Truist Financial Lowers IQVIA (NYSE:IQV) Price Target to $265.00

IQVIA (NYSE:IQV) had its price objective lowered by investment analysts at Truist Financial from $286.00 to $265.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Truist Financial’s price objective points to a potential upside of 26.20% from the stock’s current price.

A number of other equities analysts have also issued reports on IQV. Royal Bank of Canada reissued an “outperform” rating and set a $270.00 price target on shares of IQVIA in a research report on Friday. Morgan Stanley cut their target price on shares of IQVIA from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Monday. Argus raised shares of IQVIA to a “strong-buy” rating in a report on Wednesday, July 31st. TD Cowen cut their target price on shares of IQVIA from $270.00 to $255.00 and set a “buy” rating for the company in a report on Friday. Finally, The Goldman Sachs Group cut their target price on shares of IQVIA from $280.00 to $250.00 and set a “buy” rating for the company in a report on Friday. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $261.56.

IQVIA Stock Performance

IQV stock traded up $0.83 during trading on Monday, reaching $209.99. The company had a trading volume of 694,006 shares, compared to its average volume of 1,085,565. The firm has a 50-day simple moving average of $234.31 and a 200-day simple moving average of $229.76. The company has a market cap of $38.28 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 2.01 and a beta of 1.51. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.85 and a current ratio of 0.81. IQVIA has a twelve month low of $190.20 and a twelve month high of $261.73.

Insiders Place Their Bets

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of IQVIA stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total transaction of $320,229.00. Following the sale, the insider now owns 19,536 shares of the company’s stock, valued at $4,812,302.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. First Foundation Advisors boosted its position in shares of IQVIA by 3.8% during the 2nd quarter. First Foundation Advisors now owns 1,161 shares of the medical research company’s stock valued at $245,000 after acquiring an additional 43 shares during the last quarter. Team Hewins LLC lifted its position in IQVIA by 5.0% in the first quarter. Team Hewins LLC now owns 973 shares of the medical research company’s stock valued at $246,000 after buying an additional 46 shares during the last quarter. Invera Wealth Advisors LLC lifted its position in IQVIA by 0.3% in the second quarter. Invera Wealth Advisors LLC now owns 14,506 shares of the medical research company’s stock valued at $3,183,000 after buying an additional 46 shares during the last quarter. Covestor Ltd lifted its position in IQVIA by 45.3% in the first quarter. Covestor Ltd now owns 154 shares of the medical research company’s stock valued at $39,000 after buying an additional 48 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in IQVIA by 0.3% in the second quarter. Oregon Public Employees Retirement Fund now owns 15,668 shares of the medical research company’s stock valued at $3,313,000 after buying an additional 48 shares during the last quarter. Institutional investors and hedge funds own 89.62% of the company’s stock.

IQVIA Company Profile

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.