IQVIA (NYSE:IQV) Price Target Cut to $250.00

IQVIA (NYSE:IQV) had its price objective reduced by investment analysts at Evercore ISI from $275.00 to $250.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical research company’s stock. Evercore ISI’s price target points to a potential upside of 11.92% from the stock’s previous close.

IQV has been the topic of several other reports. Robert W. Baird dropped their price objective on IQVIA from $254.00 to $245.00 and set a “neutral” rating on the stock in a report on Friday. Leerink Partnrs restated an “outperform” rating on shares of IQVIA in a research report on Monday, February 26th. Guggenheim cut shares of IQVIA from a “buy” rating to a “neutral” rating in a research note on Thursday, February 15th. Barclays raised their price target on shares of IQVIA from $260.00 to $265.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Finally, Truist Financial cut their price objective on IQVIA from $297.00 to $292.00 and set a “buy” rating for the company in a research note on Friday. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, IQVIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.57.

IQVIA Price Performance

Shares of NYSE IQV opened at $223.37 on Friday. IQVIA has a 52 week low of $167.42 and a 52 week high of $261.73. The business’s 50 day moving average price is $244.08 and its 200 day moving average price is $224.01. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 2.02. The firm has a market cap of $40.54 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.16 and a beta of 1.52.

IQVIA (NYSE:IQV) last posted its earnings results on Wednesday, February 14th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.02. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.80 billion. IQVIA had a net margin of 9.01% and a return on equity of 29.17%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.54 earnings per share. On average, sell-side analysts expect that IQVIA will post 10.12 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Ari Bousbib sold 31,678 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the sale, the insider now directly owns 796,752 shares in the company, valued at $199,610,278.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other IQVIA news, insider Ari Bousbib sold 31,678 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $250.53, for a total value of $7,936,289.34. Following the sale, the insider now directly owns 796,752 shares in the company, valued at $199,610,278.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eric Sherbet sold 1,000 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $241.50, for a total value of $241,500.00. Following the transaction, the insider now directly owns 20,836 shares of the company’s stock, valued at $5,031,894. The disclosure for this sale can be found here. Insiders sold 41,285 shares of company stock valued at $10,331,003 in the last three months. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On IQVIA

Large investors have recently modified their holdings of the company. Los Angeles Capital Management LLC grew its position in IQVIA by 17.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 118,616 shares of the medical research company’s stock valued at $27,445,000 after buying an additional 17,677 shares during the last quarter. International Assets Investment Management LLC acquired a new position in IQVIA during the 4th quarter worth approximately $13,759,000. Schwartz Investment Counsel Inc. raised its stake in shares of IQVIA by 4.1% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 178,690 shares of the medical research company’s stock worth $41,345,000 after buying an additional 7,050 shares in the last quarter. Gilliland Jeter Wealth Management LLC acquired a new stake in shares of IQVIA in the 4th quarter valued at approximately $986,000. Finally, Dfpg Investments LLC purchased a new position in IQVIA in the fourth quarter worth $1,106,000. 89.62% of the stock is 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.