First Citizens Bank & Trust Co. Sells 1,221 Shares of IQVIA Holdings Inc. (NYSE:IQV)

First Citizens Bank & Trust Co. lessened its holdings in IQVIA Holdings Inc. (NYSE:IQV) by 38.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,954 shares of the medical research company’s stock after selling 1,221 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in IQVIA were worth $344,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. American National Bank & Trust bought a new stake in IQVIA during the first quarter worth $26,000. ST Germain D J Co. Inc. raised its position in IQVIA by 66.1% during the first quarter. ST Germain D J Co. Inc. now owns 191 shares of the medical research company’s stock worth $34,000 after acquiring an additional 76 shares in the last quarter. GKV Capital Management Co. Inc. bought a new stake in IQVIA during the fourth quarter worth $39,000. Lee Danner & Bass Inc. bought a new stake in IQVIA during the fourth quarter worth $44,000. Finally, Zions Bancorporation N.A. raised its position in IQVIA by 55.2% during the fourth quarter. Zions Bancorporation N.A. now owns 239 shares of the medical research company’s stock worth $47,000 after acquiring an additional 85 shares in the last quarter. Institutional investors own 89.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on IQV. UBS Group dropped their price target on shares of IQVIA from $255.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. HSBC lowered shares of IQVIA from a “buy” rating to a “hold” rating and dropped their price target for the stock from $260.00 to $160.00 in a research report on Friday, April 25th. Mizuho dropped their price objective on shares of IQVIA from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Thursday, May 15th. Redburn Partners set a $188.00 price objective on shares of IQVIA in a research report on Friday, May 23rd. Finally, Barclays dropped their price objective on shares of IQVIA from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. Eight analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, IQVIA presently has a consensus rating of “Moderate Buy” and an average price target of $226.32.

IQVIA Trading Up 3.6%

Shares of IQVIA stock opened at $159.70 on Wednesday. The company has a market capitalization of $27.63 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 1.99 and a beta of 1.28. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 2.12. IQVIA Holdings Inc. has a 12-month low of $134.65 and a 12-month high of $252.88. The firm’s 50-day moving average price is $147.13 and its two-hundred day moving average price is $178.43.

IQVIA (NYSE:IQV) last announced its quarterly earnings data on Tuesday, May 6th. The medical research company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.07. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.77 billion. IQVIA had a net margin of 8.91% and a return on equity of 28.81%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.54 earnings per share. On average, analysts forecast that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal year.

IQVIA Profile

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.