IQVIA (NYSE:IQV) Price Target Increased to $300.00 by Analysts at UBS Group

IQVIA (NYSE:IQV) had its target price raised by stock analysts at UBS Group from $295.00 to $300.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. UBS Group’s price target would suggest a potential upside of 24.28% from the stock’s previous close.

Several other analysts also recently issued reports on IQV. StockNews.com raised IQVIA from a “hold” rating to a “buy” rating in a research note on Monday, July 15th. Evercore ISI upped their price objective on shares of IQVIA from $230.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday. Robert W. Baird boosted their price target on IQVIA from $235.00 to $251.00 and gave the company a “neutral” rating in a report on Tuesday. Barclays upped their price objective on IQVIA from $255.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, The Goldman Sachs Group assumed coverage on IQVIA in a research report on Thursday, June 6th. They issued a “buy” rating and a $270.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, IQVIA currently has a consensus rating of “Moderate Buy” and an average price target of $261.33.

IQVIA Price Performance

Shares of NYSE:IQV traded down $3.83 during trading on Tuesday, hitting $241.40. 351,409 shares of the stock were exchanged, compared to its average volume of 1,071,213. IQVIA has a 12-month low of $167.42 and a 12-month high of $261.73. The company has a market cap of $43.98 billion, a PE ratio of 32.98, a P/E/G ratio of 2.06 and a beta of 1.49. The company has a fifty day moving average price of $219.86 and a two-hundred day moving average price of $229.08. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 2.02.

IQVIA (NYSE:IQV) last announced its earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.07. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.79 billion. IQVIA had a net margin of 9.01% and a return on equity of 29.17%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.22 earnings per share. On average, analysts forecast that IQVIA will post 10.11 EPS for the current year.

Hedge Funds Weigh In On IQVIA

Large investors have recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC acquired a new position in shares of IQVIA in the 2nd quarter valued at about $324,000. First Citizens Bank & Trust Co. lifted its holdings in IQVIA by 12.1% in the second quarter. First Citizens Bank & Trust Co. now owns 3,778 shares of the medical research company’s stock worth $799,000 after acquiring an additional 409 shares during the last quarter. Continuum Advisory LLC grew its holdings in shares of IQVIA by 3.3% during the second quarter. Continuum Advisory LLC now owns 1,538 shares of the medical research company’s stock valued at $325,000 after purchasing an additional 49 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of IQVIA by 2.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 513,221 shares of the medical research company’s stock worth $108,515,000 after purchasing an additional 13,095 shares during the period. Finally, Milestone Asset Management LLC lifted its holdings in shares of IQVIA by 15.0% in the 2nd quarter. Milestone Asset Management LLC now owns 1,716 shares of the medical research company’s stock worth $363,000 after purchasing an additional 224 shares during the last quarter. 89.62% of the stock is currently owned by institutional investors.

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.