IQVIA (NYSE:IQV) Earns Outperform Rating from Leerink Partners

IQVIA (NYSE:IQV)‘s stock had its “outperform” rating reissued by equities researchers at Leerink Partners in a report released on Tuesday,Benzinga reports. They currently have a $248.00 price objective on the medical research company’s stock, down from their prior price objective of $260.00. Leerink Partners’ price target suggests a potential upside of 27.59% from the stock’s previous close.

Several other equities research analysts have also commented on IQV. Jefferies Financial Group lowered shares of IQVIA from a “buy” rating to a “hold” rating and reduced their price target for the company from $266.00 to $242.00 in a research report on Wednesday, July 24th. Redburn Atlantic assumed coverage on shares of IQVIA in a report on Monday, October 14th. They issued a “buy” rating and a $276.00 target price for the company. Morgan Stanley reduced their target price on shares of IQVIA from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $270.00 target price on shares of IQVIA in a report on Friday, November 1st. Finally, Truist Financial reduced their target price on shares of IQVIA from $286.00 to $265.00 and set a “buy” rating for the company in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, IQVIA presently has an average rating of “Moderate Buy” and an average price target of $256.50.

IQVIA Price Performance

NYSE IQV opened at $194.38 on Tuesday. IQVIA has a 52 week low of $187.62 and a 52 week high of $261.73. The firm has a market capitalization of $35.28 billion, a P/E ratio of 25.51, a PEG ratio of 1.98 and a beta of 1.51. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.76. The company has a 50-day moving average price of $224.22 and a 200-day moving average price of $227.56.

Insider Activity

In other news, insider Eric Sherbet sold 1,300 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 19,536 shares in the company, valued at approximately $4,812,302.88. This represents a 6.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of IQVIA

Institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc lifted its position in IQVIA by 733.3% in the second quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock worth $26,000 after buying an additional 110 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in IQVIA in the second quarter worth $27,000. Capital Performance Advisors LLP bought a new stake in IQVIA in the third quarter worth $27,000. Park Place Capital Corp bought a new stake in IQVIA in the third quarter worth $28,000. Finally, Itau Unibanco Holding S.A. bought a new stake in IQVIA in the second quarter worth $29,000. 89.62% of the stock is currently 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.