 106 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in shares of IQVIA in the third quarter valued at approximately $218,000. Optas LLC acquired a new stake in shares of IQVIA in the third quarter valued at approximately $210,000. Finally, Conning Inc. acquired a new stake in shares of IQVIA in the third quarter valued at approximately $206,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IQV has been the subject of several research analyst reports. StockNews.com downgraded IQVIA from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. William Blair reissued an “outperform” rating on shares of IQVIA in a report on Wednesday, December 11th. Morgan Stanley increased their price target on IQVIA from $245.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. UBS Group decreased their price target on IQVIA from $260.00 to $255.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, Barclays decreased their price target on IQVIA from $255.00 to $235.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, IQVIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $251.22.

IQVIA Price Performance

IQVIA stock opened at $184.67 on Tuesday. IQVIA Holdings Inc. has a one year low of $184.06 and a one year high of $261.73. The company has a market cap of $32.52 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 1.99 and a beta of 1.48. The business has a fifty day moving average of $198.84 and a two-hundred day moving average of $214.25. 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 announced its quarterly earnings results on Thursday, February 6th. The medical research company reported $2.90 earnings per share for the quarter, missing analysts’ consensus estimates of $3.11 by ($0.21). IQVIA had a net margin of 8.91% and a return on equity of 28.81%. As a group, analysts predict that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal 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.