IQVIA (NYSE:IQV) PT Lowered to $260.00 at Barclays

IQVIA (NYSE:IQV) had its price objective reduced by analysts at Barclays from $275.00 to $260.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the medical research company’s stock. Barclays‘s price objective points to a potential upside of 11.49% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Evercore ISI cut their price target on shares of IQVIA from $270.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Truist Financial decreased their price target on shares of IQVIA from $300.00 to $286.00 and set a “buy” rating for the company in a report on Monday. Royal Bank of Canada assumed coverage on IQVIA in a research report on Wednesday, September 4th. They set an “outperform” rating and a $275.00 price objective for the company. Morgan Stanley lifted 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. Finally, JPMorgan Chase & Co. lifted their target price on IQVIA from $260.00 to $288.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.87.

IQVIA Stock Performance

IQV traded down $0.02 on Tuesday, reaching $233.20. 451,078 shares of the stock were exchanged, compared to its average volume of 1,066,378. The company’s 50-day moving average price is $239.15 and its 200 day moving average price is $231.46. IQVIA has a fifty-two week low of $167.42 and a fifty-two week high of $261.73. The firm has a market capitalization of $42.49 billion, a PE ratio of 31.86, a PEG ratio of 2.18 and a beta of 1.49. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.85 and a quick ratio of 0.85.

IQVIA (NYSE:IQV) last announced its earnings results on Monday, July 22nd. The medical research company reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.07. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.79 billion. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. IQVIA’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the business posted $2.22 EPS. As a group, sell-side analysts forecast that IQVIA will post 10.25 EPS for the current fiscal year.

Insider Activity at IQVIA

In other news, insider Eric Sherbet sold 1,300 shares of IQVIA stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total value of $320,229.00. Following the transaction, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this link. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IQVIA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IQV. Canada Pension Plan Investment Board boosted its holdings in IQVIA by 6.6% during 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 purchasing an additional 211,653 shares in the last quarter. Lazard Asset Management LLC boosted its stake in 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 worth $825,416,000 after purchasing an additional 30,014 shares during the period. Farallon Capital Management LLC boosted its stake 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 buying an additional 86,870 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of IQVIA by 3.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,510,685 shares of the medical research company’s stock valued at $634,927,000 after purchasing an additional 92,293 shares during the period. Finally, Capital Research Global Investors raised its holdings in IQVIA by 7.2% in the 1st quarter. Capital Research Global Investors now owns 2,138,802 shares of the medical research company’s stock valued at $540,882,000 after acquiring an additional 143,533 shares during the period. 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.