BTIG Research Has Lowered Expectations for IQVIA (NYSE:IQV) Stock Price

IQVIA (NYSE:IQV) had its price objective reduced by BTIG Research from $290.00 to $260.00 in a research note published on Friday morning, Benzinga reports. BTIG Research currently has a buy rating on the medical research company’s stock.

Several other equities research analysts have also recently weighed in on IQV. Morgan Stanley boosted their target price on IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. TD Cowen decreased their target price on IQVIA from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Friday. Royal Bank of Canada restated an “outperform” rating and set a $270.00 target price on shares of IQVIA in a research note on Friday. Redburn Atlantic assumed coverage on IQVIA in a research note on Monday, October 14th. They set a “buy” rating and a $276.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their price objective on IQVIA from $288.00 to $279.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Four 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, IQVIA has a consensus rating of “Moderate Buy” and a consensus target price of $261.24.

IQVIA Stock Up 1.6 %

Shares of IQV traded up $3.34 during midday trading on Friday, hitting $209.16. The company had a trading volume of 1,791,887 shares, compared to its average volume of 1,125,496. The company’s 50-day simple moving average is $234.31 and its 200-day simple moving average is $229.74. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.85 and a current ratio of 0.81. The firm has a market capitalization of $38.13 billion, a P/E ratio of 27.45, a P/E/G ratio of 2.01 and a beta of 1.51. IQVIA has a 1 year low of $181.03 and a 1 year high of $261.73.

Insider Buying and Selling

In related news, insider Eric Sherbet sold 1,300 shares of the company’s 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 transaction, the insider now owns 19,536 shares of the company’s stock, valued at $4,812,302.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Canada Pension Plan Investment Board grew its holdings in IQVIA by 6.6% in 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 during the last quarter. Lazard Asset Management LLC grew its holdings in IQVIA by 0.9% in the first quarter. Lazard Asset Management LLC now owns 3,263,944 shares of the medical research company’s stock valued at $825,416,000 after purchasing an additional 30,014 shares during the last quarter. Farallon Capital Management LLC grew its holdings in IQVIA by 3.1% in the second quarter. Farallon Capital Management LLC now owns 2,923,032 shares of the medical research company’s stock valued at $618,046,000 after purchasing an additional 86,870 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in IQVIA by 3.8% in the first 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 last quarter. Finally, Capital Research Global Investors grew its holdings in IQVIA by 7.2% in the first quarter. Capital Research Global Investors now owns 2,138,802 shares of the medical research company’s stock valued at $540,882,000 after purchasing an additional 143,533 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.