Chevy Chase Trust Holdings LLC Decreases Stock Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Chevy Chase Trust Holdings LLC lowered its stake in IQVIA Holdings Inc. (NYSE:IQV) by 1.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,854 shares of the medical research company’s stock after selling 1,785 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.06% of IQVIA worth $27,022,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in IQVIA by 4.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,418,392 shares of the medical research company’s stock valued at $532,070,000 after acquiring an additional 93,194 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of IQVIA by 339.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,067,195 shares of the medical research company’s stock worth $478,308,000 after buying an additional 1,597,003 shares during the last quarter. Capital Research Global Investors grew its position in IQVIA by 42.2% during the fourth quarter. Capital Research Global Investors now owns 1,995,269 shares of the medical research company’s stock valued at $461,675,000 after buying an additional 592,372 shares during the period. Wellington Management Group LLP increased its holdings in IQVIA by 1.0% during the third quarter. Wellington Management Group LLP now owns 1,816,266 shares of the medical research company’s stock valued at $357,350,000 after buying an additional 17,139 shares during the last quarter. Finally, Norges Bank bought a new position in IQVIA in the fourth quarter worth approximately $383,705,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IQV. The Goldman Sachs Group assumed coverage on IQVIA in a report on Thursday, June 6th. They issued a “buy” rating and a $270.00 target price on the stock. Robert W. Baird reduced their price objective on shares of IQVIA from $241.00 to $235.00 and set a “neutral” rating for the company in a research note on Wednesday. Evercore ISI decreased their price target on IQVIA from $250.00 to $230.00 and set an “outperform” rating on the stock in a report on Tuesday. Truist Financial lowered their target price on shares of IQVIA from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Finally, Barclays dropped their price target on IQVIA from $275.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $255.73.

IQVIA Trading Down 0.7 %

IQV stock traded down $1.50 during mid-day trading on Wednesday, reaching $211.55. The company had a trading volume of 356,188 shares, compared to its average volume of 1,059,080. The company has a market capitalization of $38.54 billion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 1.90 and a beta of 1.49. The firm has a 50 day moving average of $220.17 and a 200 day moving average of $229.22. IQVIA Holdings Inc. has a 12 month low of $167.42 and a 12 month high of $261.73. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.88 and a quick ratio of 0.88.

IQVIA (NYSE:IQV) last released its quarterly earnings data on Thursday, May 2nd. The medical research company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.11. IQVIA had a return on equity of 29.17% and a net margin of 9.01%. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. On average, equities analysts predict that IQVIA Holdings Inc. will post 10.11 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.