IQVIA (NYSE:IQV) Price Target Cut to $265.00

by · The Cerbat Gem

IQVIA (NYSE:IQV – Get Free Report) had its price target dropped by research analysts at Evercore ISI from $270.00 to $265.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the medical research company’s stock. Evercore ISI’s target price would indicate a potential upside of 15.83% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of IQVIA from $260.00 to $288.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Barclays increased their price objective on IQVIA from $255.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada initiated coverage on IQVIA in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $275.00 target price on the stock. UBS Group increased their price target on IQVIA from $295.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, StockNews.com cut shares of IQVIA from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, IQVIA has an average rating of “Moderate Buy” and a consensus price target of $266.67.

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IQVIA Price Performance

IQV stock opened at $228.79 on Tuesday. IQVIA has a 1 year low of $167.42 and a 1 year high of $261.73. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $41.69 billion, a PE ratio of 31.26, a price-to-earnings-growth ratio of 2.18 and a beta of 1.49. The business has a 50 day simple moving average of $240.12 and a 200-day simple moving average of $232.02.

IQVIA (NYSE:IQV – Get Free Report) last issued its earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.07. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the prior year, the business earned $2.22 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts anticipate that IQVIA will post 10.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Eric Sherbet sold 1,300 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total transaction of $320,229.00. Following the completion of the transaction, the insider now directly owns 19,536 shares of the company’s stock, valued at approximately $4,812,302.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On IQVIA

Institutional investors have recently modified their holdings of the company. Canada Pension Plan Investment Board raised its stake in 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 valued at $719,634,000 after buying an additional 211,653 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of IQVIA by 0.9% in the 1st quarter. Lazard Asset Management LLC now owns 3,263,944 shares of the medical research company’s stock valued at $825,416,000 after acquiring an additional 30,014 shares during the last quarter. Farallon Capital Management LLC raised its position in shares of IQVIA by 3.1% during the 2nd quarter. Farallon Capital Management LLC now owns 2,923,032 shares of the medical research company’s stock worth $618,046,000 after acquiring an additional 86,870 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in IQVIA by 3.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,510,685 shares of the medical research company’s stock worth $634,927,000 after purchasing an additional 92,293 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in IQVIA by 7.2% in the first quarter. Capital Research Global Investors now owns 2,138,802 shares of the medical research company’s stock valued at $540,882,000 after purchasing an additional 143,533 shares during the last quarter. 89.62% of the stock is owned by hedge funds and other institutional investors.

About IQVIA

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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.

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