Castle Hook Partners LP Takes $39.25 Million Position in IQVIA Holdings Inc. (NYSE:IQV)

Castle Hook Partners LP bought a new position in IQVIA Holdings Inc. (NYSE:IQV) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 165,646 shares of the medical research company’s stock, valued at approximately $39,253,000. IQVIA comprises about 0.7% of Castle Hook Partners LP’s investment portfolio, making the stock its 26th biggest holding.

Other large investors have also made changes to their positions in the company. First Foundation Advisors grew its holdings in IQVIA by 3.8% during the 2nd quarter. First Foundation Advisors now owns 1,161 shares of the medical research company’s stock worth $245,000 after acquiring an additional 43 shares during the last quarter. Invera Wealth Advisors LLC grew its holdings in IQVIA by 0.3% during the 2nd quarter. Invera Wealth Advisors LLC now owns 14,506 shares of the medical research company’s stock worth $3,183,000 after acquiring an additional 46 shares during the last quarter. Private Trust Co. NA grew its holdings in IQVIA by 10.7% during the 3rd quarter. Private Trust Co. NA now owns 485 shares of the medical research company’s stock worth $115,000 after acquiring an additional 47 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in IQVIA by 0.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 15,668 shares of the medical research company’s stock worth $3,313,000 after acquiring an additional 48 shares during the last quarter. Finally, Continuum Advisory LLC grew its holdings in IQVIA by 3.3% during the 2nd quarter. Continuum Advisory LLC now owns 1,538 shares of the medical research company’s stock worth $325,000 after acquiring an additional 49 shares during the last quarter. Institutional investors own 89.62% of the company’s stock.

IQVIA Stock Performance

Shares of IQV stock opened at $201.44 on Thursday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $36.56 billion, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 2.10 and a beta of 1.51. The company’s 50 day moving average price is $220.36 and its two-hundred day moving average price is $226.57. IQVIA Holdings Inc. has a 52 week low of $187.62 and a 52 week high of $261.73.

Wall Street Analysts Forecast Growth

IQV has been the topic of a number of research analyst reports. TD Cowen decreased their price objective on shares of IQVIA from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, November 1st. BTIG Research reduced their target price on shares of IQVIA from $290.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Leerink Partners reaffirmed an “outperform” rating and issued a $248.00 target price (down previously from $260.00) on shares of IQVIA in a research note on Tuesday, November 19th. StockNews.com lowered shares of IQVIA from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Argus raised shares of IQVIA to a “strong-buy” rating in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $256.50.

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.