IQVIA (NYSE:IQV) Upgraded to “Strong-Buy” by Argus

Argus upgraded shares of IQVIA (NYSE:IQV) to a strong-buy rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

A number of other research analysts also recently issued reports on the company. UBS Group increased their target price on IQVIA from $295.00 to $300.00 and gave the stock a buy rating in a research note on Tuesday, July 23rd. Robert W. Baird increased their price target on IQVIA from $235.00 to $251.00 and gave the stock a neutral rating in a research report on Tuesday, July 23rd. Jefferies Financial Group downgraded IQVIA from a buy rating to a hold rating and dropped their price target for the stock from $266.00 to $242.00 in a research report on Wednesday, July 24th. The Goldman Sachs Group began coverage on IQVIA in a research report on Thursday, June 6th. They set a buy rating and a $270.00 price target on the stock. Finally, Morgan Stanley increased their price target on IQVIA from $270.00 to $280.00 and gave the stock an overweight rating in a research report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $262.40.

IQVIA Price Performance

IQV opened at $241.78 on Wednesday. The stock has a 50-day moving average price of $221.77 and a 200-day moving average price of $230.37. 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 firm has a market cap of $44.08 billion, a PE ratio of 33.03, a P/E/G ratio of 2.35 and a beta of 1.49. IQVIA has a 1 year low of $167.42 and a 1 year high of $261.73.

IQVIA (NYSE:IQV) last issued its earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.07. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the firm earned $2.22 EPS. IQVIA’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts predict that IQVIA will post 10.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IQVIA

Large investors have recently bought and sold shares of the stock. AdvisorNet Financial Inc boosted its position in shares of IQVIA by 327.6% in the 4th quarter. AdvisorNet Financial Inc now owns 124 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 95 shares during the period. Rise Advisors LLC purchased a new position in IQVIA during the 1st quarter worth approximately $31,000. Versant Capital Management Inc grew its stake in shares of IQVIA by 733.3% in the 2nd quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 110 shares during the last quarter. Riverview Trust Co purchased a new position in shares of IQVIA in the 1st quarter valued at approximately $32,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of IQVIA in the 2nd quarter valued at approximately $27,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.

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.