StockNews.com Lowers IQVIA (NYSE:IQV) to Hold

IQVIA (NYSE:IQV) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Other equities analysts also recently issued reports about the stock. Truist Financial lifted their price target on shares of IQVIA from $292.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Argus raised shares of IQVIA to a “strong-buy” rating in a research note on Wednesday, July 31st. Evercore ISI boosted their target price on shares of IQVIA from $230.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. boosted their target price on shares of IQVIA from $260.00 to $288.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, The Goldman Sachs Group initiated coverage on shares of IQVIA in a research note on Thursday, June 6th. They issued a “buy” rating and a $270.00 target price for the company. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $265.67.

IQVIA Price Performance

IQV stock traded up $6.45 during trading on Thursday, hitting $236.07. 635,059 shares of the stock traded hands, compared to its average volume of 1,091,344. IQVIA has a one year low of $167.42 and a one year high of $261.73. The stock has a market cap of $43.01 billion, a price-to-earnings ratio of 32.25, a P/E/G ratio of 2.28 and a beta of 1.49. The company has a 50 day simple moving average of $222.16 and a 200 day simple moving average of $230.92. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.80.

IQVIA (NYSE:IQV) last announced its quarterly 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 net margin of 9.39% and a return on equity of 28.59%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period last year, the firm posted $2.22 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts expect that IQVIA will post 10.21 EPS for the current fiscal year.

Institutional Investors Weigh In On IQVIA

A number of institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in IQVIA during the fourth quarter valued at approximately $13,759,000. HBK Sorce Advisory LLC acquired a new position in IQVIA during the fourth quarter valued at approximately $206,000. Allspring Global Investments Holdings LLC grew its holdings in IQVIA by 28.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 165,211 shares of the medical research company’s stock valued at $38,227,000 after purchasing an additional 36,454 shares during the period. Harbor Investment Advisory LLC grew its holdings in IQVIA by 46.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 1,084 shares of the medical research company’s stock valued at $251,000 after purchasing an additional 345 shares during the period. Finally, Cerity Partners LLC boosted its holdings in shares of IQVIA by 6.4% in the fourth quarter. Cerity Partners LLC now owns 322,234 shares of the medical research company’s stock valued at $74,558,000 after buying an additional 19,370 shares during the period. 89.62% of the stock is owned by institutional investors.

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.