Fairtree Asset Management Pty Ltd Takes $503,000 Position in IQVIA Holdings Inc. (NYSE:IQV)

Fairtree Asset Management Pty Ltd bought a new position in shares of IQVIA Holdings Inc. (NYSE:IQV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,559 shares of the medical research company’s stock, valued at approximately $503,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of IQVIA by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 20,131,734 shares of the medical research company’s stock worth $3,956,087,000 after purchasing an additional 105,504 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in 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 period. Geode Capital Management LLC boosted its stake in IQVIA by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 4,175,524 shares of the medical research company’s stock worth $818,315,000 after buying an additional 77,981 shares during the last quarter. Invesco Ltd. grew its holdings in IQVIA by 53.4% in the 4th quarter. Invesco Ltd. now owns 2,590,260 shares of the medical research company’s stock valued at $509,012,000 after buying an additional 902,226 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of IQVIA by 2.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438,726 shares of the medical research company’s stock valued at $481,380,000 after acquiring an additional 59,426 shares during the last quarter. 89.62% of the stock is owned by hedge funds and other institutional investors.

IQVIA Price Performance

IQV opened at $140.57 on Wednesday. IQVIA Holdings Inc. has a twelve month low of $134.65 and a twelve month high of $252.88. The firm has a market cap of $24.32 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.99 and a beta of 1.34. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.12. The company has a fifty day simple moving average of $153.47 and a 200 day simple moving average of $182.26.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of IQVIA from $245.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Stifel Nicolaus lowered their price objective on shares of IQVIA from $273.00 to $261.00 and set a “buy” rating for the company in a research note on Friday, February 7th. BTIG Research lowered IQVIA from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Wall Street Zen cut IQVIA from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Finally, UBS Group dropped their price target on IQVIA from $255.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Eight investment 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $226.32.

About IQVIA

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.