IQVIA (NYSE:IQV) Given New $250.00 Price Target at Evercore ISI

IQVIA (NYSE:IQV) had its price objective cut by Evercore ISI from $275.00 to $250.00 in a report published on Friday morning, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

Other analysts have also issued research reports about the company. Leerink Partnrs reaffirmed an outperform rating on shares of IQVIA in a research report on Monday, February 26th. UBS Group lifted their price objective on IQVIA from $240.00 to $300.00 and gave the company a buy rating in a research note on Thursday, February 15th. BTIG Research started coverage on shares of IQVIA in a research note on Tuesday, February 13th. They issued a buy rating and a $285.00 price target for the company. Guggenheim cut shares of IQVIA from a buy rating to a neutral rating in a research report on Thursday, February 15th. Finally, Truist Financial cut their price target on IQVIA from $297.00 to $292.00 and set a buy rating on the stock 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $257.57.

IQVIA Trading Up 0.6 %

NYSE IQV traded up $1.23 on Friday, reaching $223.37. The stock had a trading volume of 1,052,929 shares, compared to its average volume of 831,136. IQVIA has a 12-month low of $167.42 and a 12-month high of $261.73. The stock has a fifty day moving average price of $244.56 and a two-hundred day moving average price of $223.84. The firm 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 quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 2.02.

IQVIA (NYSE:IQV) last issued its quarterly earnings results on Wednesday, February 14th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.02. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.80 billion. IQVIA had a net margin of 9.01% and a return on equity of 29.17%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.54 earnings per share. As a group, sell-side analysts forecast that IQVIA will post 10.12 EPS for the current fiscal year.

Insider Buying and Selling at IQVIA

In other news, insider Kevin C. Knightly sold 8,607 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 5,251 shares in the company, valued at $1,313,642.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Kevin C. Knightly sold 8,607 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $250.17, for a total transaction of $2,153,213.19. Following the completion of the sale, the insider now owns 5,251 shares in the company, valued at $1,313,642.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ari Bousbib sold 31,678 shares of IQVIA stock in a transaction 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 completion of the transaction, the insider now owns 796,752 shares in the company, valued at $199,610,278.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,285 shares of company stock worth $10,331,003. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On IQVIA

A number of institutional investors have recently added to or reduced their stakes in IQV. AdvisorNet Financial Inc boosted its position in shares of IQVIA by 327.6% during the 4th quarter. AdvisorNet Financial Inc now owns 124 shares of the medical research company’s stock worth $29,000 after purchasing an additional 95 shares in the last quarter. Rise Advisors LLC purchased a new stake in IQVIA during the first quarter worth about $31,000. BKM Wealth Management LLC acquired a new position in IQVIA during the fourth quarter worth about $32,000. Riverview Trust Co purchased a new position in IQVIA in the first quarter valued at about $32,000. Finally, Activest Wealth Management acquired a new stake in shares of IQVIA during the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors 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.