IQVIA (NYSE:IQV) Lowered to Hold at StockNews.com

StockNews.com cut shares of IQVIA (NYSE:IQV) from a buy rating to a hold rating in a report issued on Friday.

A number of other research firms also recently commented on IQV. Truist Financial boosted their price objective on IQVIA from $292.00 to $300.00 and gave the stock a buy rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. upped their price target on shares of IQVIA from $260.00 to $288.00 and gave the company an overweight rating in a report on Monday, August 5th. Royal Bank of Canada began coverage on shares of IQVIA in a research note on Wednesday, September 4th. They issued an outperform rating and a $275.00 price objective on the stock. Evercore ISI boosted their target price on shares of IQVIA from $230.00 to $270.00 and gave the stock an outperform rating in a report on Tuesday, July 23rd. Finally, Argus upgraded shares of IQVIA to a strong-buy rating in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $267.00.

IQVIA Price Performance

Shares of NYSE IQV opened at $234.56 on Friday. The firm’s 50-day simple moving average is $241.29 and its 200 day simple moving average is $233.69. The stock has a market cap of $42.74 billion, a P/E ratio of 32.04, a P/E/G ratio of 2.26 and a beta of 1.49. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.80. IQVIA has a fifty-two week low of $167.42 and a fifty-two week high of $261.73.

IQVIA (NYSE:IQV) last issued its quarterly 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. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period in the prior year, the business posted $2.22 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities analysts expect that IQVIA will post 10.25 EPS for the current year.

Insider Transactions at IQVIA

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 transaction of $320,229.00. Following the transaction, the insider now directly owns 19,536 shares of the company’s stock, valued at $4,812,302.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of IQVIA by 339.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,067,195 shares of the medical research company’s stock valued at $478,308,000 after buying an additional 1,597,003 shares during the period. Morningstar Investment Services LLC boosted its position in IQVIA by 96.9% during the fourth quarter. Morningstar Investment Services LLC now owns 1,231,916 shares of the medical research company’s stock valued at $286,704,000 after purchasing an additional 606,333 shares during the last quarter. Capital Research Global Investors grew its stake in IQVIA by 42.2% in the fourth quarter. Capital Research Global Investors now owns 1,995,269 shares of the medical research company’s stock valued at $461,675,000 after purchasing an additional 592,372 shares in the last quarter. 1832 Asset Management L.P. increased its position in IQVIA by 472.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 456,335 shares of the medical research company’s stock worth $96,487,000 after purchasing an additional 376,595 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of IQVIA during the 2nd quarter worth about $70,610,000. Institutional investors and hedge funds own 89.62% of the company’s stock.

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.