Truist Financial Has Lowered Expectations for IQVIA (NYSE:IQV) Stock Price

IQVIA (NYSE:IQV) had its price target decreased by Truist Financial from $265.00 to $261.00 in a report published on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the medical research company’s stock.

IQV has been the subject of a number of other research reports. Leerink Partners reissued an “outperform” rating and issued a $248.00 target price (down previously from $260.00) on shares of IQVIA in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of IQVIA from $270.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $270.00 target price on shares of IQVIA in a research report on Wednesday. Barclays dropped their price target on IQVIA from $260.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Finally, Robert W. Baird reduced their price objective on IQVIA from $213.00 to $212.00 and set a “neutral” rating for the company in a research report on Wednesday. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, IQVIA has an average rating of “Moderate Buy” and a consensus price target of $256.19.

IQVIA Stock Down 0.7 %

IQVIA stock opened at $199.06 on Thursday. IQVIA has a 12 month low of $187.62 and a 12 month high of $261.73. The stock has a fifty day simple moving average of $212.24 and a two-hundred day simple moving average of $224.21. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.76. The firm has a market cap of $36.13 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 2.07 and a beta of 1.49.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Canada Pension Plan Investment Board boosted its stake in shares of IQVIA by 6.6% in the second quarter. Canada Pension Plan Investment Board now owns 3,403,488 shares of the medical research company’s stock worth $719,634,000 after acquiring an additional 211,653 shares during the period. Farallon Capital Management LLC boosted its stake in IQVIA by 3.1% in the 2nd quarter. Farallon Capital Management LLC now owns 2,923,032 shares of the medical research company’s stock worth $618,046,000 after purchasing an additional 86,870 shares during the period. FMR LLC raised its position in shares of IQVIA by 38.7% during the third quarter. FMR LLC now owns 2,887,342 shares of the medical research company’s stock valued at $684,213,000 after buying an additional 804,963 shares during the last quarter. Impax Asset Management Group plc raised its position in shares of IQVIA by 9.7% during the third quarter. Impax Asset Management Group plc now owns 1,793,010 shares of the medical research company’s stock valued at $423,885,000 after buying an additional 157,809 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of IQVIA by 0.8% during the second quarter. Legal & General Group Plc now owns 1,514,237 shares of the medical research company’s stock worth $320,170,000 after acquiring an additional 11,715 shares during the last quarter. Institutional investors own 89.62% of the company’s stock.

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.