Allspring Global Investments Holdings LLC Lowers Stock Holdings in IQVIA Holdings Inc. $IQV

Allspring Global Investments Holdings LLC lowered its stake in IQVIA Holdings Inc. (NYSE:IQV) by 72.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,654 shares of the medical research company’s stock after selling 19,991 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in IQVIA were worth $1,245,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of IQVIA by 244.4% in the 4th quarter. Brighton Jones LLC now owns 3,575 shares of the medical research company’s stock worth $703,000 after purchasing an additional 2,537 shares during the period. GAMMA Investing LLC lifted its position in shares of IQVIA by 56.3% during the first quarter. GAMMA Investing LLC now owns 2,197 shares of the medical research company’s stock worth $387,000 after purchasing an additional 791 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in IQVIA by 34.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,259 shares of the medical research company’s stock valued at $2,338,000 after purchasing an additional 3,398 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in IQVIA during the 1st quarter worth $324,000. Finally, Asset Management One Co. Ltd. grew its stake in IQVIA by 7.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 73,712 shares of the medical research company’s stock valued at $12,995,000 after acquiring an additional 4,963 shares during the last quarter. 89.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IQV has been the topic of a number of research analyst reports. Cowen reaffirmed a “buy” rating on shares of IQVIA in a report on Wednesday, July 23rd. Evercore ISI lifted their price target on shares of IQVIA from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Redburn Partners set a $214.00 price target on shares of IQVIA in a report on Wednesday, September 3rd. Truist Financial increased their price objective on shares of IQVIA from $209.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Finally, William Blair restated an “outperform” rating on shares of IQVIA in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $234.57.

IQVIA Stock Performance

Shares of IQVIA stock opened at $218.04 on Thursday. IQVIA Holdings Inc. has a twelve month low of $134.65 and a twelve month high of $231.34. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 2.45. The company’s fifty day moving average is $193.27 and its 200 day moving average is $170.28. The stock has a market cap of $37.07 billion, a price-to-earnings ratio of 31.55, a P/E/G ratio of 2.40 and a beta of 1.32.

IQVIA (NYSE:IQV) last posted its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.04. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.96 billion. IQVIA had a net margin of 7.88% and a return on equity of 30.05%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.64 earnings per share. Sell-side analysts forecast that IQVIA Holdings Inc. will post 10.84 EPS 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.