TD Cowen Cuts IQVIA (NYSE:IQV) Price Target to $255.00

IQVIA (NYSE:IQV) had its price objective decreased by investment analysts at TD Cowen from $270.00 to $255.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. TD Cowen’s target price indicates a potential upside of 22.28% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Argus upgraded shares of IQVIA to a “strong-buy” rating in a report on Wednesday, July 31st. StockNews.com raised IQVIA from a “hold” rating to a “buy” rating in a research report on Wednesday. Truist Financial dropped their price target on IQVIA from $300.00 to $286.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Barclays reduced their price objective on IQVIA from $275.00 to $260.00 and set an “overweight” rating for the company in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $270.00 target price on shares of IQVIA in a research report on Friday. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $262.71.

IQVIA Stock Up 1.3 %

Shares of NYSE IQV traded up $2.71 during mid-day trading on Friday, reaching $208.53. 732,163 shares of the company traded hands, compared to its average volume of 1,082,413. IQVIA has a fifty-two week low of $181.03 and a fifty-two week high of $261.73. The stock has a market cap of $38.02 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 2.11 and a beta of 1.49. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.85 and a current ratio of 0.85. The company’s fifty day moving average is $235.10 and its two-hundred day moving average is $229.89.

Insider Buying and Selling

In related news, insider Eric Sherbet sold 1,300 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total value of $320,229.00. Following the completion of the transaction, the insider now directly owns 19,536 shares of the company’s stock, valued at approximately $4,812,302.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On IQVIA

Large investors have recently modified their holdings of the business. Jennison Associates LLC raised its position in IQVIA by 7.3% during the first quarter. Jennison Associates LLC now owns 140,914 shares of the medical research company’s stock worth $35,636,000 after acquiring an additional 9,578 shares in the last quarter. PGGM Investments lifted its stake in IQVIA by 55.8% in the 2nd quarter. PGGM Investments now owns 12,073 shares of the medical research company’s stock valued at $2,553,000 after purchasing an additional 4,326 shares during the last quarter. SG Americas Securities LLC grew its holdings in IQVIA by 80.1% during the first quarter. SG Americas Securities LLC now owns 45,787 shares of the medical research company’s stock worth $11,579,000 after purchasing an additional 20,369 shares during the period. Quadrature Capital Ltd acquired a new position in IQVIA during the first quarter worth approximately $3,365,000. Finally, BNP Paribas bought a new position in shares of IQVIA during the 1st quarter worth approximately $1,096,000. 89.62% of the stock is currently owned by institutional investors and hedge funds.

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.