IQVIA (NYSE:IQV) PT Lowered to $279.00

IQVIA (NYSE:IQV) had its price target reduced by JPMorgan Chase & Co. from $288.00 to $279.00 in a report published on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical research company’s stock.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada initiated coverage on shares of IQVIA in a report on Wednesday, September 4th. They issued an “outperform” rating and a $275.00 price objective for the company. UBS Group upped their price target on IQVIA from $295.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Barclays dropped their price objective on IQVIA from $275.00 to $260.00 and set an “overweight” rating on the stock in a report on Tuesday, October 15th. Argus raised IQVIA to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Robert W. Baird lifted their price target on shares of IQVIA from $251.00 to $256.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, IQVIA has a consensus rating of “Moderate Buy” and a consensus price target of $267.27.

IQVIA Price Performance

Shares of NYSE IQV opened at $214.63 on Wednesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $39.11 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 2.22 and a beta of 1.49. The firm’s 50 day simple moving average is $238.13 and its 200-day simple moving average is $230.78. IQVIA has a 12 month low of $167.42 and a 12 month high of $261.73.

Insider Activity at IQVIA

In other news, insider Eric Sherbet sold 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IQVIA

Institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board increased its stake in shares of IQVIA by 6.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,403,488 shares of the medical research company’s stock worth $719,634,000 after acquiring an additional 211,653 shares during the last quarter. Lazard Asset Management LLC increased its position in IQVIA by 0.9% during the first quarter. Lazard Asset Management LLC now owns 3,263,944 shares of the medical research company’s stock worth $825,416,000 after purchasing an additional 30,014 shares during the last quarter. Farallon Capital Management LLC raised its stake in IQVIA by 3.1% during the second quarter. Farallon Capital Management LLC now owns 2,923,032 shares of the medical research company’s stock worth $618,046,000 after purchasing an additional 86,870 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in IQVIA by 3.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,510,685 shares of the medical research company’s stock valued at $634,927,000 after purchasing an additional 92,293 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of IQVIA by 7.2% during the 1st quarter. Capital Research Global Investors now owns 2,138,802 shares of the medical research company’s stock worth $540,882,000 after buying an additional 143,533 shares during the last quarter. Hedge funds and other 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.