IQVIA (NYSE:IQV) Lowered to Hold at StockNews.com

IQVIA (NYSE:IQV) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Other analysts have also issued research reports about the company. Morgan Stanley raised their price target on IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Truist Financial dropped their target price on shares of IQVIA from $300.00 to $286.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Barclays reduced their price target on shares of IQVIA from $275.00 to $260.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 15th. Argus upgraded shares of IQVIA to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, Redburn Atlantic started coverage on IQVIA in a report on Monday, October 14th. They set a “buy” rating and a $276.00 target price on the stock. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, IQVIA currently has a consensus rating of “Moderate Buy” and an average target price of $267.87.

IQVIA Price Performance

Shares of IQVIA stock opened at $231.22 on Tuesday. The firm has a market cap of $42.13 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 2.22 and a beta of 1.49. The company’s fifty day simple moving average is $239.07 and its two-hundred day simple moving average is $231.03. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.80. IQVIA has a 12-month low of $167.42 and a 12-month high of $261.73.

IQVIA (NYSE:IQV) last announced its quarterly earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.07. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the business earned $2.22 EPS. IQVIA’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts expect that IQVIA will post 10.25 EPS for the current year.

Insider Buying and Selling at IQVIA

In related news, insider Eric Sherbet sold 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total value of $320,229.00. Following the transaction, the insider now directly owns 19,536 shares of the company’s stock, valued at approximately $4,812,302.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On IQVIA

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Foundation Advisors raised its holdings in shares of IQVIA by 3.8% during the second quarter. First Foundation Advisors now owns 1,161 shares of the medical research company’s stock valued at $245,000 after purchasing an additional 43 shares during the last quarter. Team Hewins LLC lifted its holdings in shares of IQVIA by 5.0% during the 1st quarter. Team Hewins LLC now owns 973 shares of the medical research company’s stock valued at $246,000 after buying an additional 46 shares during the period. Invera Wealth Advisors LLC boosted its stake in shares of IQVIA by 0.3% in the 2nd quarter. Invera Wealth Advisors LLC now owns 14,506 shares of the medical research company’s stock worth $3,183,000 after buying an additional 46 shares during the last quarter. Covestor Ltd grew its holdings in shares of IQVIA by 45.3% in the first quarter. Covestor Ltd now owns 154 shares of the medical research company’s stock worth $39,000 after acquiring an additional 48 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in IQVIA by 0.3% during the second quarter. Oregon Public Employees Retirement Fund now owns 15,668 shares of the medical research company’s stock valued at $3,313,000 after acquiring an additional 48 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.