Leerink Partners Reiterates Outperform Rating for IQVIA (NYSE:IQV)

IQVIA (NYSE:IQV)‘s stock had its “outperform” rating reaffirmed by research analysts at Leerink Partners in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $248.00 target price on the medical research company’s stock, down from their previous target price of $260.00. Leerink Partners’ target price would indicate a potential upside of 27.59% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Truist Financial reduced their price target on shares of IQVIA from $286.00 to $265.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Redburn Atlantic began coverage on shares of IQVIA in a research report on Monday, October 14th. They set a “buy” rating and a $276.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $270.00 target price on shares of IQVIA in a research report on Friday, November 1st. Morgan Stanley cut their target price on shares of IQVIA from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, Argus upgraded shares of IQVIA to a “strong-buy” rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $256.50.

IQVIA Price Performance

IQV opened at $194.38 on Tuesday. The firm has a market cap of $35.28 billion, a P/E ratio of 25.51, a PEG ratio of 1.98 and a beta of 1.51. The firm has a 50-day moving average of $224.22 and a 200 day moving average of $227.56. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.81 and a current ratio of 0.81. IQVIA has a fifty-two week low of $187.62 and a fifty-two week high of $261.73.

Insider Activity at IQVIA

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 directly owns 19,536 shares in the company, valued at $4,812,302.88. This trade represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. PGGM Investments grew its holdings in shares of IQVIA by 55.8% in the second quarter. PGGM Investments now owns 12,073 shares of the medical research company’s stock worth $2,553,000 after purchasing an additional 4,326 shares during the last quarter. Simplify Asset Management Inc. lifted its position in IQVIA by 67.8% during the third quarter. Simplify Asset Management Inc. now owns 9,637 shares of the medical research company’s stock valued at $2,284,000 after buying an additional 3,894 shares during the period. Quadrature Capital Ltd purchased a new position in IQVIA during the first quarter valued at $3,365,000. Raymond James & Associates lifted its position in IQVIA by 0.7% during the second quarter. Raymond James & Associates now owns 800,374 shares of the medical research company’s stock valued at $169,231,000 after buying an additional 5,417 shares during the period. Finally, Versor Investments LP purchased a new position in shares of IQVIA in the 3rd quarter worth about $1,328,000. 89.62% of the stock is currently owned by institutional investors.

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.