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

IQVIA Holdings Inc. (NYSE:IQV) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 2,810,000 shares, a decline of 9.6% from the November 30th total of 3,110,000 shares. Based on an average trading volume of 1,520,000 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.6% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

IQV has been the topic of several research reports. StockNews.com lowered shares of IQVIA from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. BTIG Research cut their price target on IQVIA from $290.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Barclays lowered their price objective on IQVIA from $260.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of IQVIA from $270.00 to $265.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, William Blair reaffirmed an “outperform” rating on shares of IQVIA in a report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $255.82.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board increased its stake in shares of IQVIA by 6.6% in the second quarter. Canada Pension Plan Investment Board now owns 3,403,488 shares of the medical research company’s stock worth $719,634,000 after acquiring an additional 211,653 shares during the last quarter. Farallon Capital Management LLC grew its stake in IQVIA by 3.1% in the second quarter. Farallon Capital Management LLC now owns 2,923,032 shares of the medical research company’s stock valued at $618,046,000 after purchasing an additional 86,870 shares in the last quarter. FMR LLC raised its stake in shares of IQVIA by 38.7% during the 3rd quarter. FMR LLC now owns 2,887,342 shares of the medical research company’s stock worth $684,213,000 after purchasing an additional 804,963 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of IQVIA by 46.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,845,711 shares of the medical research company’s stock valued at $437,378,000 after buying an additional 583,396 shares during the last quarter. Finally, Impax Asset Management Group plc grew its stake in shares of IQVIA by 9.7% in the 3rd quarter. Impax Asset Management Group plc now owns 1,793,010 shares of the medical research company’s stock valued at $423,885,000 after buying an additional 157,809 shares in the last quarter. 89.62% of the stock is owned by institutional investors and hedge funds.

IQVIA Trading Down 0.5 %

Shares of IQVIA stock traded down $0.94 during trading on Wednesday, hitting $196.51. The stock had a trading volume of 718,908 shares, compared to its average volume of 1,193,056. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $35.67 billion, a PE ratio of 25.79, a P/E/G ratio of 2.05 and a beta of 1.49. IQVIA has a 1 year low of $187.62 and a 1 year high of $261.73. The stock has a 50 day simple moving average of $204.17 and a 200 day simple moving average of $222.49.

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.