Truist Financial Lowers IQVIA (NYSE:IQV) Price Target to $286.00

IQVIA (NYSE:IQV) had its target price dropped by stock analysts at Truist Financial from $300.00 to $286.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Truist Financial’s target price suggests a potential upside of 24.07% from the company’s previous close.

Other analysts also recently issued research reports about the company. Robert W. Baird boosted their target price on IQVIA from $251.00 to $256.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Morgan Stanley boosted their target price on IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. boosted their price objective on IQVIA from $260.00 to $288.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Barclays boosted their price objective on IQVIA from $255.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Finally, UBS Group boosted their price objective on IQVIA from $295.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.36.

IQVIA Price Performance

Shares of IQV traded up $1.26 during trading hours on Monday, reaching $230.52. 72,200 shares of the company’s stock traded hands, compared to its average volume of 1,066,160. The stock has a market cap of $42.00 billion, a PE ratio of 31.36, a price-to-earnings-growth ratio of 2.18 and a beta of 1.49. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.80. The firm’s 50 day simple moving average is $239.16 and its 200-day simple moving average is $231.59. IQVIA has a 12 month low of $167.42 and a 12 month high of $261.73.

IQVIA (NYSE:IQV) last released its earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.07. The company had revenue of $3.81 billion during 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%. IQVIA’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.22 EPS. Equities analysts expect that IQVIA will post 10.25 EPS for the current year.

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 value of $320,229.00. Following the sale, the insider now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On IQVIA

Hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its holdings in IQVIA by 7.3% in the first quarter. Jennison Associates LLC now owns 140,914 shares of the medical research company’s stock worth $35,636,000 after acquiring an additional 9,578 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of IQVIA during the fourth quarter valued at $857,000. PGGM Investments lifted its holdings in shares of IQVIA by 55.8% during the second 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 in the last quarter. Fiduciary Alliance LLC bought a new position in shares of IQVIA during the first quarter valued at $1,864,000. Finally, SG Americas Securities LLC lifted its holdings in shares of IQVIA by 80.1% during the first quarter. SG Americas Securities LLC now owns 45,787 shares of the medical research company’s stock valued at $11,579,000 after purchasing an additional 20,369 shares in the last quarter. 89.62% of the stock is owned by institutional investors.

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.