Truist Financial Cuts IQVIA (NYSE:IQV) Price Target to $261.00

IQVIA (NYSE:IQV) had its price target reduced by Truist Financial from $265.00 to $261.00 in a research report sent to investors on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the medical research company’s stock.

A number of other brokerages have also recently commented on IQV. Leerink Partners reaffirmed an “outperform” rating and issued a $248.00 price target (down from $260.00) on shares of IQVIA in a research note on Tuesday, November 19th. BTIG Research lowered their price target on shares of IQVIA from $290.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 1st. Barclays cut their price target on shares of IQVIA from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $270.00 price objective on shares of IQVIA in a research note on Wednesday. Finally, Redburn Atlantic assumed coverage on IQVIA in a research note on Monday, October 14th. They issued a “buy” rating and a $276.00 target price on the stock. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.19.

IQVIA Stock Down 0.7 %

Shares of NYSE:IQV opened at $199.06 on Thursday. The stock has a market capitalization of $36.13 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 2.07 and a beta of 1.49. The stock’s 50-day moving average price is $212.24 and its 200-day moving average price is $224.21. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.76. IQVIA has a 12-month low of $187.62 and a 12-month high of $261.73.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Oddo BHF Asset Management Sas purchased a new stake in IQVIA in the third quarter worth about $2,771,000. Franklin Resources Inc. grew its stake in shares of IQVIA by 1.2% in the 3rd quarter. Franklin Resources Inc. now owns 501,807 shares of the medical research company’s stock worth $117,031,000 after buying an additional 6,011 shares during the last quarter. Tidal Investments LLC raised its stake in IQVIA by 9.3% during the third quarter. Tidal Investments LLC now owns 5,980 shares of the medical research company’s stock valued at $1,417,000 after buying an additional 509 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in IQVIA in the third quarter worth $2,310,000. Finally, Arvest Bank Trust Division purchased a new stake in shares of IQVIA in the third quarter worth $21,079,000. 89.62% of the stock is currently owned by 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.