StockNews.com Upgrades IQVIA (NYSE:IQV) to “Buy”

IQVIA (NYSE:IQV) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other research analysts have also issued reports on the company. Evercore ISI dropped their price objective on IQVIA from $275.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. The Goldman Sachs Group started coverage on IQVIA in a research note on Thursday, June 6th. They set a “buy” rating and a $270.00 price objective for the company. Barclays dropped their price objective on IQVIA from $275.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday. Robert W. Baird dropped their price objective on IQVIA from $254.00 to $245.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Finally, Truist Financial dropped their price objective on IQVIA from $297.00 to $292.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.73.

IQVIA Stock Performance

Shares of NYSE IQV opened at $211.35 on Friday. The business has a fifty day simple moving average of $223.93 and a 200 day simple moving average of $230.06. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $38.51 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 1.92 and a beta of 1.53. IQVIA has a one year low of $167.42 and a one year high of $261.73.

IQVIA (NYSE:IQV) last issued its earnings results on Thursday, May 2nd. The medical research company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.11. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. IQVIA had a return on equity of 29.17% and a net margin of 9.01%. Sell-side analysts expect that IQVIA will post 10.11 EPS for the current year.

Hedge Funds Weigh In On IQVIA

Several hedge funds have recently added to or reduced their stakes in IQV. Los Angeles Capital Management LLC boosted its holdings in IQVIA by 17.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 118,616 shares of the medical research company’s stock worth $27,445,000 after buying an additional 17,677 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in IQVIA by 4.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,418,392 shares of the medical research company’s stock worth $532,070,000 after buying an additional 93,194 shares during the last quarter. Cadian Capital Management LP acquired a new stake in shares of IQVIA during the fourth quarter worth about $70,108,000. Nomura Holdings Inc. acquired a new stake in shares of IQVIA during the fourth quarter worth about $857,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of IQVIA during the fourth quarter worth about $13,759,000. Institutional investors own 89.62% of the company’s stock.

IQVIA Company Profile

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.