Truist Financial Lowers IQVIA (NYSE:IQV) Price Target to $265.00

IQVIA (NYSE:IQV) had its price objective reduced by equities researchers at Truist Financial from $286.00 to $265.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Truist Financial’s price objective suggests a potential upside of 26.20% from the company’s previous close.

IQV has been the topic of a number of other reports. Barclays cut their target price on shares of IQVIA from $260.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday. Redburn Atlantic started coverage on IQVIA in a report on Monday, October 14th. They issued a “buy” rating and a $276.00 price target for the company. UBS Group upped their price target on IQVIA from $295.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Robert W. Baird lowered their price target on IQVIA from $256.00 to $223.00 and set a “neutral” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. lowered their price target on IQVIA from $288.00 to $279.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $261.56.

IQVIA Stock Up 0.4 %

Shares of IQV stock traded up $0.83 during trading hours on Monday, reaching $209.99. 694,006 shares of the stock were exchanged, compared to its average volume of 1,085,565. The business’s fifty day moving average is $234.31 and its two-hundred day moving average is $229.76. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.81 and a quick ratio of 0.85. IQVIA has a 12-month low of $190.20 and a 12-month high of $261.73. The firm has a market capitalization of $38.28 billion, a P/E ratio of 27.55, a P/E/G ratio of 2.01 and a beta of 1.51.

Insider Activity

In related news, insider Eric Sherbet sold 1,300 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total transaction of $320,229.00. Following the completion of the sale, the insider now directly owns 19,536 shares of the company’s stock, valued at $4,812,302.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. 1832 Asset Management L.P. increased its position in shares of IQVIA by 472.3% in the second quarter. 1832 Asset Management L.P. now owns 456,335 shares of the medical research company’s stock valued at $96,487,000 after buying an additional 376,595 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of IQVIA in the second quarter valued at $70,610,000. Impax Asset Management Group plc increased its position in shares of IQVIA by 19.3% in the second quarter. Impax Asset Management Group plc now owns 1,635,201 shares of the medical research company’s stock valued at $344,998,000 after buying an additional 264,555 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of IQVIA by 6.6% in the second quarter. Canada Pension Plan Investment Board now owns 3,403,488 shares of the medical research company’s stock valued at $719,634,000 after buying an additional 211,653 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in shares of IQVIA by 285.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 268,552 shares of the medical research company’s stock valued at $56,783,000 after buying an additional 198,808 shares in the last quarter. Hedge funds and other institutional investors own 89.62% of the company’s stock.

IQVIA Company Profile

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.