State of Michigan Retirement System Sells 400 Shares of IQVIA Holdings Inc. (NYSE:IQV)

State of Michigan Retirement System reduced its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 0.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,794 shares of the medical research company’s stock after selling 400 shares during the quarter. State of Michigan Retirement System’s holdings in IQVIA were worth $9,195,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IQV. Smith Group Asset Management LLC acquired a new stake in IQVIA in the 4th quarter valued at $1,616,000. Simplify Asset Management Inc. increased its position in shares of IQVIA by 67.8% in the third quarter. Simplify Asset Management Inc. now owns 9,637 shares of the medical research company’s stock valued at $2,284,000 after acquiring an additional 3,894 shares during the last quarter. Nordea Investment Management AB raised its holdings in IQVIA by 47.4% during the fourth quarter. Nordea Investment Management AB now owns 1,405,281 shares of the medical research company’s stock worth $277,908,000 after acquiring an additional 452,029 shares in the last quarter. Hickory Asset Management Inc. acquired a new position in IQVIA during the fourth quarter valued at approximately $941,000. Finally, Fifth Third Bancorp grew its stake in IQVIA by 13.0% in the fourth quarter. Fifth Third Bancorp now owns 13,179 shares of the medical research company’s stock valued at $2,590,000 after purchasing an additional 1,521 shares in the last quarter. 89.62% of the stock is currently owned by institutional investors and hedge funds.

IQVIA Trading Up 1.3 %

Shares of IQVIA stock opened at $186.04 on Thursday. IQVIA Holdings Inc. has a 52-week low of $179.28 and a 52-week high of $261.73. The stock has a market cap of $32.80 billion, a PE ratio of 24.81, a PEG ratio of 1.99 and a beta of 1.50. The firm has a 50-day moving average of $198.24 and a 200-day moving average of $213.66. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.84 and a current ratio of 0.84.

IQVIA (NYSE:IQV) last announced its earnings results on Thursday, February 6th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.11 by ($0.21). IQVIA had a return on equity of 28.81% and a net margin of 8.91%. As a group, sell-side analysts forecast that IQVIA Holdings Inc. will post 10.84 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on IQV. Truist Financial reissued a “buy” rating and issued a $263.00 price objective (up previously from $261.00) on shares of IQVIA in a report on Monday, February 10th. Citigroup cut their price target on shares of IQVIA from $225.00 to $210.00 and set a “neutral” rating for the company in a research note on Tuesday. Leerink Partners restated an “outperform” rating and set a $248.00 price objective (down from $260.00) on shares of IQVIA in a research note on Tuesday, November 19th. JPMorgan Chase & Co. cut their target price on shares of IQVIA from $240.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Finally, UBS Group reduced their price target on IQVIA from $260.00 to $255.00 and set a “buy” rating for the company in a report on Friday, February 7th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.05.

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.