JPMorgan Chase & Co. Cuts IQVIA (NYSE:IQV) Price Target to $232.00

IQVIA (NYSE:IQV) had its target price trimmed by JPMorgan Chase & Co. from $240.00 to $232.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the medical research company’s stock.

IQV has been the subject of a number of other reports. Bank of America dropped their price objective on shares of IQVIA from $255.00 to $235.00 and set a “buy” rating for the company in a report on Friday, December 13th. Barclays dropped their price target on IQVIA from $255.00 to $235.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $270.00 price objective on shares of IQVIA in a research report on Monday, February 10th. TD Cowen dropped their target price on IQVIA from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Truist Financial reiterated a “buy” rating and set a $263.00 price target (up from $261.00) on shares of IQVIA in a research report on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, IQVIA has a consensus rating of “Moderate Buy” and an average price target of $251.22.

IQVIA Price Performance

IQVIA stock opened at $194.01 on Tuesday. The stock has a market cap of $34.16 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 1.98 and a beta of 1.48. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 2.12. The business has a 50-day simple moving average of $199.86 and a 200 day simple moving average of $216.95. IQVIA has a 52 week low of $187.62 and a 52 week high of $261.73.

IQVIA (NYSE:IQV) last issued its quarterly earnings data on Thursday, February 6th. The medical research company reported $2.90 EPS for the quarter, missing the consensus estimate of $3.11 by ($0.21). IQVIA had a return on equity of 28.81% and a net margin of 8.91%. On average, research analysts forecast that IQVIA will post 10.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other IQVIA news, Director John G. Danhakl bought 1,275 shares of IQVIA stock in a transaction dated Tuesday, December 3rd. The shares were purchased at an average cost of $200.58 per share, with a total value of $255,739.50. Following the transaction, the director now directly owns 1,275 shares of the company’s stock, valued at $255,739.50. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On IQVIA

Several hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new position in shares of IQVIA during the third quarter valued at approximately $27,000. Synergy Asset Management LLC purchased a new stake in shares of IQVIA in the 4th quarter worth approximately $33,000. Avior Wealth Management LLC increased its position in IQVIA by 117.6% during the 3rd quarter. Avior Wealth Management LLC now owns 161 shares of the medical research company’s stock valued at $38,000 after buying an additional 87 shares in the last quarter. GKV Capital Management Co. Inc. purchased a new position in IQVIA during the fourth quarter valued at $39,000. Finally, Lee Danner & Bass Inc. bought a new stake in IQVIA in the fourth quarter worth $44,000. Institutional investors 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.