IQVIA (NYSE:IQV) Reaches New 52-Week Low Following Analyst Downgrade

IQVIA Holdings Inc. (NYSE:IQV)’s stock price reached a new 52-week low during trading on Wednesday after Citigroup lowered their price target on the stock from $225.00 to $210.00. Citigroup currently has a neutral rating on the stock. IQVIA traded as low as $179.28 and last traded at $183.75, with a volume of 1649439 shares traded. The stock had previously closed at $184.85.

IQV has been the subject of a number of other reports. Stephens began coverage on IQVIA in a research note on Friday, December 20th. They issued an “overweight” rating and a $250.00 price target for the company. UBS Group decreased their price target on IQVIA from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Truist Financial reiterated a “buy” rating and issued a $263.00 price target (up from $261.00) on shares of IQVIA in a research note on Monday, February 10th. BTIG Research cut shares of IQVIA from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Finally, StockNews.com cut shares of IQVIA from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, IQVIA currently has a consensus rating of “Moderate Buy” and an average target price of $249.05.

Institutional Investors Weigh In On IQVIA

A number of institutional investors have recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH lifted its position in IQVIA by 973.2% in the fourth quarter. Siemens Fonds Invest GmbH now owns 21,345 shares of the medical research company’s stock worth $4,195,000 after purchasing an additional 19,356 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of IQVIA in the fourth quarter valued at $25,152,000. Forum Financial Management LP increased its holdings in shares of IQVIA by 53.2% in the fourth quarter. Forum Financial Management LP now owns 2,067 shares of the medical research company’s stock valued at $406,000 after buying an additional 718 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of IQVIA by 2.2% in the fourth quarter. Toronto Dominion Bank now owns 61,774 shares of the medical research company’s stock valued at $12,139,000 after buying an additional 1,358 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in shares of IQVIA in the fourth quarter valued at $841,000. 89.62% of the stock is currently owned by institutional investors and hedge funds.

IQVIA Price Performance

The company has a market cap of $32.36 billion, a P/E ratio of 24.50, a PEG ratio of 1.99 and a beta of 1.48. The company has a fifty day simple moving average of $198.52 and a 200-day simple moving average of $213.86. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.84 and a quick ratio of 0.84.

IQVIA (NYSE:IQV) last posted its quarterly earnings results on Thursday, February 6th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.11 by ($0.21). IQVIA had a net margin of 8.91% and a return on equity of 28.81%. On average, sell-side analysts predict that IQVIA Holdings Inc. will post 10.84 earnings per share for the current year.

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.