Brokerages Set IQVIA Holdings Inc. (NYSE:IQV) Price Target at $256.40

Shares of IQVIA Holdings Inc. (NYSE:IQV) have received a consensus rating of “Moderate Buy” from the sixteen ratings firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $255.73.

A number of research analysts recently issued reports on the company. Robert W. Baird cut their price target on IQVIA from $241.00 to $235.00 and set a “neutral” rating for the company in a report on Wednesday. Truist Financial dropped their price objective on IQVIA from $297.00 to $292.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Barclays dropped their price objective on IQVIA from $275.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, June 28th. Evercore ISI dropped their price objective on IQVIA from $250.00 to $230.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, StockNews.com cut IQVIA from a “buy” rating to a “hold” rating in a report on Sunday, July 7th.

Hedge Funds Weigh In On IQVIA

Institutional investors and hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC grew its position in shares of IQVIA by 17.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 118,616 shares of the medical research company’s stock valued at $27,445,000 after purchasing an additional 17,677 shares during the period. Jennison Associates LLC grew its position in shares of IQVIA by 7.3% in the 1st quarter. Jennison Associates LLC now owns 140,914 shares of the medical research company’s stock valued at $35,636,000 after purchasing an additional 9,578 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of IQVIA by 4.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,418,392 shares of the medical research company’s stock valued at $532,070,000 after purchasing an additional 93,194 shares during the period. Cadian Capital Management LP acquired a new position in shares of IQVIA in the 4th quarter valued at approximately $70,108,000. Finally, Nomura Holdings Inc. acquired a new position in shares of IQVIA in the 4th quarter valued at approximately $857,000. 89.62% of the stock is currently owned by institutional investors and hedge funds.

IQVIA Stock Up 2.2 %

Shares of NYSE:IQV opened at $224.17 on Wednesday. The company’s fifty day moving average is $219.72 and its 200-day moving average is $228.99. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.88 and a current ratio of 0.88. IQVIA has a 52 week low of $167.42 and a 52 week high of $261.73. The company has a market capitalization of $40.84 billion, a PE ratio of 30.62, a P/E/G ratio of 1.93 and a beta of 1.49.

IQVIA (NYSE:IQV) last released its quarterly earnings results on Thursday, May 2nd. The medical research company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.11. IQVIA had a return on equity of 29.17% and a net margin of 9.01%. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Equities research analysts predict that IQVIA will post 10.11 earnings per share for the current fiscal year.

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.