IQVIA Holdings Inc. (NYSE:IQV) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 5.9% in the third quarter, Holdings Channel reports. The institutional investor owned 37,828 shares of the medical research company’s stock after selling 2,362 shares during the quarter. Retirement Systems of Alabama’s holdings in IQVIA were worth $8,964,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in IQV. Oddo BHF Asset Management Sas acquired a new position in IQVIA during the 3rd quarter worth $2,771,000. Franklin Resources Inc. lifted its position in shares of IQVIA by 1.2% during the third quarter. Franklin Resources Inc. now owns 501,807 shares of the medical research company’s stock worth $117,031,000 after purchasing an additional 6,011 shares during the last quarter. Tidal Investments LLC grew its stake in IQVIA by 9.3% in the third quarter. Tidal Investments LLC now owns 5,980 shares of the medical research company’s stock worth $1,417,000 after purchasing an additional 509 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in IQVIA in the third quarter valued at about $2,310,000. Finally, Arvest Bank Trust Division acquired a new stake in IQVIA during the third quarter valued at approximately $21,079,000. Institutional investors own 89.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $270.00 target price on shares of IQVIA in a research report on Wednesday, December 11th. Evercore ISI lowered their target price on shares of IQVIA from $270.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Bank of America reduced their price target on shares of IQVIA from $255.00 to $235.00 and set a “buy” rating on the stock in a research report on Friday. William Blair reaffirmed an “outperform” rating on shares of IQVIA in a research report on Wednesday, December 11th. Finally, Truist Financial cut their target price on shares of IQVIA from $265.00 to $261.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Four investment 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. Based on data from MarketBeat, IQVIA has an average rating of “Moderate Buy” and an average target price of $256.19.

IQVIA Price Performance

Shares of IQV opened at $197.09 on Tuesday. IQVIA Holdings Inc. has a one year low of $187.62 and a one year high of $261.73. The stock’s fifty day moving average is $211.68 and its 200-day moving average is $224.03. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $35.77 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 2.05 and a beta of 1.49.

About IQVIA

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.