Magnetar Financial LLC Invests $2.07 Million in IQVIA Holdings Inc. (NYSE:IQV)

Magnetar Financial LLC bought a new position in IQVIA Holdings Inc. (NYSE:IQV) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,168 shares of the medical research company’s stock, valued at approximately $2,066,000.

Other large investors have also recently modified their holdings of the company. Team Hewins LLC lifted its holdings in shares of IQVIA by 5.0% in the 1st quarter. Team Hewins LLC now owns 973 shares of the medical research company’s stock worth $246,000 after acquiring an additional 46 shares during the last quarter. Covestor Ltd raised its holdings in IQVIA by 45.3% during the 1st quarter. Covestor Ltd now owns 154 shares of the medical research company’s stock valued at $39,000 after buying an additional 48 shares during the last quarter. Jag Capital Management LLC raised its holdings in IQVIA by 0.4% during the 4th quarter. Jag Capital Management LLC now owns 11,401 shares of the medical research company’s stock valued at $2,638,000 after buying an additional 49 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in IQVIA by 4.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,157 shares of the medical research company’s stock valued at $268,000 after buying an additional 50 shares during the last quarter. Finally, Cypress Wealth Services LLC raised its holdings in IQVIA by 5.3% during the 1st quarter. Cypress Wealth Services LLC now owns 1,101 shares of the medical research company’s stock valued at $278,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 89.62% of the company’s stock.

Analyst Upgrades and Downgrades

IQV has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of IQVIA from a “hold” rating to a “buy” rating in a report on Monday, July 15th. Truist Financial upped their price target on shares of IQVIA from $292.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group initiated coverage on shares of IQVIA in a research report on Thursday, June 6th. They set a “buy” rating and a $270.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of IQVIA from $270.00 to $280.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Finally, Jefferies Financial Group downgraded shares of IQVIA from a “buy” rating to a “hold” rating and reduced their price objective for the company from $266.00 to $242.00 in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, IQVIA has an average rating of “Moderate Buy” and an average target price of $263.56.

IQVIA Price Performance

Shares of IQV stock traded up $7.38 on Friday, reaching $239.67. The company’s stock had a trading volume of 1,195,238 shares, compared to its average volume of 1,420,984. The stock’s fifty day simple moving average is $220.23 and its 200-day simple moving average is $229.46. IQVIA Holdings Inc. has a 1 year low of $167.42 and a 1 year high of $261.73. The company has a current ratio of 0.85, a quick ratio of 0.88 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $43.69 billion, a price-to-earnings ratio of 32.74, a price-to-earnings-growth ratio of 2.26 and a beta of 1.49.

IQVIA (NYSE:IQV) last posted its earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.07. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.79 billion. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. IQVIA’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $2.22 earnings per share. Analysts forecast that IQVIA Holdings Inc. will post 10.21 earnings per share for the current fiscal year.

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.