Robert W. Baird Cuts IQVIA (NYSE:IQV) Price Target to $245.00

IQVIA (NYSE:IQV) had its price objective reduced by Robert W. Baird from $254.00 to $245.00 in a research report sent to investors on Friday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the medical research company’s stock.

Several other analysts have also recently issued reports on the stock. Guggenheim cut shares of IQVIA from a buy rating to a neutral rating in a research note on Thursday, February 15th. BTIG Research started coverage on IQVIA in a report on Tuesday, February 13th. They issued a buy rating and a $285.00 price target for the company. SVB Leerink began coverage on IQVIA in a research report on Monday, February 26th. They set an outperform rating and a $290.00 price objective on the stock. Barclays upped their target price on IQVIA from $260.00 to $265.00 and gave the company an overweight rating in a report on Thursday, February 15th. Finally, Evercore ISI lifted their price target on IQVIA from $255.00 to $265.00 and gave the stock a market outperform rating in a report on Thursday, February 15th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $257.57.

IQVIA Trading Up 1.7 %

Shares of IQVIA stock opened at $227.09 on Friday. IQVIA has a twelve month low of $167.42 and a twelve month high of $261.73. The firm’s 50-day moving average price is $243.68 and its 200 day moving average price is $224.72. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $41.38 billion, a PE ratio of 31.02, a P/E/G ratio of 2.16 and a beta of 1.52.

IQVIA (NYSE:IQV) last issued its quarterly earnings results on Wednesday, February 14th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.02. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.80 billion. IQVIA had a return on equity of 29.17% and a net margin of 9.01%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.54 earnings per share. On average, sell-side analysts predict that IQVIA will post 10.12 EPS for the current fiscal year.

Insider Buying and Selling at IQVIA

In other news, insider Eric Sherbet sold 1,000 shares of IQVIA stock in a transaction on Friday, February 16th. The stock was sold at an average price of $241.50, for a total value of $241,500.00. Following the completion of the sale, the insider now directly owns 20,836 shares of the company’s stock, valued at $5,031,894. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other IQVIA news, insider Ari Bousbib sold 31,678 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the sale, the insider now directly owns 796,752 shares in the company, valued at approximately $199,610,278.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Eric Sherbet sold 1,000 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $241.50, for a total transaction of $241,500.00. Following the completion of the transaction, the insider now owns 20,836 shares of the company’s stock, valued at approximately $5,031,894. The disclosure for this sale can be found here. Insiders have sold a total of 41,285 shares of company stock valued at $10,331,003 over the last quarter. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IQV. Team Hewins LLC raised its holdings in IQVIA by 5.0% in the first quarter. Team Hewins LLC now owns 973 shares of the medical research company’s stock valued at $246,000 after acquiring an additional 46 shares in the last quarter. Jag Capital Management LLC raised its holdings in shares of IQVIA by 0.4% in the 4th quarter. Jag Capital Management LLC now owns 11,401 shares of the medical research company’s stock valued at $2,638,000 after purchasing an additional 49 shares in the last quarter. Laurel Wealth Advisors LLC grew its stake in shares of IQVIA by 1.1% during the third quarter. Laurel Wealth Advisors LLC now owns 4,710 shares of the medical research company’s stock worth $927,000 after purchasing an additional 50 shares in the last quarter. Raleigh Capital Management Inc. lifted its stake in IQVIA by 4.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,157 shares of the medical research company’s stock valued at $268,000 after buying an additional 50 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of IQVIA by 18.1% in the third quarter. Parkside Financial Bank & Trust now owns 346 shares of the medical research company’s stock valued at $68,000 after acquiring an additional 53 shares during the period. 89.62% of the stock is currently owned by hedge funds and other 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.