Morgan Stanley Cuts IQVIA (NYSE:IQV) Price Target to $265.00

IQVIA (NYSE:IQV) had its target price cut by analysts at Morgan Stanley from $280.00 to $265.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the medical research company’s stock. Morgan Stanley’s target price would suggest a potential upside of 24.44% from the company’s previous close.

Several other research firms have also recently issued reports on IQV. Redburn Atlantic initiated coverage on shares of IQVIA in a research report on Monday, October 14th. They set a “buy” rating and a $276.00 price objective on the stock. Barclays dropped their price objective on shares of IQVIA from $260.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, November 1st. The Goldman Sachs Group reduced their target price on IQVIA from $280.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Truist Financial decreased their target price on IQVIA from $300.00 to $286.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, TD Cowen lowered their target price on IQVIA from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $259.13.

IQVIA Stock Performance

IQV opened at $212.96 on Monday. The firm has a market cap of $38.65 billion, a P/E ratio of 27.95, a PEG ratio of 2.07 and a beta of 1.51. IQVIA has a 1-year low of $190.20 and a 1-year high of $261.73. The company has a 50 day simple moving average of $232.84 and a two-hundred day simple moving average of $229.54. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.81 and a quick ratio of 0.81.

Insider Activity at IQVIA

In related news, insider Eric Sherbet sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total transaction of $320,229.00. Following the completion of the transaction, the insider now directly owns 19,536 shares in the company, valued at $4,812,302.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On IQVIA

A number of hedge funds have recently bought and sold shares of IQV. Capital Performance Advisors LLP acquired a new position in IQVIA during the 3rd quarter worth approximately $27,000. Park Place Capital Corp acquired a new position in shares of IQVIA during the third quarter worth $28,000. Versant Capital Management Inc raised its stake in IQVIA by 733.3% in the second quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock valued at $26,000 after buying an additional 110 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in IQVIA during the 2nd quarter worth about $27,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of IQVIA during the 2nd quarter worth about $29,000. 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.