Cresset Asset Management LLC Has $9.75 Million Position in IQVIA Holdings Inc. (NYSE:IQV)

Cresset Asset Management LLC cut its holdings in IQVIA Holdings Inc. (NYSE:IQV) by 27.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,625 shares of the medical research company’s stock after selling 19,201 shares during the quarter. Cresset Asset Management LLC’s holdings in IQVIA were worth $9,752,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IQV. Norges Bank bought a new stake in shares of IQVIA during the fourth quarter worth $336,041,000. Raymond James Financial Inc. bought a new stake in IQVIA during the 4th quarter worth about $236,120,000. American Century Companies Inc. lifted its position in IQVIA by 396.0% during the 4th quarter. American Century Companies Inc. now owns 1,134,737 shares of the medical research company’s stock valued at $222,987,000 after purchasing an additional 905,960 shares during the period. Invesco Ltd. grew its position in shares of IQVIA by 53.4% during the 4th quarter. Invesco Ltd. now owns 2,590,260 shares of the medical research company’s stock worth $509,012,000 after buying an additional 902,226 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of IQVIA by 20.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 4,282,024 shares of the medical research company’s stock worth $841,461,000 after buying an additional 712,958 shares during the last quarter. Institutional investors and hedge funds own 89.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on IQV. Barclays lowered their target price on shares of IQVIA from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Wednesday. UBS Group dropped their price objective on IQVIA from $255.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $270.00 target price on shares of IQVIA in a report on Monday, February 10th. Stifel Nicolaus lowered their price target on IQVIA from $273.00 to $261.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Finally, Robert W. Baird reduced their price objective on shares of IQVIA from $195.00 to $161.00 and set a “neutral” rating on the stock in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, IQVIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.71.

IQVIA Trading Up 4.8 %

IQVIA stock opened at $153.21 on Thursday. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a 50-day moving average of $165.23 and a 200-day moving average of $189.61. The company has a market cap of $27.01 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 1.99 and a beta of 1.34. IQVIA Holdings Inc. has a one year low of $135.97 and a one 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 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.07. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.77 billion. IQVIA had a return on equity of 28.81% and a net margin of 8.91%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $2.54 earnings per share. On average, equities analysts expect 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.