IQVIA (NYSE:IQV) Given New $286.00 Price Target at Truist Financial

IQVIA (NYSE:IQV) had its price objective decreased by Truist Financial from $300.00 to $286.00 in a research report released on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the medical research company’s stock.

Other analysts have also recently issued research reports about the stock. StockNews.com cut shares of IQVIA from a buy rating to a hold rating in a report on Friday, September 27th. Argus raised shares of IQVIA to a strong-buy rating in a report on Wednesday, July 31st. Barclays raised their price objective on shares of IQVIA from $255.00 to $275.00 and gave the stock an overweight rating in a report on Tuesday, July 23rd. Jefferies Financial Group cut shares of IQVIA from a buy rating to a hold rating and cut their price objective for the stock from $266.00 to $242.00 in a report on Wednesday, July 24th. Finally, Royal Bank of Canada initiated coverage on shares of IQVIA in a report on Wednesday, September 4th. They set an outperform rating and a $275.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $268.87.

IQVIA Stock Up 1.7 %

Shares of NYSE:IQV opened at $233.22 on Monday. The firm’s 50 day moving average price is $239.15 and its 200 day moving average price is $231.46. The stock has a market cap of $42.49 billion, a price-to-earnings ratio of 31.86, a price-to-earnings-growth ratio of 2.18 and a beta of 1.49. IQVIA has a fifty-two week low of $167.42 and a fifty-two week high of $261.73. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.80.

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

Insider Activity at IQVIA

In related news, insider Eric Sherbet sold 1,300 shares of IQVIA stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total value 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On IQVIA

Institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc boosted its position in shares of IQVIA by 733.3% during the 2nd quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock worth $26,000 after purchasing an additional 110 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of IQVIA during the 2nd quarter worth $27,000. Park Place Capital Corp purchased a new stake in shares of IQVIA during the 3rd quarter worth $28,000. Itau Unibanco Holding S.A. purchased a new stake in shares of IQVIA during the 2nd quarter worth $29,000. Finally, Rise Advisors LLC purchased a new stake in shares of IQVIA during the 1st quarter worth $31,000. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

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.