IQVIA’s (IQV) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of IQVIA (NYSE:IQV) in a report published on Friday morning, Benzinga reports. Royal Bank of Canada currently has a $270.00 target price on the medical research company’s stock.

IQV has been the subject of a number of other reports. The Goldman Sachs Group decreased their price objective on IQVIA from $280.00 to $250.00 and set a “buy” rating for the company in a report on Friday. Redburn Atlantic assumed coverage on IQVIA in a research note on Monday, October 14th. They issued a “buy” rating and a $276.00 price target for the company. Barclays cut their price objective on IQVIA from $275.00 to $260.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. Argus raised shares of IQVIA to a “strong-buy” rating in a research report on Wednesday, July 31st. Finally, Robert W. Baird dropped their price target on shares of IQVIA from $256.00 to $223.00 and set a “neutral” rating on the stock in a research report on Friday. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $261.56.

IQVIA Stock Up 0.5 %

Shares of NYSE IQV opened at $210.19 on Friday. The company has a 50 day simple moving average of $233.55 and a 200 day simple moving average of $229.64. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.81 and a quick ratio of 0.81. IQVIA has a 1 year low of $190.20 and a 1 year high of $261.73. The firm has a market cap of $38.15 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 2.07 and a beta of 1.51.

Insiders Place Their Bets

In other news, insider Eric Sherbet sold 1,300 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 19,536 shares of the company’s stock, valued at $4,812,302.88. This 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.

Hedge Funds Weigh In On IQVIA

Large investors have recently added to or reduced their stakes in the business. 1832 Asset Management L.P. raised its stake 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 worth $96,487,000 after purchasing an additional 376,595 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in IQVIA in the 2nd quarter valued at $70,610,000. Impax Asset Management Group plc lifted its stake in IQVIA by 19.3% during the 2nd 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 acquiring an additional 264,555 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in IQVIA by 6.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,403,488 shares of the medical research company’s stock worth $719,634,000 after acquiring an additional 211,653 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of IQVIA by 285.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 268,552 shares of the medical research company’s stock worth $56,783,000 after acquiring an additional 198,808 shares in 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.