Allstate Corp Invests $1.07 Million in IQVIA Holdings Inc.

Allstate Corp has made a significant investment in IQVIA Holdings Inc. (NYSE:IQV - Free Report) during the fourth quarter, as revealed by their latest Form 13F filing with the SEC. The firm purchased 5,420 shares of the medical research company, which amounts to an investment valued at approximately $1,065,000.

In addition to Allstate, several other institutional investors and hedge funds have adjusted their stakes in IQVIA. For instance, Norges Bank established a new position in IQVIA worth around $336,041,000 during the fourth quarter. Similarly, Raymond James Financial Inc. acquired shares valued at approximately $236,120,000 in the same period.

American Century Companies Inc. dramatically increased its position in IQVIA by 396.0%, bringing its total ownership to 1,134,737 shares valued at $222,987,000 after acquiring an additional 905,960 shares recently. Moreover, JPMorgan Chase & Co. raised its stake by 46.2%, owning 1,845,711 shares worth $437,378,000 after buying an extra 583,396 shares.

Furthermore, Nordea Investment Management AB boosted its holdings in IQVIA by 47.4%, attaining 1,405,281 shares worth $277,908,000 after acquiring 452,029 additional shares in the fourth quarter. Currently, institutional investors hold 89.62% of the company’s stock.

Performance of IQVIA Stock

On Monday, IQVIA stock opened at $177.27. The company reports a quick ratio of 0.84 and a current ratio of 0.84, indicating its ability to meet short-term obligations. The debt-to-equity ratio stands at 2.12. With a market capitalization of $31.25 billion, the company's price-to-earnings (PE) ratio is 23.64, while the price-to-earnings growth (PEG) ratio is 1.99. The stock has shown a beta of 1.50. The current 50-day moving average is $193.15, and the 200-day moving average is $206.05. Over the past year, IQVIA has experienced a low of $176.03 and a high of $253.84.

IQVIA recently released its quarterly earnings data on February 6th, reporting earnings per share (EPS) of $2.90, which fell short of analysts' consensus estimate of $3.11 by $0.21. The company has also recorded a return on equity of 28.81% and a net margin of 8.91%. Analysts predict that IQVIA Holdings Inc. will achieve an EPS of 10.84 for the current fiscal year.

Insights from Wall Street Analysts

IQVIA has been the subject of various research analyses recently. For example, Bank of America lowered its price target from $255.00 to $235.00 while maintaining a "buy" rating. Morgan Stanley also adjusted its price target to $250.00, rating it as "overweight." In contrast, BTIG Research downgraded the stock from "buy" to "neutral." Similarly, Stifel Nicolaus reduced their price target on IQVIA from $273.00 to $261.00 while preserving a "buy" rating. Presently, five analysts have rated the stock as "hold," sixteen gave it a "buy" rating, and one analyst rated it as a strong buy. According to MarketBeat.com data, the stock has an average rating of "Moderate Buy" and an average price target of $249.05.

IQVIA Company Overview

IQVIA Holdings Inc. specializes in providing advanced analytics, technology solutions, and clinical research services tailored for the life sciences industry. Its operations span across three key segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions.

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