IQVIA (NYSE:IQV) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of IQVIA (NYSE:IQV) from a buy rating to a hold rating in a report issued on Tuesday.

IQV has been the subject of several other reports. The Goldman Sachs Group began coverage on IQVIA in a research note on Thursday, June 6th. They set a buy rating and a $270.00 target price for the company. Robert W. Baird upped their target price on IQVIA from $235.00 to $251.00 and gave the stock a neutral rating in a research note on Tuesday, July 23rd. UBS Group boosted their price target on IQVIA from $295.00 to $300.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. Jefferies Financial Group cut IQVIA from a buy rating to a hold rating and dropped their price target for the stock from $266.00 to $242.00 in a research report on Wednesday, July 24th. Finally, Morgan Stanley boosted their price target on IQVIA from $270.00 to $280.00 and gave the stock an overweight rating in a research report on Tuesday, July 23rd. Five equities research 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $265.67.

IQVIA Trading Up 0.3 %

Shares of NYSE:IQV opened at $251.54 on Tuesday. IQVIA has a 12-month low of $167.42 and a 12-month high of $261.73. The company has a market capitalization of $45.83 billion, a PE ratio of 34.36, a PEG ratio of 2.26 and a beta of 1.49. The business has a 50 day moving average of $231.33 and a two-hundred day moving average of $234.20. 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 earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.07. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.79 billion. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.22 EPS. As a group, analysts forecast that IQVIA will post 10.24 EPS for the current year.

Insider Buying and Selling at IQVIA

In other news, insider Eric Sherbet sold 1,300 shares of the stock in a transaction on 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 in the company, valued at approximately $4,812,302.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On IQVIA

A number of hedge funds have recently modified their holdings of IQV. Versant Capital Management Inc lifted its stake in IQVIA by 733.3% during the 2nd quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock worth $26,000 after acquiring an additional 110 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in IQVIA during the 2nd quarter worth about $27,000. Itau Unibanco Holding S.A. acquired a new position in IQVIA during the 2nd quarter worth about $29,000. Rise Advisors LLC acquired a new position in IQVIA during the 1st quarter worth about $31,000. Finally, Riverview Trust Co acquired a new position in IQVIA during the 1st quarter worth about $32,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

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.