Huntington National Bank Trims Stock Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Huntington National Bank reduced its stake in IQVIA Holdings Inc. (NYSE:IQV) by 42.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 464 shares of the medical research company’s stock after selling 345 shares during the period. Huntington National Bank’s holdings in IQVIA were worth $91,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Smith Group Asset Management LLC bought a new position in IQVIA in the 4th quarter worth about $1,616,000. Nordea Investment Management AB lifted its holdings in shares of IQVIA by 47.4% in 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 buying an additional 452,029 shares in the last quarter. Hickory Asset Management Inc. purchased a new position in IQVIA during the fourth quarter valued at approximately $941,000. Fifth Third Bancorp increased its holdings in IQVIA by 13.0% during the 4th quarter. Fifth Third Bancorp now owns 13,179 shares of the medical research company’s stock worth $2,590,000 after acquiring an additional 1,521 shares during the period. Finally, Graphene Investments SAS lifted its stake in IQVIA by 22.0% in the 4th quarter. Graphene Investments SAS now owns 15,000 shares of the medical research company’s stock worth $2,948,000 after purchasing an additional 2,700 shares in the last quarter. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Truist Financial restated a “buy” rating and set a $263.00 price target (up from $261.00) on shares of IQVIA in a research report on Monday, February 10th. StockNews.com cut IQVIA from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Stephens began coverage on IQVIA in a report on Friday, December 20th. They issued an “overweight” rating and a $250.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $270.00 price objective on shares of IQVIA in a report on Monday, February 10th. Finally, Robert W. Baird lowered their target price on shares of IQVIA from $212.00 to $210.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, IQVIA currently has an average rating of “Moderate Buy” and an average target price of $249.05.

IQVIA Price Performance

Shares of IQVIA stock opened at $154.63 on Monday. 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 Holdings Inc. has a one year low of $153.42 and a one year high of $252.88. The business’s 50 day simple moving average is $189.67 and its two-hundred day simple moving average is $203.55. The stock has a market capitalization of $27.26 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46.

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