IQVIA Holdings Inc. (NYSE:IQV) Sees Large Decline in Short Interest

IQVIA Holdings Inc. (NYSE:IQV) was the target of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 2,810,000 shares, a decrease of 9.6% from the November 30th total of 3,110,000 shares. Approximately 1.6% of the company’s shares are sold short. Based on an average daily trading volume, of 1,520,000 shares, the short-interest ratio is presently 1.8 days.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IQV. TD Cowen dropped their price objective on shares of IQVIA from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Friday, November 1st. JPMorgan Chase & Co. dropped their price target on shares of IQVIA from $279.00 to $240.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Truist Financial decreased their price target on shares of IQVIA from $265.00 to $261.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Robert W. Baird dropped their price objective on IQVIA from $213.00 to $212.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on IQVIA from $270.00 to $265.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $255.82.

IQVIA Stock Performance

Shares of IQV stock traded down $0.94 on Wednesday, hitting $196.51. 718,908 shares of the stock traded hands, compared to its average volume of 1,193,056. The company’s fifty day moving average is $204.17 and its 200 day moving average is $222.49. IQVIA has a 1-year low of $187.62 and a 1-year high of $261.73. The company has a market capitalization of $35.67 billion, a PE ratio of 25.79, a PEG ratio of 2.05 and a beta of 1.49. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.81 and a quick ratio of 0.81.

Institutional Trading of IQVIA

Hedge funds have recently made changes to their positions in the stock. First Foundation Advisors grew its position in IQVIA by 3.8% in the 2nd quarter. First Foundation Advisors now owns 1,161 shares of the medical research company’s stock worth $245,000 after purchasing an additional 43 shares during the last quarter. Invera Wealth Advisors LLC increased its position in IQVIA by 0.3% in the 2nd quarter. Invera Wealth Advisors LLC now owns 14,506 shares of the medical research company’s stock valued at $3,183,000 after acquiring an additional 46 shares during the period. Private Trust Co. NA raised its stake in IQVIA by 10.7% during the 3rd quarter. Private Trust Co. NA now owns 485 shares of the medical research company’s stock valued at $115,000 after acquiring an additional 47 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in IQVIA by 0.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 15,668 shares of the medical research company’s stock worth $3,313,000 after acquiring an additional 48 shares during the period. Finally, Clear Harbor Asset Management LLC grew its stake in shares of IQVIA by 1.3% in the third quarter. Clear Harbor Asset Management LLC now owns 3,969 shares of the medical research company’s stock worth $941,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 89.62% of the company’s stock.

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.