IQVIA (NYSE:IQV) Price Target Raised to $304.00

IQVIA (NYSE:IQV) had its price target hoisted by research analysts at Stifel Nicolaus from $300.00 to $304.00 in a report issued on Friday, The Fly reports. The firm currently has a “buy” rating on the medical research company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 18.34% from the stock’s current price.

Several other brokerages also recently issued reports on IQV. Deutsche Bank Aktiengesellschaft upped their price objective on shares of IQVIA from $244.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Robert W. Baird increased their price target on shares of IQVIA from $273.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 28th. Mizuho increased their price target on shares of IQVIA from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, July 28th. Citigroup increased their price target on shares of IQVIA from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Piper Sandler increased their price target on shares of IQVIA from $204.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 28th. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $269.00.

Shares of IQV opened at $256.89 on Friday. The company has a debt-to-equity ratio of 2.11, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $49.22 billion, a price-to-earnings ratio of 82.34, a PEG ratio of 1.94 and a beta of 1.43. The company’s 50 day simple moving average is $252.73 and its 200 day simple moving average is $242.32. IQVIA has a 1 year low of $150.65 and a 1 year high of $265.34.

IQVIA (NYSE:IQV) last announced its quarterly earnings data on Thursday, October 21st. The medical research company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.05. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.35 billion. IQVIA had a net margin of 4.69% and a return on equity of 23.95%. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.50 earnings per share. Equities analysts expect that IQVIA will post 8.26 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IQV. Amundi acquired a new stake in IQVIA during the 2nd quarter valued at $270,400,000. Credit Suisse AG grew its holdings in IQVIA by 8,868.0% during the 1st quarter. Credit Suisse AG now owns 850,346 shares of the medical research company’s stock valued at $164,235,000 after purchasing an additional 840,864 shares in the last quarter. BlackRock Inc. grew its holdings in IQVIA by 5.4% during the 2nd quarter. BlackRock Inc. now owns 15,579,850 shares of the medical research company’s stock valued at $3,775,310,000 after purchasing an additional 797,361 shares in the last quarter. Putnam Investments LLC bought a new position in IQVIA during the 2nd quarter valued at $186,160,000. Finally, Goldman Sachs Group Inc. boosted its stake in IQVIA by 68.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,656,198 shares of the medical research company’s stock valued at $401,330,000 after acquiring an additional 674,553 shares during the last quarter. 87.01% of the stock is owned by institutional investors and hedge funds.

About IQVIA

IQVIA Holdings, Inc engages in the provision of analytics, technology solutions, and clinical research services to the life sciences industry. It operates through the following segments: Technology & Analytics Solutions, Research & Development Solutions and Contract Sales & Medical Solutions. Technology & Analytics Solutions segment provides mission critical information, technology solutions and real world solutions and services to the firm’s life science clients.

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