IQVIA (NYSE:IQV) Receives Outperform Rating from Royal Bank of Canada

IQVIA (NYSE:IQV)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a research note issued on Monday,Benzinga reports. They presently have a $270.00 price objective on the medical research company’s stock. Royal Bank of Canada’s price target points to a potential upside of 31.22% from the stock’s current price.

IQV has been the subject of several other reports. The Goldman Sachs Group decreased their price objective on shares of IQVIA from $280.00 to $250.00 and set a “buy” rating for the company in a report on Friday, November 1st. StockNews.com lowered shares of IQVIA from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th. TD Cowen cut their target price on shares of IQVIA from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Friday, November 1st. JPMorgan Chase & Co. cut their target price on shares of IQVIA from $279.00 to $240.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, Truist Financial restated a “buy” rating and set a $263.00 target price (up from $261.00) on shares of IQVIA in a research report on Monday. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, IQVIA presently has an average rating of “Moderate Buy” and an average price target of $252.50.

IQVIA Stock Down 1.1 %

IQVIA stock traded down $2.38 during trading hours on Monday, hitting $205.76. The stock had a trading volume of 282,535 shares, compared to its average volume of 1,395,800. The company has a quick ratio of 0.81, a current ratio of 0.84 and a debt-to-equity ratio of 2.12. The stock’s 50-day moving average price is $200.67 and its 200-day moving average price is $219.27. IQVIA has a 12-month low of $187.62 and a 12-month high of $261.73. The stock has a market capitalization of $37.35 billion, a P/E ratio of 27.43, a price-to-earnings-growth ratio of 2.25 and a beta of 1.48.

IQVIA (NYSE:IQV) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $2.90 earnings per share for the quarter, missing the consensus estimate of $3.11 by ($0.21). IQVIA had a net margin of 8.91% and a return on equity of 28.81%. Equities research analysts anticipate that IQVIA will post 10.81 EPS for the current fiscal year.

Insider Activity at IQVIA

In other news, Director John G. Danhakl bought 1,275 shares of IQVIA stock in a transaction dated Tuesday, December 3rd. The shares were acquired at an average price of $200.58 per share, with a total value of $255,739.50. Following the completion of the purchase, the director now owns 1,275 shares in the company, valued at $255,739.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new position in shares of IQVIA in the third quarter worth about $27,000. Synergy Asset Management LLC bought a new position in shares of IQVIA in the fourth quarter worth about $33,000. Avior Wealth Management LLC grew its holdings in IQVIA by 117.6% during the 3rd quarter. Avior Wealth Management LLC now owns 161 shares of the medical research company’s stock worth $38,000 after acquiring an additional 87 shares in the last quarter. Assetmark Inc. grew its holdings in IQVIA by 612.5% during the 3rd quarter. Assetmark Inc. now owns 228 shares of the medical research company’s stock worth $54,000 after acquiring an additional 196 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in IQVIA by 74.4% during the 3rd quarter. UMB Bank n.a. now owns 232 shares of the medical research company’s stock worth $55,000 after acquiring an additional 99 shares in the last quarter. 89.62% of the stock is currently 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.