IQVIA Holdings Inc. (NYSE:IQV) Sees Large Drop in Short Interest

IQVIA Holdings Inc. (NYSE:IQV - Get Free Report) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 3,110,000 shares, a decline of 6.9% from the November 15th total of 3,340,000 shares. Based on an average daily volume of 1,510,000 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.7% of the shares of the stock are short sold.

Hedge Funds Weigh In On IQVIA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IQV. Capital Performance Advisors LLP purchased a new position in shares of IQVIA in the third quarter worth about $27,000. Park Place Capital Corp purchased a new position in shares of IQVIA in the third quarter valued at approximately $28,000. Itau Unibanco Holding S.A. purchased a new position in IQVIA in the second quarter worth approximately $29,000. International Assets Investment Management LLC purchased a new position in IQVIA in the second quarter worth approximately $32,000. Finally, Avior Wealth Management LLC lifted its position in shares of IQVIA by 117.6% during the 3rd quarter. Avior Wealth Management LLC now owns 161 shares of the medical research company's stock worth $38,000 after buying an additional 87 shares during the last quarter. 89.62% of the stock is owned by hedge funds and other institutional investors.

IQVIA Stock Performance

IQVIA stock traded down $1.97 during mid-day trading on Monday, reaching $197.09. 1,804,661 shares of the company traded hands, compared to its average volume of 1,188,671. The company has a market capitalization of $35.77 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 2.05 and a beta of 1.49. IQVIA has a fifty-two week low of $187.62 and a fifty-two week high of $261.73. The firm's fifty day moving average is $212.24 and its two-hundred day moving average is $224.20. 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

A number of research analysts have issued reports on IQV shares. TD Cowen decreased their target price on IQVIA from $270.00 to $255.00 and set a "buy" rating for the company in a research note on Friday, November 1st. StockNews.com lowered IQVIA from a "buy" rating to a "hold" rating in a research note on Thursday, November 28th. Deutsche Bank Aktiengesellschaft decreased their target price on IQVIA from $270.00 to $265.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Truist Financial cut their price objective on shares of IQVIA from $265.00 to $261.00 and set a "buy" rating for the company in a research report on Thursday. Finally, The Goldman Sachs Group reduced their price target on shares of IQVIA from $280.00 to $250.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $256.19.

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.

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