Hsbc Holdings PLC reduced its holdings in IQVIA Holdings Inc. (NYSE:IQV – Free Report) by 7.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 338,340 shares of the medical research company’s stock after selling 26,119 shares during the quarter. Hsbc Holdings PLC’s holdings in IQVIA were worth $76,303,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in IQV. Boston Partners acquired a new position in shares of IQVIA during the 3rd quarter valued at about $676,698,000. Norges Bank acquired a new stake in shares of IQVIA in the fourth quarter worth approximately $497,445,000. Victory Capital Management Inc. grew its holdings in IQVIA by 2,628.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,675,479 shares of the medical research company’s stock valued at $377,670,000 after purchasing an additional 1,614,063 shares during the period. Orbis Allan Gray Ltd increased its position in IQVIA by 96.5% during the fourth quarter. Orbis Allan Gray Ltd now owns 1,901,091 shares of the medical research company’s stock worth $428,525,000 after purchasing an additional 933,554 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in IQVIA by 130.2% during the second quarter. AQR Capital Management LLC now owns 1,555,298 shares of the medical research company’s stock worth $245,099,000 after purchasing an additional 879,701 shares during the period. 89.62% of the stock is owned by institutional investors and hedge funds.
IQVIA Price Performance
IQV opened at $167.83 on Tuesday. IQVIA Holdings Inc. has a twelve month low of $153.01 and a twelve month high of $247.04. The firm has a market cap of $28.01 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 1.44 and a beta of 1.21. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.20. The company has a fifty day simple moving average of $173.60 and a 200 day simple moving average of $191.01.
IQVIA declared that its board has approved a share buyback plan on Thursday, May 7th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to purchase up to 6.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on IQV. HSBC set a $210.00 price objective on IQVIA in a report on Wednesday, June 3rd. Weiss Ratings downgraded IQVIA from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Morgan Stanley restated an “equal weight” rating and set a $200.00 price target (down from $225.00) on shares of IQVIA in a research note on Wednesday, June 17th. Royal Bank Of Canada began coverage on IQVIA in a report on Tuesday, March 3rd. They issued an “outperform” rating and a $221.00 price objective on the stock. Finally, Barclays raised shares of IQVIA from an “equal weight” rating to an “overweight” rating and set a $210.00 target price for the company in a research report on Friday, March 6th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.56.
View Our Latest Analysis on IQVIA
About IQVIA
IQVIA (NYSE: IQV) is a global provider of advanced analytics, technology solutions and contract research services to the life sciences industry. The company combines clinical research capabilities with large-scale health data and analytics to support drug development, regulatory reporting, commercial strategy and real‑world evidence generation. IQVIA traces its current form to the combination of Quintiles and IMS Health announced in 2016 and subsequently rebranded as IQVIA, bringing together long-established clinical research operations and extensive healthcare information assets.
IQVIA’s principal activities include outsourced clinical development services (acting as a contract research organization for phases I–IV), real‑world evidence and observational research, regulatory and safety services, and a suite of technology platforms that enable data integration, analytics and operational management.
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