IQVIA (NYSE:IQV) Earns “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of IQVIA (NYSE:IQV) in a report released on Monday,Benzinga reports. The brokerage currently has a $270.00 price target on the medical research company’s stock.

A number of other equities analysts have also commented on the company. Stifel Nicolaus cut their price objective on IQVIA from $273.00 to $261.00 and set a “buy” rating on the stock in a research note on Friday. TD Cowen reduced their price objective on shares of IQVIA from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Bank of America lowered their target price on shares of IQVIA from $255.00 to $235.00 and set a “buy” rating for the company in a research note on Friday, December 13th. The Goldman Sachs Group cut their price target on shares of IQVIA from $280.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Robert W. Baird lowered their price objective on IQVIA from $212.00 to $210.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $252.50.

IQVIA Stock Down 0.7 %

NYSE:IQV opened at $206.67 on Monday. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.84 and a quick ratio of 0.81. IQVIA has a one year low of $187.62 and a one year high of $261.73. The firm’s 50 day simple moving average is $200.67 and its 200 day simple moving average is $219.27. The company has a market cap of $37.51 billion, a PE ratio of 27.56, a P/E/G ratio of 2.25 and a beta of 1.48.

IQVIA (NYSE:IQV) last issued 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 return on equity of 28.81% and a net margin of 8.91%. On average, research analysts anticipate that IQVIA will post 10.81 earnings per share for the current year.

Insider Activity

In related news, Director John G. Danhakl bought 1,275 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average price of $200.58 per share, for a total transaction of $255,739.50. Following the completion of the acquisition, the director now directly owns 1,275 shares of the company’s stock, valued at $255,739.50. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On IQVIA

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Smith Group Asset Management LLC purchased a new stake in shares of IQVIA in the fourth quarter valued at about $1,616,000. Simplify Asset Management Inc. increased its stake in IQVIA by 67.8% in the 3rd quarter. Simplify Asset Management Inc. now owns 9,637 shares of the medical research company’s stock valued at $2,284,000 after buying an additional 3,894 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of IQVIA by 47.4% in the 4th quarter. Nordea Investment Management AB now owns 1,405,281 shares of the medical research company’s stock worth $277,908,000 after buying an additional 452,029 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of IQVIA by 13.0% in the fourth quarter. Fifth Third Bancorp now owns 13,179 shares of the medical research company’s stock valued at $2,590,000 after acquiring an additional 1,521 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of IQVIA by 46.2% during the third quarter. JPMorgan Chase & Co. now owns 1,845,711 shares of the medical research company’s stock valued at $437,378,000 after acquiring an additional 583,396 shares during the last quarter. 89.62% of the stock is owned by hedge funds and other 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.