IQVIA (NYSE:IQV) Hits New 1-Year Low – Here’s What Happened

IQVIA Holdings Inc. (NYSE:IQV)’s share price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $194.97 and last traded at $195.24, with a volume of 575499 shares trading hands. The stock had previously closed at $202.94.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. The Goldman Sachs Group dropped their target price 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. Royal Bank of Canada reissued an “outperform” rating and issued a $270.00 price objective on shares of IQVIA in a research note on Friday, November 1st. Redburn Atlantic started coverage on shares of IQVIA in a research report on Monday, October 14th. They issued a “buy” rating and a $276.00 target price on the stock. Barclays lowered their price target on shares of IQVIA from $260.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. cut their price objective on IQVIA from $279.00 to $240.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $259.13.

IQVIA Stock Performance

The stock’s 50 day moving average price is $226.95 and its 200 day moving average price is $228.29. The company has a market capitalization of $34.97 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 2.17 and a beta of 1.51. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.81 and a current ratio of 0.81.

Insider Buying and Selling at IQVIA

In related news, insider Eric Sherbet sold 1,300 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total transaction of $320,229.00. Following the transaction, the insider now owns 19,536 shares in the company, valued at $4,812,302.88. The trade was a 6.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On IQVIA

Several hedge funds and other institutional investors have recently bought and sold shares of IQV. Capital Performance Advisors LLP bought a new stake in IQVIA in the 3rd quarter valued at about $27,000. Park Place Capital Corp acquired a new position in shares of IQVIA during the third quarter worth approximately $28,000. Versant Capital Management Inc lifted its holdings in shares of IQVIA by 733.3% in the 2nd quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock worth $26,000 after purchasing an additional 110 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in IQVIA in the 2nd quarter valued at $27,000. Finally, Itau Unibanco Holding S.A. bought a new stake in IQVIA during the 2nd quarter valued at $29,000. 89.62% of the stock is 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.