IQVIA (NYSE:IQV) Sets New 12-Month Low – Here’s What Happened

IQVIA Holdings Inc. (NYSE:IQV) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $179.12 and last traded at $180.49, with a volume of 637977 shares trading hands. The stock had previously closed at $181.39.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Stifel Nicolaus lowered their price objective on shares of IQVIA from $273.00 to $261.00 and set a “buy” rating for the company in a report on Friday, February 7th. Morgan Stanley lifted their price target on IQVIA from $245.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Stephens assumed coverage on IQVIA in a report on Friday, December 20th. They issued an “overweight” rating and a $250.00 price objective for the company. Citigroup dropped their target price on shares of IQVIA from $225.00 to $210.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, William Blair reiterated an “outperform” rating on shares of IQVIA in a research note on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $249.05.

IQVIA Price Performance

The firm has a 50-day moving average of $194.24 and a 200 day moving average of $207.29. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $31.72 billion, a PE ratio of 24.02, a PEG ratio of 1.99 and a beta of 1.50.

IQVIA (NYSE:IQV) last announced its quarterly earnings results on Thursday, February 6th. The medical research company reported $2.90 EPS for the quarter, missing analysts’ consensus estimates of $3.11 by ($0.21). IQVIA had a return on equity of 28.81% and a net margin of 8.91%. As a group, research analysts anticipate that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IQVIA

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in IQVIA by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 20,131,734 shares of the medical research company’s stock valued at $3,956,087,000 after acquiring an additional 105,504 shares during the period. Canada Pension Plan Investment Board increased its position in shares of IQVIA by 20.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 4,282,024 shares of the medical research company’s stock valued at $841,461,000 after purchasing an additional 712,958 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of IQVIA by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 4,175,524 shares of the medical research company’s stock worth $818,315,000 after purchasing an additional 77,981 shares during the period. FMR LLC boosted its holdings in shares of IQVIA by 38.7% in the third quarter. FMR LLC now owns 2,887,342 shares of the medical research company’s stock worth $684,213,000 after buying an additional 804,963 shares during the last quarter. Finally, Invesco Ltd. grew its position in IQVIA by 53.4% during the fourth quarter. Invesco Ltd. now owns 2,590,260 shares of the medical research company’s stock valued at $509,012,000 after buying an additional 902,226 shares during the period. 89.62% of the stock is owned by institutional investors.

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.