Parnassus Investments LLC Reduces Stock Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Parnassus Investments LLC reduced its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 5.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 334,178 shares of the medical research company’s stock after selling 18,365 shares during the quarter. Parnassus Investments LLC’s holdings in IQVIA were worth $65,669,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Synergy Asset Management LLC acquired a new position in shares of IQVIA during the fourth quarter valued at about $33,000. Avior Wealth Management LLC increased its stake in IQVIA by 117.6% during the 3rd quarter. Avior Wealth Management LLC now owns 161 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 87 shares in the last quarter. Assetmark Inc. increased its stake in IQVIA by 612.5% during the 3rd quarter. Assetmark Inc. now owns 228 shares of the medical research company’s stock valued at $54,000 after purchasing an additional 196 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in IQVIA during the 3rd quarter valued at approximately $57,000. Finally, Meeder Asset Management Inc. increased its stake in IQVIA by 353.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 245 shares of the medical research company’s stock valued at $58,000 after purchasing an additional 191 shares in the last quarter. 89.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IQV. Bank of America cut their target price on IQVIA from $255.00 to $235.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. BTIG Research lowered IQVIA from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Barclays cut their price objective on IQVIA from $255.00 to $235.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Morgan Stanley increased their price target on shares of IQVIA from $245.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $270.00 price target on shares of IQVIA in a report on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, IQVIA presently has a consensus rating of “Moderate Buy” and an average target price of $249.05.

IQVIA Price Performance

NYSE:IQV opened at $181.53 on Friday. IQVIA Holdings Inc. has a 52 week low of $179.28 and a 52 week high of $256.76. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 2.12. The stock has a market capitalization of $32.01 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 1.99 and a beta of 1.50. The stock’s 50-day moving average price is $196.87 and its 200-day moving average price is $211.38.

IQVIA (NYSE:IQV) last issued its quarterly earnings data on Thursday, February 6th. The medical research company reported $2.90 EPS for the quarter, missing the consensus estimate of $3.11 by ($0.21). IQVIA had a net margin of 8.91% and a return on equity of 28.81%. As a group, equities analysts expect that IQVIA Holdings Inc. will post 10.84 EPS 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.