IQVIA (NYSE:IQV) PT Lowered to $292.00

IQVIA (NYSE:IQV) had its price objective decreased by analysts at Truist Financial from $297.00 to $292.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Truist Financial’s target price points to a potential upside of 30.72% from the company’s previous close.

Other research analysts have also issued research reports about the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of IQVIA in a research report on Monday, February 26th. SVB Leerink started coverage on IQVIA in a research report on Monday, February 26th. They set an “outperform” rating and a $290.00 price objective for the company. BTIG Research started coverage on IQVIA in a research report on Tuesday, February 13th. They set a “buy” rating and a $285.00 price objective for the company. UBS Group raised their price objective on IQVIA from $240.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Finally, StockNews.com upgraded shares of IQVIA from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $257.57.

IQVIA Trading Up 0.6 %

IQV traded up $1.23 during midday trading on Friday, reaching $223.37. 1,052,929 shares of the company’s stock traded hands, compared to its average volume of 831,136. The firm has a fifty day moving average of $244.08 and a two-hundred day moving average of $224.01. The stock has a market capitalization of $40.54 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 2.16 and a beta of 1.52. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.88 and a quick ratio of 0.86. IQVIA has a 52 week low of $167.42 and a 52 week high of $261.73.

IQVIA (NYSE:IQV) last released its quarterly earnings results on Wednesday, February 14th. The medical research company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.02. IQVIA had a return on equity of 29.17% and a net margin of 9.01%. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.80 billion. During the same quarter in the prior year, the company posted $2.54 EPS. IQVIA’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, equities analysts anticipate that IQVIA will post 10.12 earnings per share for the current fiscal year.

Insider Buying and Selling at IQVIA

In other IQVIA news, insider Ari Bousbib sold 31,678 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the completion of the sale, the insider now directly owns 796,752 shares in the company, valued at approximately $199,610,278.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Kevin C. Knightly sold 8,607 shares of IQVIA stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $250.17, for a total transaction of $2,153,213.19. Following the transaction, the insider now directly owns 5,251 shares in the company, valued at $1,313,642.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ari Bousbib sold 31,678 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $250.53, for a total value of $7,936,289.34. Following the completion of the sale, the insider now owns 796,752 shares of the company’s stock, valued at approximately $199,610,278.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,285 shares of company stock valued at $10,331,003. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On IQVIA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its stake in shares of IQVIA by 3.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 20,753 shares of the medical research company’s stock valued at $4,083,000 after buying an additional 726 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in shares of IQVIA by 65.6% in the third quarter. Pinnacle Associates Ltd. now owns 1,678 shares of the medical research company’s stock worth $330,000 after acquiring an additional 665 shares during the period. Stratos Wealth Partners LTD. grew its position in shares of IQVIA by 6.4% during the third quarter. Stratos Wealth Partners LTD. now owns 6,739 shares of the medical research company’s stock worth $1,326,000 after purchasing an additional 404 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in IQVIA by 1.4% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 89,900 shares of the medical research company’s stock valued at $17,688,000 after purchasing an additional 1,200 shares during the period. Finally, Brown Advisory Inc. lifted its holdings in IQVIA by 11.8% in the 3rd quarter. Brown Advisory Inc. now owns 1,688 shares of the medical research company’s stock worth $332,000 after purchasing an additional 178 shares in the last quarter. 89.62% of the stock is owned by hedge funds and other 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.