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

IQVIA (NYSE:IQV) had its price target lowered by Barclays from $275.00 to $260.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the medical research company’s stock.

A number of other research analysts also recently commented on IQV. Redburn Atlantic started coverage on shares of IQVIA in a research report on Monday. They issued a buy rating and a $276.00 target price on the stock. JPMorgan Chase & Co. upped their target price on IQVIA from $260.00 to $288.00 and gave the company an overweight rating in a research report on Monday, August 5th. Evercore ISI lowered their price objective on shares of IQVIA from $270.00 to $265.00 and set an outperform rating on the stock in a research report on Tuesday, October 8th. Argus raised shares of IQVIA to a strong-buy rating in a report on Wednesday, July 31st. Finally, Truist Financial reduced their price objective on IQVIA from $300.00 to $286.00 and set a buy rating for the company in a research note on Monday. Four 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. Based on data from MarketBeat.com, IQVIA presently has an average rating of Moderate Buy and a consensus target price of $267.87.

IQVIA Stock Performance

Shares of IQV stock opened at $232.98 on Tuesday. The company has a market cap of $42.45 billion, a P/E ratio of 31.83, a PEG ratio of 2.18 and a beta of 1.49. The firm has a fifty day moving average price of $239.07 and a 200 day moving average price of $231.32. 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 has a 12 month low of $167.42 and a 12 month high of $261.73.

IQVIA (NYSE:IQV) last released its quarterly earnings data 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 business had revenue of $3.81 billion for 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 revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.22 EPS. Sell-side analysts predict that IQVIA will post 10.25 earnings per share 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 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 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 filing with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC raised its stake in IQVIA by 7.3% in the 1st quarter. Jennison Associates LLC now owns 140,914 shares of the medical research company’s stock valued at $35,636,000 after purchasing an additional 9,578 shares during the last quarter. Nomura Holdings Inc. acquired a new position in IQVIA in the 4th quarter valued at about $857,000. PGGM Investments raised its stake in IQVIA by 55.8% in the 2nd quarter. PGGM Investments now owns 12,073 shares of the medical research company’s stock valued at $2,553,000 after purchasing an additional 4,326 shares during the last quarter. Fiduciary Alliance LLC acquired a new position in IQVIA in the 1st quarter valued at about $1,864,000. Finally, SG Americas Securities LLC grew its holdings in IQVIA by 80.1% in the 1st quarter. SG Americas Securities LLC now owns 45,787 shares of the medical research company’s stock valued at $11,579,000 after buying an additional 20,369 shares during the period. Institutional investors and hedge funds own 89.62% of the company’s stock.

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.