IQVIA (NYSE:IQV) Reaches New 12-Month Low – What’s Next?

IQVIA Holdings Inc. (NYSE:IQV) reached a new 52-week low on Friday . The stock traded as low as $194.97 and last traded at $195.24, with a volume of 575499 shares. The stock had previously closed at $202.94.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IQV. Barclays decreased their price target on IQVIA from $260.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Morgan Stanley lowered their price target on shares of IQVIA from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their price objective on IQVIA from $270.00 to $265.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Truist Financial lowered their target price on IQVIA from $286.00 to $265.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, UBS Group lifted their price target on IQVIA from $295.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $259.13.

IQVIA Stock Down 5.4 %

The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.76. The stock’s 50-day simple moving average is $227.96 and its 200 day simple moving average is $228.59. The firm has a market cap of $34.85 billion, a P/E ratio of 25.62, a PEG ratio of 2.17 and a beta of 1.51.

Insider Activity at IQVIA

In related news, insider Eric Sherbet sold 1,300 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total transaction of $320,229.00. Following the transaction, the insider now owns 19,536 shares in the company, valued at $4,812,302.88. The trade was a 6.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IQVIA

Institutional investors have recently made changes to their positions in the stock. Investment Management Corp of Ontario lifted its holdings in shares of IQVIA by 49.4% in the 3rd quarter. Investment Management Corp of Ontario now owns 6,049 shares of the medical research company’s stock worth $1,433,000 after purchasing an additional 2,000 shares in the last quarter. HighTower Advisors LLC increased its holdings in IQVIA by 6.3% during the 3rd quarter. HighTower Advisors LLC now owns 142,031 shares of the medical research company’s stock worth $33,640,000 after purchasing an additional 8,436 shares in the last quarter. Hilltop Holdings Inc. purchased a new stake in shares of IQVIA in the third quarter worth approximately $446,000. Holocene Advisors LP purchased a new position in shares of IQVIA during the third quarter valued at approximately $45,284,000. Finally, Concentric Capital Strategies LP bought a new stake in IQVIA during the third quarter worth $4,674,000. Institutional investors and hedge funds 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.