Prudential Financial Inc. Sells 9,505 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Prudential Financial Inc. cut its stake in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 8.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,424 shares of the medical research company's stock after selling 9,505 shares during the quarter. Prudential Financial Inc. owned about 0.06% of IQVIA worth $20,520,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in IQVIA by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 20,131,734 shares of the medical research company's stock worth $3,956,087,000 after buying an additional 105,504 shares in the last quarter. FMR LLC raised its position in shares of IQVIA by 38.7% in the 3rd quarter. FMR LLC now owns 2,887,342 shares of the medical research company's stock worth $684,213,000 after acquiring an additional 804,963 shares in the last quarter. Cantillon Capital Management LLC lifted its stake in shares of IQVIA by 12.3% in the 4th quarter. Cantillon Capital Management LLC now owns 2,066,144 shares of the medical research company's stock valued at $406,018,000 after purchasing an additional 226,017 shares during the period. JPMorgan Chase & Co. boosted its position in shares of IQVIA by 46.2% during the third quarter. JPMorgan Chase & Co. now owns 1,845,711 shares of the medical research company's stock valued at $437,378,000 after purchasing an additional 583,396 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in 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 purchasing an additional 452,029 shares during the period. 89.62% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of IQVIA from $245.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Truist Financial reissued a "buy" rating and set a $263.00 price objective (up previously from $261.00) on shares of IQVIA in a research note on Monday, February 10th. Bank of America decreased their target price on shares of IQVIA from $255.00 to $235.00 and set a "buy" rating for the company in a research note on Friday, December 13th. Stifel Nicolaus dropped their price target on IQVIA from $273.00 to $261.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Finally, William Blair reaffirmed an "outperform" rating on shares of IQVIA in a research report on Wednesday, December 11th. Five investment 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's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $249.05.

IQVIA Stock Performance

IQVIA stock traded down $1.12 during midday trading on Monday, reaching $176.28. 2,234,715 shares of the company traded hands, compared to its average volume of 1,303,022. IQVIA Holdings Inc. has a 12 month low of $169.37 and a 12 month high of $253.84. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.84 and a quick ratio of 0.84. The business has a 50 day moving average of $192.73 and a two-hundred day moving average of $205.61. The firm has a market capitalization of $31.08 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 1.99 and a beta of 1.50.

IQVIA (NYSE:IQV - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The medical research company reported $2.90 earnings per share 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, research analysts predict that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

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.