TimesSquare Capital Management LLC Cuts Holdings in IQVIA Holdings Inc. (NYSE:IQV)

TimesSquare Capital Management LLC reduced its position in IQVIA Holdings Inc. (NYSE:IQV) by 28.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,725 shares of the medical research company’s stock after selling 695 shares during the period. TimesSquare Capital Management LLC’s holdings in IQVIA were worth $333,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TRU Independence Asset Management 2 LLC purchased a new position in IQVIA in the 4th quarter valued at approximately $27,000. Encompass Wealth Advisors LLC purchased a new position in IQVIA in the 4th quarter valued at approximately $27,000. Alpha Paradigm Partners LLC purchased a new position in IQVIA in the 4th quarter valued at approximately $28,000. CVA Family Office LLC purchased a new position in IQVIA in the 1st quarter valued at approximately $29,000. Finally, Wealthcare Advisory Partners LLC purchased a new position in IQVIA in the 1st quarter valued at approximately $33,000. 87.02% of the stock is owned by hedge funds and other institutional investors.

IQV has been the topic of a number of analyst reports. Argus increased their target price on IQVIA from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, May 12th. Mizuho increased their target price on IQVIA from $218.00 to $250.00 and gave the company a “buy” rating in a report on Friday, April 23rd. Jefferies Financial Group increased their target price on IQVIA from $259.00 to $273.00 and gave the company a “buy” rating in a report on Friday, April 23rd. Citigroup increased their target price on IQVIA from $225.00 to $265.00 in a report on Friday, April 23rd. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on IQVIA from $225.00 to $265.00 in a report on Friday, April 23rd. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $241.79.

NYSE:IQV opened at $242.80 on Friday. The firm has a 50-day moving average of $227.58. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.94. IQVIA Holdings Inc. has a 12 month low of $133.18 and a 12 month high of $244.95. The stock has a market capitalization of $46.54 billion, a price-to-earnings ratio of 115.62, a PEG ratio of 2.23 and a beta of 1.46.

IQVIA (NYSE:IQV) last released its quarterly earnings data on Thursday, April 22nd. The medical research company reported $2.18 EPS for the quarter, beating the consensus estimate of $1.85 by $0.33. IQVIA had a return on equity of 20.96% and a net margin of 3.40%. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period last year, the company posted $1.50 earnings per share. The firm’s revenue was up 23.8% compared to the same quarter last year. On average, research analysts predict that IQVIA Holdings Inc. will post 8.15 EPS for the current fiscal year.

IQVIA Profile

IQVIA Holdings Inc provides 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.

Further Reading: VIX – Volatility Index

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Institutional Ownership by Quarter for IQVIA (NYSE:IQV)

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