Tran Capital Management L.P. Decreases Stock Position in IQVIA Holdings Inc. (NYSE:IQV)

Tran Capital Management L.P. lessened its position in shares of IQVIA Holdings Inc. (NYSE:IQV) by 50.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,436 shares of the medical research company’s stock after selling 62,677 shares during the period. IQVIA accounts for 1.5% of Tran Capital Management L.P.’s investment portfolio, making the stock its 25th largest position. Tran Capital Management L.P.’s holdings in IQVIA were worth $11,007,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in IQVIA by 21.5% in the 1st quarter. Fifth Third Bancorp now owns 16,013 shares of the medical research company’s stock worth $2,823,000 after buying an additional 2,834 shares during the period. Laurel Wealth Advisors LLC lifted its position in shares of IQVIA by 7.5% during the first quarter. Laurel Wealth Advisors LLC now owns 4,917 shares of the medical research company’s stock worth $867,000 after acquiring an additional 345 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of IQVIA by 55.6% in the first quarter. Assenagon Asset Management S.A. now owns 397,772 shares of the medical research company’s stock worth $70,127,000 after acquiring an additional 142,170 shares during the period. Terra Alpha Investments LLC grew its position in shares of IQVIA by 4.8% in the first quarter. Terra Alpha Investments LLC now owns 7,644 shares of the medical research company’s stock valued at $1,348,000 after purchasing an additional 347 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of IQVIA by 56.3% in the first quarter. GAMMA Investing LLC now owns 2,197 shares of the medical research company’s stock valued at $387,000 after purchasing an additional 791 shares in the last quarter. Institutional investors own 89.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IQV. Wall Street Zen downgraded IQVIA from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Barclays lowered their price target on shares of IQVIA from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. UBS Group reduced their price objective on shares of IQVIA from $255.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Mizuho lowered their target price on shares of IQVIA from $210.00 to $190.00 and set an “outperform” rating on the stock in a research note on Thursday, May 15th. Finally, HSBC downgraded shares of IQVIA from a “buy” rating to a “hold” rating and cut their price target for the company from $260.00 to $160.00 in a report on Friday, April 25th. Eight research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $226.32.

IQVIA Stock Performance

Shares of NYSE IQV opened at $158.82 on Thursday. The stock has a market cap of $27.48 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 1.99 and a beta of 1.28. The stock’s 50-day moving average is $147.21 and its 200 day moving average is $178.30. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.12. IQVIA Holdings Inc. has a 1-year low of $134.65 and a 1-year high of $252.88.

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