Barclays Trims IQVIA (NYSE:IQV) Target Price to $260.00

IQVIA (NYSE:IQV) had its price target lowered by research analysts at Barclays from $275.00 to $260.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical research company’s stock. Barclays‘s price objective points to a potential upside of 11.49% from the stock’s current price.

Several other brokerages have also recently weighed in on IQV. Truist Financial lowered their price target on shares of IQVIA from $300.00 to $286.00 and set a “buy” rating on the stock in a research report on Monday. StockNews.com raised shares of IQVIA from a “hold” rating to a “buy” rating in a research note on Monday. Redburn Atlantic initiated coverage on IQVIA in a research note on Monday. They set a “buy” rating and a $276.00 target price for the company. Jefferies Financial Group cut IQVIA from a “buy” rating to a “hold” rating and lowered their price target for the stock from $266.00 to $242.00 in a report on Wednesday, July 24th. Finally, Argus raised shares of IQVIA to a “strong-buy” rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $267.87.

IQVIA Trading Down 0.0 %

NYSE:IQV traded down $0.02 during trading hours on Tuesday, hitting $233.20. The company had a trading volume of 451,078 shares, compared to its average volume of 1,066,378. The company has a market capitalization of $42.49 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 2.18 and a beta of 1.49. The stock has a 50-day moving average price of $239.15 and a 200 day moving average price of $231.46. IQVIA has a 52 week low of $167.42 and a 52 week high of $261.73. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.85 and a quick ratio of 0.85.

IQVIA (NYSE:IQV) last posted its quarterly earnings results on Monday, July 22nd. The medical research company reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.07. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the previous year, the firm earned $2.22 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that IQVIA will post 10.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of IQVIA stock in a transaction on Tuesday, August 27th. The stock was 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 $4,812,302.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On IQVIA

Several institutional investors and hedge funds have recently added to or reduced their stakes in IQV. First Foundation Advisors boosted its position in IQVIA by 3.8% during the 2nd quarter. First Foundation Advisors now owns 1,161 shares of the medical research company’s stock worth $245,000 after buying an additional 43 shares during the period. Team Hewins LLC lifted its stake in shares of IQVIA by 5.0% in the first quarter. Team Hewins LLC now owns 973 shares of the medical research company’s stock worth $246,000 after acquiring an additional 46 shares during the period. Invera Wealth Advisors LLC lifted its position in shares of IQVIA by 0.3% in the 2nd quarter. Invera Wealth Advisors LLC now owns 14,506 shares of the medical research company’s stock worth $3,183,000 after purchasing an additional 46 shares during the period. Covestor Ltd increased its position in shares of IQVIA by 45.3% during the first quarter. Covestor Ltd now owns 154 shares of the medical research company’s stock worth $39,000 after buying an additional 48 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in IQVIA by 0.3% during the second quarter. Oregon Public Employees Retirement Fund now owns 15,668 shares of the medical research company’s stock valued at $3,313,000 after acquiring an additional 48 shares during the last quarter. 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.