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

LGT Group Foundation lessened its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 88.0% in the fourth quarter, HoldingsChannel reports. The firm owned 24,415 shares of the medical research company’s stock after selling 178,799 shares during the quarter. LGT Group Foundation’s holdings in IQVIA were worth $4,798,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in IQVIA during the 3rd quarter worth about $27,000. Avior Wealth Management LLC increased its position in IQVIA by 117.6% during the 3rd quarter. Avior Wealth Management LLC now owns 161 shares of the medical research company’s stock worth $38,000 after purchasing an additional 87 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in IQVIA during the 4th quarter worth about $33,000. Assetmark Inc. increased its position in IQVIA by 612.5% during the 3rd quarter. Assetmark Inc. now owns 228 shares of the medical research company’s stock worth $54,000 after purchasing an additional 196 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in IQVIA during the 3rd quarter worth about $57,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.

IQVIA Stock Performance

IQVIA stock opened at $184.67 on Tuesday. The stock’s 50 day moving average price is $198.84 and its 200 day moving average price is $214.25. The firm has a market capitalization of $32.52 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 1.99 and a beta of 1.48. 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 Holdings Inc. has a one year low of $184.06 and a one year high of $261.73.

IQVIA (NYSE:IQV) last released its quarterly earnings results on Thursday, February 6th. The medical research company reported $2.90 EPS for the quarter, missing the consensus estimate of $3.11 by ($0.21). IQVIA had a return on equity of 28.81% and a net margin of 8.91%. As a group, sell-side analysts expect that IQVIA Holdings Inc. will post 10.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IQV has been the subject of a number of recent research reports. BTIG Research cut IQVIA from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. William Blair reissued an “outperform” rating on shares of IQVIA in a research note on Wednesday, December 11th. Morgan Stanley raised their price target on IQVIA from $245.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. UBS Group decreased their price target on IQVIA from $260.00 to $255.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Barclays decreased their price target on IQVIA from $255.00 to $235.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Four 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 company. According to data from MarketBeat.com, IQVIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.22.

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.