Allspring Global Investments Holdings LLC Purchases 10,960 Shares of IQVIA Holdings Inc. $IQV

Allspring Global Investments Holdings LLC raised its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 22.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,310 shares of the medical research company’s stock after acquiring an additional 10,960 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in IQVIA were worth $15,463,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IQV. BlackRock Inc. purchased a new stake in shares of IQVIA during the second quarter valued at $2,811,292,000. Canada Pension Plan Investment Board acquired a new stake in shares of IQVIA during the 2nd quarter valued at about $240,911,000. Bank of America Corp DE purchased a new position in IQVIA during the second quarter valued at $235,551,000. Legal & General Group Plc acquired a new stake in shares of IQVIA in the second quarter valued at about $211,342,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of IQVIA in the second quarter worth approximately $180,296,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Eric Sherbet sold 4,446 shares of the firm’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $278.83, for a total value of $1,239,678.18. Following the transaction, the insider directly owned 24,989 shares in the company, valued at approximately $6,967,682.87. This trade represents a 15.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider James G. Berkshire sold 2,668 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $261.33, for a total value of $697,228.44. Following the sale, the insider owned 10,890 shares in the company, valued at $2,845,883.70. The trade was a 19.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.70% of the stock is currently owned by insiders.

IQVIA Stock Performance

IQVIA stock opened at $265.44 on Friday. The company has a market cap of $43.74 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 2.41 and a beta of 1.16. IQVIA Holdings Inc. has a 12 month low of $154.50 and a 12 month high of $284.50. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.83 and a quick ratio of 0.83. The stock’s 50-day moving average is $267.55 and its 200-day moving average is $211.88.

IQVIA (NYSE:IQV) last released its quarterly earnings results on Tuesday, October 27th. The medical research company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.26 by $0.08. The firm had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.37 billion. IQVIA had a return on equity of 30.02% and a net margin of 8.05%. IQVIA’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.00 EPS. Equities analysts anticipate that IQVIA Holdings Inc. will post 11.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Leerink Partners upped their price target on IQVIA from $280.00 to $310.00 and gave the company an “outperform” rating in a research report on Thursday, October 8th. UBS Group assumed coverage on shares of IQVIA in a research report on Wednesday, September 30th. They issued a “buy” rating and a $345.00 price objective on the stock. Robert W. Baird increased their price target on shares of IQVIA from $324.00 to $328.00 and gave the company an “outperform” rating in a research note on Tuesday, October 27th. Mizuho upped their price target on shares of IQVIA from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, October 7th. Finally, TD Cowen raised their price objective on shares of IQVIA from $288.00 to $307.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $294.21.

IQVIA Profile

IQVIA Holdings Inc. provides clinical research services, healthcare data and analytics, and technology solutions to pharmaceutical, biotechnology, medical-device, and other healthcare organizations. Its services support the development and commercialization of medicines and other healthcare products. The company’s offerings include clinical trial planning and management, real-world data and evidence, consulting, and software and technology platforms for life sciences research and commercial operations.