IQVIA (NYSE:IQV) Price Target Raised to $256.00 at Robert W. Baird

IQVIA (NYSE:IQV) had its price target increased by analysts at Robert W. Baird from $251.00 to $256.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the medical research company’s stock. Robert W. Baird’s target price would indicate a potential upside of 4.65% from the company’s current price.

A number of other brokerages have also issued reports on IQV. The Goldman Sachs Group started coverage on shares of IQVIA in a report on Thursday, June 6th. They issued a “buy” rating and a $270.00 price objective for the company. Truist Financial raised their price target on shares of IQVIA from $292.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Evercore ISI upped their price objective on IQVIA from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Royal Bank of Canada initiated coverage on IQVIA in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $275.00 target price on the stock. Finally, Barclays boosted their price objective on shares of IQVIA from $255.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $267.00.

IQVIA Stock Up 0.8 %

Shares of NYSE IQV opened at $244.62 on Friday. 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 company has a 50-day moving average of $240.24 and a 200 day moving average of $234.25. IQVIA has a 12-month low of $167.42 and a 12-month high of $261.73. The stock has a market cap of $44.57 billion, a PE ratio of 33.42, a P/E/G ratio of 2.24 and a beta of 1.49.

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

Insider Buying and Selling at IQVIA

In other news, insider Eric Sherbet sold 1,300 shares of the stock in a transaction 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 sale, the insider now directly owns 19,536 shares in the company, valued at $4,812,302.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of IQVIA

Several hedge funds have recently added to or reduced their stakes in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of IQVIA by 339.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,067,195 shares of the medical research company’s stock valued at $478,308,000 after purchasing an additional 1,597,003 shares in the last quarter. Morningstar Investment Services LLC increased its holdings in IQVIA by 96.9% in the fourth quarter. Morningstar Investment Services LLC now owns 1,231,916 shares of the medical research company’s stock valued at $286,704,000 after buying an additional 606,333 shares during the last quarter. Capital Research Global Investors raised its stake in IQVIA by 42.2% in the fourth quarter. Capital Research Global Investors now owns 1,995,269 shares of the medical research company’s stock valued at $461,675,000 after buying an additional 592,372 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of IQVIA by 472.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 456,335 shares of the medical research company’s stock worth $96,487,000 after acquiring an additional 376,595 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of IQVIA in the 2nd quarter valued at about $70,610,000. Institutional investors and hedge funds 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.