Archford Capital Strategies LLC Has $643,000 Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Archford Capital Strategies LLC reduced its position in IQVIA Holdings Inc. (NYSE:IQV) by 69.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,648 shares of the medical research company’s stock after selling 8,320 shares during the period. Archford Capital Strategies LLC’s holdings in IQVIA were worth $643,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in IQVIA in the fourth quarter worth approximately $336,041,000. Raymond James Financial Inc. acquired a new position in shares of IQVIA during the 4th quarter worth $236,120,000. American Century Companies Inc. increased its stake in shares of 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 worth $222,987,000 after purchasing an additional 905,960 shares during the last quarter. Invesco Ltd. increased its stake 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 purchasing an additional 902,226 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased 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 last quarter. 89.62% of the stock is owned by institutional investors and hedge funds.

IQVIA Stock Up 0.1%

IQV stock opened at $158.77 on Thursday. IQVIA Holdings Inc. has a twelve month low of $134.65 and a twelve month high of $252.88. The company has a market cap of $27.47 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 1.73 and a beta of 1.28. The business’s 50-day simple moving average is $148.69 and its 200 day simple moving average is $175.18. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.19.

IQVIA (NYSE:IQV) last announced its quarterly earnings data on Tuesday, May 6th. The medical research company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.07. IQVIA had a return on equity of 29.16% and a net margin of 8.61%. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the firm earned $2.54 EPS. IQVIA’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, research analysts anticipate that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IQV has been the topic of several analyst reports. Barclays lowered their target price on shares of IQVIA from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. HSBC lowered IQVIA from a “buy” rating to a “hold” rating and lowered their price objective for the company from $260.00 to $160.00 in a report on Friday, April 25th. Redburn Partners set a $188.00 price target on IQVIA in a report on Friday, May 23rd. UBS Group lowered their price target on IQVIA from $255.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Finally, Truist Financial lowered their price target on IQVIA from $263.00 to $216.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Eight equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $226.32.

IQVIA Company 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.