IQVIA (NYSE:IQV) Shares Down 12.5% – Here’s Why

IQVIA Holdings Inc. (NYSE:IQV)’s stock price dropped 12.5% on Tuesday . The company traded as low as $203.48 and last traded at $202.3190. Approximately 3,440,167 shares traded hands during mid-day trading, an increase of 161% from the average daily volume of 1,316,846 shares. The stock had previously closed at $231.23.

Analyst Upgrades and Downgrades

IQV has been the subject of a number of recent research reports. Mizuho set a $266.00 price target on IQVIA in a research note on Friday, January 9th. Hsbc Global Res upgraded shares of IQVIA from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Evercore ISI upped their price objective on IQVIA from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Barclays set a $230.00 target price on shares of IQVIA in a research report on Monday, December 15th. Finally, JPMorgan Chase & Co. raised their price target on IQVIA from $177.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, IQVIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.06.

IQVIA Stock Down 12.1%

The company has a 50-day simple moving average of $231.00 and a 200-day simple moving average of $209.37. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market cap of $34.63 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 2.34 and a beta of 1.36.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Claret Asset Management Corp lifted its holdings in shares of IQVIA by 1.1% in the 3rd quarter. Claret Asset Management Corp now owns 4,527 shares of the medical research company’s stock worth $860,000 after buying an additional 49 shares during the period. Versant Capital Management Inc increased its holdings in shares of IQVIA by 6.3% in the 3rd quarter. Versant Capital Management Inc now owns 899 shares of the medical research company’s stock valued at $171,000 after acquiring an additional 53 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. raised its position in shares of IQVIA by 3.3% in the 4th quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 1,814 shares of the medical research company’s stock worth $409,000 after acquiring an additional 58 shares in the last quarter. Brookstone Capital Management raised its holdings in IQVIA by 2.2% in the fourth quarter. Brookstone Capital Management now owns 2,931 shares of the medical research company’s stock worth $661,000 after purchasing an additional 63 shares in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in shares of IQVIA by 1.0% in the 3rd quarter. Private Advisor Group LLC now owns 6,122 shares of the medical research company’s stock valued at $1,163,000 after buying an additional 63 shares in the last quarter. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

About IQVIA

IQVIA (NYSE: IQV) is a global provider of advanced analytics, technology solutions and contract research services to the life sciences industry. The company combines clinical research capabilities with large-scale health data and analytics to support drug development, regulatory reporting, commercial strategy and real?world evidence generation. IQVIA traces its current form to the combination of Quintiles and IMS Health announced in 2016 and subsequently rebranded as IQVIA, bringing together long-established clinical research operations and extensive healthcare information assets.

IQVIA’s principal activities include outsourced clinical development services (acting as a contract research organization for phases I–IV), real?world evidence and observational research, regulatory and safety services, and a suite of technology platforms that enable data integration, analytics and operational management.