Royal Bank of Canada Reaffirms “Outperform” Rating for IQVIA (NYSE:IQV)

IQVIA (NYSE:IQV)‘s stock had its “outperform” rating reaffirmed by Royal Bank of Canada in a research report issued on Wednesday,Benzinga reports. They currently have a $270.00 price target on the medical research company’s stock. Royal Bank of Canada’s target price points to a potential upside of 35.05% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Truist Financial decreased their price target on IQVIA from $286.00 to $265.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of IQVIA from $270.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Evercore ISI reduced their price target on shares of IQVIA from $270.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Redburn Atlantic started coverage on IQVIA in a research report on Monday, October 14th. They issued a “buy” rating and a $276.00 price objective on the stock. Finally, Leerink Partners restated an “outperform” rating and set a $248.00 target price (down from $260.00) on shares of IQVIA in a research report on Tuesday, November 19th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $256.50.

IQVIA Price Performance

IQVIA stock opened at $199.92 on Wednesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.81 and a quick ratio of 0.81. IQVIA has a one year low of $187.62 and a one year high of $261.73. The firm has a market capitalization of $36.29 billion, a P/E ratio of 26.24, a PEG ratio of 2.06 and a beta of 1.49. The business has a fifty day moving average price of $215.82 and a 200-day moving average price of $225.33.

Institutional Trading of IQVIA

Several institutional investors have recently added to or reduced their stakes in the business. PGGM Investments boosted its holdings in IQVIA by 55.8% during the 2nd quarter. PGGM Investments now owns 12,073 shares of the medical research company’s stock valued at $2,553,000 after acquiring an additional 4,326 shares during the period. Simplify Asset Management Inc. increased its stake in shares of IQVIA by 67.8% in the third quarter. Simplify Asset Management Inc. now owns 9,637 shares of the medical research company’s stock worth $2,284,000 after buying an additional 3,894 shares during the period. Raymond James & Associates raised its holdings in IQVIA by 0.7% during the 2nd quarter. Raymond James & Associates now owns 800,374 shares of the medical research company’s stock valued at $169,231,000 after buying an additional 5,417 shares during the last quarter. Versor Investments LP purchased a new stake in IQVIA during the 3rd quarter valued at $1,328,000. Finally, Gradient Investments LLC grew its holdings in IQVIA by 15.6% in the 2nd quarter. Gradient Investments LLC now owns 45,401 shares of the medical research company’s stock worth $9,600,000 after acquiring an additional 6,134 shares during the last quarter. 89.62% of the stock is currently owned by hedge funds and other institutional investors.

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.