IQVIA (NYSE:IQV) Shares Gap Down – What’s Next?

Shares of IQVIA Holdings Inc. (NYSE:IQV) gapped down prior to trading on Tuesday . The stock had previously closed at $204.64, but opened at $198.98. IQVIA shares last traded at $199.37, with a volume of 273,028 shares trading hands.

Analysts Set New Price Targets

Several analysts recently commented on the company. Barclays dropped their target price on IQVIA from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $270.00 target price on shares of IQVIA in a report on Wednesday, December 11th. JPMorgan Chase & Co. dropped their target price on IQVIA from $279.00 to $240.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Truist Financial dropped their price objective on IQVIA from $265.00 to $261.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, Morgan Stanley decreased their target price on IQVIA from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, IQVIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.82.

IQVIA Price Performance

The stock has a market capitalization of $36.12 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 2.05 and a beta of 1.48. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.81 and a current ratio of 0.81. The company has a 50 day moving average of $201.73 and a 200 day moving average of $221.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board grew its stake in IQVIA by 6.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,403,488 shares of the medical research company’s stock worth $719,634,000 after purchasing an additional 211,653 shares in the last quarter. Farallon Capital Management LLC lifted its holdings in IQVIA by 3.1% during the 2nd quarter. Farallon Capital Management LLC now owns 2,923,032 shares of the medical research company’s stock worth $618,046,000 after buying an additional 86,870 shares during the last quarter. FMR LLC lifted its holdings in IQVIA by 38.7% during the 3rd quarter. FMR LLC now owns 2,887,342 shares of the medical research company’s stock worth $684,213,000 after buying an additional 804,963 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in IQVIA by 46.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,845,711 shares of the medical research company’s stock worth $437,378,000 after buying an additional 583,396 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in IQVIA by 9.7% during the 3rd quarter. Impax Asset Management Group plc now owns 1,793,010 shares of the medical research company’s stock worth $423,885,000 after buying an additional 157,809 shares during the last quarter. 89.62% of the stock is 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.