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

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

IQVIA Stock Down 0.5 %

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

Institutional Investors Weigh In On IQVIA

Several institutional investors have recently added to or reduced their stakes in IQV. Capital Performance Advisors LLP bought a new position in shares of IQVIA during the 3rd quarter worth approximately $27,000. Park Place Capital Corp bought a new stake in IQVIA during the 3rd quarter worth about $28,000. Itau Unibanco Holding S.A. acquired a new position in shares of IQVIA during the 2nd quarter worth about $29,000. International Assets Investment Management LLC bought a new position in shares of IQVIA in the 2nd quarter valued at about $32,000. Finally, Avior Wealth Management LLC boosted its position in IQVIA by 117.6% during the third quarter. Avior Wealth Management LLC now owns 161 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 87 shares during the last quarter. 89.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IQV has been the topic of a number of research analyst reports. Morgan Stanley lowered their target price on shares of IQVIA from $280.00 to $265.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. StockNews.com downgraded shares of IQVIA from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Barclays cut their target price on shares of IQVIA from $260.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. TD Cowen reduced their target price on IQVIA from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Bank of America lowered their target price on shares of IQVIA from $255.00 to $235.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $255.82.

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.