Citizens Business Bank Sells 357 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Citizens Business Bank cut its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,732 shares of the medical research company’s stock after selling 357 shares during the period. Citizens Business Bank’s holdings in IQVIA were worth $2,109,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of IQVIA during the 4th quarter valued at about $336,041,000. Raymond James Financial Inc. bought a new position in shares of IQVIA in the fourth quarter worth about $236,120,000. American Century Companies Inc. increased its stake in shares of IQVIA by 396.0% during the fourth quarter. American Century Companies Inc. now owns 1,134,737 shares of the medical research company’s stock valued at $222,987,000 after buying an additional 905,960 shares during the period. Invesco Ltd. boosted its position in IQVIA by 53.4% during the 4th quarter. Invesco Ltd. now owns 2,590,260 shares of the medical research company’s stock valued at $509,012,000 after acquiring an additional 902,226 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of IQVIA by 20.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 4,282,024 shares of the medical research company’s stock worth $841,461,000 after acquiring an additional 712,958 shares in the last quarter. 89.62% of the stock is owned by hedge funds and other institutional investors.

IQVIA Stock Up 4.8 %

Shares of IQVIA stock opened at $153.21 on Thursday. IQVIA Holdings Inc. has a 1-year low of $135.97 and a 1-year high of $252.88. The company has a market capitalization of $27.01 billion, a P/E ratio of 20.43, a PEG ratio of 1.99 and a beta of 1.34. The business’s fifty day moving average price is $165.23 and its two-hundred day moving average price is $189.61. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.84 and a quick ratio of 0.84.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Barclays decreased their target price on IQVIA from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Wednesday. Mizuho lowered their price objective on IQVIA from $242.00 to $210.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Morgan Stanley lifted their price objective on shares of IQVIA from $245.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Citigroup lowered their target price on shares of IQVIA from $225.00 to $210.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, Robert W. Baird cut their price target on shares of IQVIA from $195.00 to $161.00 and set a “neutral” rating on the stock in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, IQVIA presently has a consensus rating of “Moderate Buy” and an average target price of $231.71.

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.