IQVIA (NYSE:IQV) Rating Lowered to Hold at StockNews.com

IQVIA (NYSE:IQV) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Several other research analysts have also commented on the company. Morgan Stanley boosted their price target on IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. 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 raised shares of IQVIA to a “strong-buy” rating in a research report on Wednesday, July 31st. Truist Financial increased their price objective on IQVIA from $292.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group lowered IQVIA from a “buy” rating to a “hold” rating and reduced their target price for the company from $266.00 to $242.00 in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, IQVIA has an average rating of “Moderate Buy” and a consensus target price of $267.00.

IQVIA Stock Down 0.7 %

NYSE IQV traded down $1.67 on Friday, reaching $234.56. 858,549 shares of the stock traded hands, compared to its average volume of 1,085,846. The company has a market cap of $42.76 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 2.26 and a beta of 1.49. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.85 and a current ratio of 0.85. IQVIA has a 12 month low of $167.42 and a 12 month high of $261.73. The company has a fifty day moving average price of $241.29 and a 200-day moving average price of $233.69.

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

Insider Activity at IQVIA

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the 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 sale, the insider now directly owns 19,536 shares of the company’s stock, valued at approximately $4,812,302.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IQVIA

Several large investors have recently made changes to their positions in IQV. Jennison Associates LLC increased its holdings in IQVIA by 7.3% in the first quarter. Jennison Associates LLC now owns 140,914 shares of the medical research company’s stock valued at $35,636,000 after buying an additional 9,578 shares in the last quarter. Cadian Capital Management LP acquired a new stake in shares of IQVIA during the 4th quarter valued at about $70,108,000. Nomura Holdings Inc. purchased a new position in shares of IQVIA in the 4th quarter valued at about $857,000. PGGM Investments raised its holdings in IQVIA by 55.8% in the 2nd 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 period. Finally, Fiduciary Alliance LLC acquired a new stake in IQVIA in the first quarter valued at approximately $1,864,000. 89.62% of the stock is currently owned by institutional investors and hedge funds.

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.