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

StockNews.com upgraded shares of IQVIA (NYSE:IQV) from a hold rating to a buy rating in a research note issued to investors on Thursday.

Several other analysts have also commented on the stock. JPMorgan Chase & Co. increased their price target on shares of IQVIA from $260.00 to $288.00 and gave the company an overweight rating in a research report on Monday, August 5th. Argus upgraded shares of IQVIA to a strong-buy rating in a research report on Wednesday, July 31st. Morgan Stanley increased their price target on shares of IQVIA from $270.00 to $280.00 and gave the company an overweight rating in a research report on Tuesday, July 23rd. Royal Bank of Canada began coverage on shares of IQVIA in a research report on Wednesday. They issued an outperform rating and a $275.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on shares of IQVIA in a research report on Thursday, June 6th. They issued a buy rating and a $270.00 price target on the stock. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, IQVIA presently has a consensus rating of Moderate Buy and a consensus price target of $266.25.

IQVIA Trading Down 0.3 %

Shares of IQV opened at $248.11 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.80. The firm’s 50-day moving average is $234.28 and its two-hundred day moving average is $234.60. IQVIA has a twelve month low of $167.42 and a twelve month high of $261.73. The firm has a market capitalization of $45.21 billion, a P/E ratio of 33.89, a PEG ratio of 2.37 and a beta of 1.49.

IQVIA (NYSE:IQV) last issued its earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.07. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period in the prior year, the business posted $2.22 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts predict that IQVIA will post 10.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 of the company’s stock, valued at $4,812,302.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IQVIA

Large investors have recently bought and sold shares of the stock. Versant Capital Management Inc raised its stake in IQVIA by 733.3% during the second quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock worth $26,000 after purchasing an additional 110 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of IQVIA in the second quarter worth $27,000. Itau Unibanco Holding S.A. acquired a new stake in shares of IQVIA in the second quarter worth $29,000. Rise Advisors LLC acquired a new stake in shares of IQVIA in the first quarter worth $31,000. Finally, Riverview Trust Co acquired a new stake in shares of IQVIA in the first quarter worth $32,000. Hedge funds and other 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.