IQVIA (NYSE:IQV) Rating Lowered to Hold at Jefferies Financial Group

IQVIA (NYSE:IQV) was downgraded by equities research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Wednesday, Marketbeat reports. They currently have a $242.00 target price on the medical research company’s stock, down from their previous target price of $266.00. Jefferies Financial Group’s target price would indicate a potential upside of 4.18% from the stock’s current price.

Several other analysts have also recently commented on the company. UBS Group raised their target price on IQVIA from $295.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday. StockNews.com upgraded IQVIA from a “hold” rating to a “buy” rating in a research report on Monday, July 15th. Barclays lifted their price objective on IQVIA from $255.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday. Truist Financial raised their price target on IQVIA from $292.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Robert W. Baird boosted their price target on IQVIA from $235.00 to $251.00 and gave the company a “neutral” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, IQVIA presently has an average rating of “Moderate Buy” and a consensus target price of $263.56.

IQVIA Stock Down 2.7 %

Shares of IQV opened at $232.30 on Wednesday. The company’s fifty day moving average is $220.06 and its two-hundred day moving average is $229.30. 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 0.88, a current ratio of 0.85 and a debt-to-equity ratio of 1.80. The firm has a market cap of $42.35 billion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 2.19 and a beta of 1.49.

IQVIA (NYSE:IQV) last announced its quarterly earnings data 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. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period in the previous year, the company earned $2.22 earnings per share. IQVIA’s quarterly revenue was up 2.3% on a year-over-year basis. Analysts forecast that IQVIA will post 10.11 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. AdvisorNet Financial Inc lifted its position in shares of IQVIA by 327.6% during the 4th quarter. AdvisorNet Financial Inc now owns 124 shares of the medical research company’s stock worth $29,000 after buying an additional 95 shares during the last quarter. Rise Advisors LLC bought a new position in shares of IQVIA in the 1st quarter worth about $31,000. Versant Capital Management Inc increased its stake in shares of IQVIA by 733.3% in the 2nd quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 110 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of IQVIA in the 1st quarter valued at about $32,000. Finally, Opal Wealth Advisors LLC acquired a new stake in IQVIA in the 2nd quarter valued at $27,000. Institutional investors own 89.62% of the company’s stock.

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.