Parnassus Investments LLC Reduces Holdings in IQVIA Holdings Inc.

Parnassus Investments LLC has reduced its stake in IQVIA Holdings Inc. (NYSE:IQV) by 5.2% during the fourth quarter, according to their recent filing with the Securities and Exchange Commission. After selling 18,365 shares during this period, the institutional investor currently owns 334,178 shares of the medical research company. As per their latest SEC disclosure, Parnassus Investments LLC holds approximately 0.18% of IQVIA, valued at about $65,669,000.

Several other institutional investors have also made changes to their positions in IQVIA. For instance, Smith Group Asset Management LLC acquired a new stake valued at roughly $1,616,000 in the fourth quarter. Additionally, Simplify Asset Management Inc. increased its investment in IQVIA by 67.8% during the third quarter and now owns 9,637 shares worth about $2,284,000 after buying an extra 3,894 shares. Similarly, Nordea Investment Management AB boosted its holdings by 47.4% in the fourth quarter, bringing their total ownership to 1,405,281 shares valued at approximately $277,908,000 after acquiring another 452,029 shares. Other notable investors include Hickory Asset Management Inc., which bought a new stake valued at about $941,000, and Fifth Third Bancorp, which raised its position by 13.0%, now owning 13,179 shares worth $2,590,000 after adding 1,521 shares in the quarter. Overall, hedge funds and institutional investors own 89.62% of IQVIA's stock.

Analysts' Ratings and Price Targets

Recent ratings from analysts reflect various perspectives on IQVIA's stock. Stifel Nicolaus reduced its price target from $273.00 to $261.00 while maintaining a "buy" rating. Citigroup downgraded their target from $225.00 to $210.00 and assigned a "neutral" rating in a research note. Similarly, in a report by Leerink Partners, the stock was given an "outperform" rating with a price objective adjusted to $248.00 from $260.00. Truist Financial reiterated a "buy" rating with a slight increase in their price target to $263.00, while UBS Group lowered its target from $260.00 to $255.00, maintaining a "buy" rating. In total, five analysts suggest holding the stock, sixteen have issued buy ratings, and one has given a strong buy rating. According to MarketBeat data, IQVIA has an average rating of "Moderate Buy" with an average target price of $249.05.

Latest Trading Performance

Shares of IQVIA Holdings opened at $181.53 on Friday, reporting a 2.1% decrease. The stock's 50-day simple moving average is $196.87 while the 200-day moving average stands at $211.38. Over the past year, IQVIA has seen a low of $179.28 and a high of $256.76. The company holds a market capitalization of $32.01 billion with a price-to-earnings ratio of 24.20 and a price-to-earnings-growth ratio of 1.99. Its debt-to-equity ratio is 2.12 with quick and current ratios both at 0.84.

IQVIA's latest quarterly earnings report released on February 6 shows an earnings per share (EPS) of $2.90, which missed the consensus estimate of $3.11 by $0.21. The company reported a net margin of 8.91% and a return on equity of 28.81%. Analysts estimate that IQVIA will post an EPS of 10.84 for the current fiscal year.

About IQVIA Holdings Inc.

IQVIA Holdings Inc. specializes in providing advanced analytics, technology solutions, and clinical research services to the life sciences industry across the Americas, Europe, Africa, and the Asia-Pacific. The company operates through three segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions.

Conclusion

The adjustments in Parnassus Investments LLC's holdings, along with the actions of other institutional investors and varying analyst ratings, suggest a dynamic market environment for IQVIA Holdings Inc. As these developments unfold, investors will be closely monitoring the company's performance moving forward.

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