IQVIA (NYSE:IQV) Given New $245.00 Price Target at Robert W. Baird

IQVIA (NYSE:IQV) had its price target cut by Robert W. Baird from $254.00 to $245.00 in a report issued on Friday, Benzinga reports. They currently have a neutral rating on the medical research company’s stock.

A number of other research analysts have also recently weighed in on the stock. Leerink Partnrs reiterated an outperform rating on shares of IQVIA in a research report on Monday, February 26th. StockNews.com upgraded shares of IQVIA from a hold rating to a buy rating in a report on Friday, February 16th. Truist Financial raised their price objective on shares of IQVIA from $286.00 to $297.00 and gave the stock a buy rating in a research note on Tuesday, February 27th. Evercore ISI increased their price target on IQVIA from $255.00 to $265.00 and gave the stock a market outperform rating in a report on Thursday, February 15th. Finally, SVB Leerink assumed coverage on IQVIA in a research report on Monday, February 26th. They issued an outperform rating and a $290.00 price objective on the stock. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, IQVIA presently has a consensus rating of Moderate Buy and an average target price of $257.57.

IQVIA Price Performance

IQV stock traded up $1.23 during mid-day trading on Friday, hitting $223.37. The company had a trading volume of 1,052,929 shares, compared to its average volume of 831,136. The company has a market capitalization of $40.54 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 2.15 and a beta of 1.52. The company has a 50-day moving average price of $244.56 and a 200 day moving average price of $223.84. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 2.02. IQVIA has a 12-month low of $167.42 and a 12-month high of $261.73.

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

Insider Activity at IQVIA

In other news, insider Ari Bousbib sold 31,678 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the transaction, the insider now directly owns 796,752 shares of the company’s stock, valued at $199,610,278.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other IQVIA news, insider Kevin C. Knightly sold 8,607 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total transaction of $2,153,213.19. Following the sale, the insider now owns 5,251 shares of the company’s stock, valued at approximately $1,313,642.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $7,936,289.34. Following the completion of the transaction, the insider now directly owns 796,752 shares of the company’s stock, valued at approximately $199,610,278.56. The disclosure for this sale can be found here. Insiders sold 41,285 shares of company stock valued at $10,331,003 over the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Trading of IQVIA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC raised its holdings in shares of IQVIA by 2.9% during the third quarter. Lazard Asset Management LLC now owns 2,889,263 shares of the medical research company’s stock worth $568,460,000 after purchasing an additional 80,189 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in IQVIA by 4.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,418,392 shares of the medical research company’s stock valued at $532,070,000 after acquiring an additional 93,194 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in IQVIA by 3.4% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,325,198 shares of the medical research company’s stock worth $457,483,000 after purchasing an additional 77,422 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of IQVIA by 339.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,067,195 shares of the medical research company’s stock valued at $478,308,000 after purchasing an additional 1,597,003 shares during the period. Finally, Capital Research Global Investors grew its position in IQVIA by 42.2% during the fourth quarter. Capital Research Global Investors now owns 1,995,269 shares of the medical research company’s stock valued at $461,675,000 after buying an additional 592,372 shares during the period. 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.