Castle Hook Partners LP Makes New Investment in IQVIA Holdings Inc. (NYSE:IQV)

Castle Hook Partners LP acquired a new position in IQVIA Holdings Inc. (NYSE:IQV - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 165,646 shares of the medical research company's stock, valued at approximately $39,253,000. IQVIA makes up 0.7% of Castle Hook Partners LP's holdings, making the stock its 26th biggest holding. Castle Hook Partners LP owned 0.09% of IQVIA at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IQV. Versant Capital Management Inc boosted its holdings in IQVIA by 733.3% in the second quarter. Versant Capital Management Inc now owns 125 shares of the medical research company's stock valued at $26,000 after purchasing an additional 110 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of IQVIA in the second quarter worth $27,000. Capital Performance Advisors LLP acquired a new stake in IQVIA in the third quarter valued at $27,000. Park Place Capital Corp bought a new position in IQVIA during the 3rd quarter valued at $28,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of IQVIA in the 2nd quarter worth about $29,000. 89.62% of the stock is owned by hedge funds and other institutional investors.

IQVIA Price Performance

Shares of IQVIA stock traded up $0.20 during trading on Thursday, hitting $201.43. The stock had a trading volume of 822,837 shares, compared to its average volume of 1,177,509. The business has a fifty day moving average of $220.36 and a two-hundred day moving average of $226.57. IQVIA Holdings Inc. has a fifty-two week low of $187.62 and a fifty-two week high of $261.73. The firm has a market cap of $36.56 billion, a P/E ratio of 26.44, a PEG ratio of 2.10 and a beta of 1.51. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.81 and a quick ratio of 0.81.

Wall Street Analysts Forecast Growth

IQV has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $270.00 target price on shares of IQVIA in a report on Friday, November 1st. Evercore ISI decreased their price target on shares of IQVIA from $270.00 to $265.00 and set an "outperform" rating for the company in a report on Tuesday, October 8th. Robert W. Baird dropped their price objective on shares of IQVIA from $256.00 to $223.00 and set a "neutral" rating on the stock in a research note on Friday, November 1st. Redburn Atlantic initiated coverage on IQVIA in a research note on Monday, October 14th. They issued a "buy" rating and a $276.00 target price for the company. Finally, Morgan Stanley dropped their price target on IQVIA from $280.00 to $265.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $256.50.

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.