IQVIA (NYSE:IQV) Price Target Increased to $275.00 by Analysts at Barclays

IQVIA (NYSE:IQV) had its price target boosted by Barclays from $255.00 to $275.00 in a research report released on Tuesday, Benzinga reports. Barclays currently has an overweight rating on the medical research company’s stock.

Other analysts also recently issued reports about the company. StockNews.com upgraded IQVIA from a hold rating to a buy rating in a research note on Monday, July 15th. The Goldman Sachs Group assumed coverage on IQVIA in a research note on Thursday, June 6th. They set a buy rating and a $270.00 target price for the company. Evercore ISI lowered their target price on IQVIA from $250.00 to $230.00 and set an outperform rating for the company in a research note on Tuesday, July 9th. Robert W. Baird raised their target price on IQVIA from $235.00 to $251.00 and gave the company a neutral rating in a research note on Tuesday. Finally, Truist Financial lowered their target price on IQVIA from $297.00 to $292.00 and set a buy rating for the company in a research note on Friday, May 3rd. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $263.56.

IQVIA Trading Up 3.2 %

NYSE:IQV opened at $239.67 on Tuesday. The business’s 50-day moving average is $220.23 and its two-hundred day moving average is $229.41. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.85 and a quick ratio of 0.88. IQVIA has a 12 month low of $167.42 and a 12 month high of $261.73. The firm has a market capitalization of $43.69 billion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 2.24 and a beta of 1.49.

IQVIA (NYSE:IQV) last released its quarterly earnings data on Monday, July 22nd. The medical research company reported $2.64 EPS 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 company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the company posted $2.22 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. Research analysts predict that IQVIA will post 10.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IQVIA

A number of hedge funds and other institutional investors have recently bought and sold shares of IQV. Norges Bank acquired a new position in IQVIA in the fourth quarter valued at approximately $383,705,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in IQVIA by 339.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,067,195 shares of the medical research company’s stock valued at $478,308,000 after acquiring an additional 1,597,003 shares during the period. Morningstar Investment Services LLC boosted its stake in IQVIA by 96.9% in the fourth quarter. Morningstar Investment Services LLC now owns 1,231,916 shares of the medical research company’s stock valued at $286,704,000 after acquiring an additional 606,333 shares during the period. Capital Research Global Investors boosted its stake in IQVIA by 42.2% in the fourth quarter. Capital Research Global Investors now owns 1,995,269 shares of the medical research company’s stock valued at $461,675,000 after acquiring an additional 592,372 shares during the period. Finally, Cadian Capital Management LP acquired a new position in IQVIA in the fourth quarter valued at approximately $70,108,000. 89.62% of the stock is currently owned by institutional investors and hedge funds.

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.