IQVIA (NYSE:IQV) Price Target Cut to $255.00 by Analysts at Barclays

IQVIA (NYSE:IQV) had its price objective cut by Barclays from $275.00 to $255.00 in a report released on Friday morning, Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

Other research analysts have also recently issued reports about the stock. StockNews.com cut shares of IQVIA from a buy rating to a hold rating in a report on Friday, June 21st. Truist Financial dropped their target price on shares of IQVIA from $297.00 to $292.00 and set a buy rating on the stock in a report on Friday, May 3rd. Robert W. Baird dropped their target price on shares of IQVIA from $254.00 to $245.00 and set a neutral rating on the stock in a report on Friday, May 3rd. Evercore ISI dropped their target price on shares of IQVIA from $275.00 to $250.00 and set an outperform rating on the stock in a report on Friday, May 3rd. Finally, The Goldman Sachs Group began coverage on shares of IQVIA in a report on Thursday, June 6th. They set a buy rating and a $270.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $257.73.

IQVIA Trading Down 0.7 %

IQV stock opened at $211.35 on Friday. The firm’s fifty day simple moving average is $223.93 and its two-hundred day simple moving average is $230.06. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $38.51 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 1.94 and a beta of 1.53. IQVIA has a twelve month low of $167.42 and a twelve month high of $261.73.

IQVIA (NYSE:IQV) last posted its quarterly earnings results on Thursday, May 2nd. The medical research company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.11. The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. IQVIA had a net margin of 9.01% and a return on equity of 29.17%. As a group, analysts anticipate that IQVIA will post 10.11 earnings per share for the current year.

Hedge Funds Weigh In On IQVIA

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC raised its position in shares of IQVIA by 0.9% in the 1st quarter. Lazard Asset Management LLC now owns 3,263,944 shares of the medical research company’s stock valued at $825,416,000 after purchasing an additional 30,014 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of IQVIA by 6.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,191,835 shares of the medical research company’s stock valued at $807,183,000 after purchasing an additional 193,304 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in IQVIA by 3.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,510,685 shares of the medical research company’s stock worth $634,927,000 after buying an additional 92,293 shares during the last quarter. Capital Research Global Investors raised its position in IQVIA by 7.2% during the 1st quarter. Capital Research Global Investors now owns 2,138,802 shares of the medical research company’s stock worth $540,882,000 after buying an additional 143,533 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in IQVIA by 339.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,067,195 shares of the medical research company’s stock worth $478,308,000 after buying an additional 1,597,003 shares during 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.