California Public Employees Retirement System Sells 21,184 Shares of IQVIA Holdings Inc. (NYSE:IQV)

California Public Employees Retirement System lowered its position in shares of IQVIA Holdings Inc. (NYSE:IQV) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 327,430 shares of the medical research company’s stock after selling 21,184 shares during the period. California Public Employees Retirement System owned approximately 0.18% of IQVIA worth $64,343,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Smith Group Asset Management LLC bought a new stake in shares of IQVIA in the fourth quarter worth approximately $1,616,000. Nordea Investment Management AB boosted its holdings in IQVIA by 47.4% in the fourth quarter. Nordea Investment Management AB now owns 1,405,281 shares of the medical research company’s stock worth $277,908,000 after purchasing an additional 452,029 shares during the last quarter. Hickory Asset Management Inc. bought a new stake in IQVIA in the 4th quarter worth approximately $941,000. Fifth Third Bancorp raised its stake in IQVIA by 13.0% during the 4th quarter. Fifth Third Bancorp now owns 13,179 shares of the medical research company’s stock valued at $2,590,000 after buying an additional 1,521 shares during the last quarter. Finally, Graphene Investments SAS lifted its holdings in shares of IQVIA by 22.0% during the 4th quarter. Graphene Investments SAS now owns 15,000 shares of the medical research company’s stock valued at $2,948,000 after buying an additional 2,700 shares during the period. 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 a number of research reports. Bank of America reduced their price objective on IQVIA from $255.00 to $235.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Morgan Stanley upped their price target on shares of IQVIA from $245.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. StockNews.com downgraded shares of IQVIA from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Robert W. Baird reduced their target price on shares of IQVIA from $212.00 to $210.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Finally, Truist Financial reiterated a “buy” rating and set a $263.00 price target (up previously from $261.00) on shares of IQVIA in a research note on Monday, February 10th. Five research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $249.05.

IQVIA Stock Down 2.9 %

Shares of IQV opened at $171.11 on Wednesday. The business’s 50 day moving average is $192.05 and its 200 day moving average is $205.13. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.12. IQVIA Holdings Inc. has a 12-month low of $169.37 and a 12-month high of $252.88. The company has a market capitalization of $30.17 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 1.99 and a beta of 1.50.

IQVIA (NYSE:IQV) last released 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%. Research analysts expect 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.