IQVIA (NYSE:IQV) Stock Price Down 5% on Analyst Downgrade

IQVIA Holdings Inc. (NYSE:IQV)’s share price traded down 5% during trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $288.00 to $279.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. IQVIA traded as low as $215.00 and last traded at $216.84. 224,873 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 1,059,862 shares. The stock had previously closed at $228.31.

A number of other brokerages have also commented on IQV. Argus upgraded IQVIA to a “strong-buy” rating in a research report on Wednesday, July 31st. StockNews.com cut shares of IQVIA from a “buy” rating to a “hold” rating in a report on Tuesday. Evercore ISI dropped their price objective on shares of IQVIA from $270.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. UBS Group increased their target price on shares of IQVIA from $295.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada began coverage on shares of IQVIA in a report on Wednesday, September 4th. They set an “outperform” rating and a $275.00 price target on the stock. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $267.27.

Insider Buying and Selling

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the stock in a transaction that occurred 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On IQVIA

A number of hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of IQVIA by 5.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,898 shares of the medical research company’s stock worth $1,492,000 after acquiring an additional 300 shares during the last quarter. Fiduciary Alliance LLC bought a new position in shares of IQVIA during the 1st quarter worth about $1,864,000. Optas LLC acquired a new position in shares of IQVIA during the first quarter valued at about $209,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of IQVIA by 12.2% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 247,926 shares of the medical research company’s stock valued at $62,697,000 after buying an additional 26,921 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in IQVIA by 3.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 170,451 shares of the medical research company’s stock worth $43,105,000 after buying an additional 5,240 shares in the last quarter. 89.62% of the stock is currently owned by institutional investors.

IQVIA Stock Up 1.4 %

The firm has a 50 day moving average of $238.13 and a 200-day moving average of $230.78. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $39.11 billion, a P/E ratio of 29.32, a price-to-earnings-growth ratio of 2.22 and a beta of 1.49.

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.