IQVIA (NYSE:IQV) Hits New 1-Year Low – Here’s What Happened

Shares of IQVIA Holdings Inc. (NYSE:IQV) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $194.97 and last traded at $195.24, with a volume of 575499 shares trading hands. The stock had previously closed at $202.94.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IQV shares. Truist Financial decreased their price objective on IQVIA from $286.00 to $265.00 and set a “buy” rating for the company in a research report on Monday, November 4th. StockNews.com cut shares of IQVIA from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Redburn Atlantic began coverage on shares of IQVIA in a research report on Monday, October 14th. They issued a “buy” rating and a $276.00 target price for the company. Robert W. Baird lowered their price target on shares of IQVIA from $256.00 to $223.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on IQVIA from $270.00 to $265.00 and set a “buy” rating for the company in a report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, IQVIA has an average rating of “Moderate Buy” and a consensus price target of $259.13.

IQVIA Price Performance

The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $34.97 billion, a price-to-earnings ratio of 25.28, a P/E/G ratio of 2.17 and a beta of 1.51. The company’s 50 day moving average is $226.95 and its 200-day moving average is $228.29.

Insider Buying and Selling

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total transaction of $320,229.00. Following the transaction, the insider now owns 19,536 shares in the company, valued at $4,812,302.88. This trade represents a 6.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

Institutional Trading of IQVIA

Several large investors have recently modified their holdings of IQV. PGGM Investments grew its stake in IQVIA by 55.8% during the second quarter. PGGM Investments now owns 12,073 shares of the medical research company’s stock worth $2,553,000 after buying an additional 4,326 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of IQVIA during the 1st quarter worth approximately $3,365,000. Simplify Asset Management Inc. increased its stake in IQVIA by 67.8% in the third quarter. Simplify Asset Management Inc. now owns 9,637 shares of the medical research company’s stock valued at $2,284,000 after acquiring an additional 3,894 shares during the last quarter. Raymond James & Associates raised its position in IQVIA by 0.7% during the second quarter. Raymond James & Associates now owns 800,374 shares of the medical research company’s stock valued at $169,231,000 after purchasing an additional 5,417 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its stake in IQVIA by 253.0% during the first quarter. UniSuper Management Pty Ltd now owns 6,029 shares of the medical research company’s stock worth $1,525,000 after purchasing an additional 4,321 shares during the last quarter. 89.62% of the stock is owned by institutional investors and hedge funds.

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.