IQVIA (NYSE:IQV) Price Target Cut to $260.00 by Analysts at Barclays

IQVIA (NYSE:IQV) had its price objective trimmed by Barclays from $275.00 to $260.00 in a research note published on Tuesday, Benzinga reports. The firm currently has an overweight rating on the medical research company’s stock.

Several other equities analysts have also recently issued reports on IQV. Truist Financial decreased their price target on shares of IQVIA from $300.00 to $286.00 and set a “buy” rating for the company in a research report on Monday, October 14th. StockNews.com upgraded shares of IQVIA from a “hold” rating to a “buy” rating in a research report on Monday, October 14th. Robert W. Baird upped their price target on shares of IQVIA from $251.00 to $256.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. upped their price objective on shares of IQVIA from $260.00 to $288.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Argus raised shares of IQVIA to a “strong-buy” rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, IQVIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $267.87.

IQVIA Price Performance

IQV stock opened at $236.61 on Tuesday. The company has a 50 day simple moving average of $239.08 and a 200 day simple moving average of $231.26. The stock has a market cap of $43.13 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 2.22 and a beta of 1.49. IQVIA has a 1 year low of $167.42 and a 1 year 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 released its quarterly earnings data on Monday, July 22nd. The medical research company reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.07. IQVIA had a net margin of 9.39% and a return on equity of 28.59%. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the prior year, the company earned $2.22 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts anticipate that IQVIA will post 10.25 EPS for the current fiscal year.

Insider Buying and Selling

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total transaction of $320,229.00. Following the transaction, the insider now owns 19,536 shares in the company, valued at approximately $4,812,302.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.60% of the stock is owned by insiders.

Institutional Trading of IQVIA

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cahaba Wealth Management Inc. purchased a new stake in shares of IQVIA in the third quarter valued at about $206,000. Raymond James & Associates raised its holdings in shares of IQVIA by 2.5% in the third quarter. Raymond James & Associates now owns 820,771 shares of the medical research company’s stock valued at $194,498,000 after purchasing an additional 20,397 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of IQVIA by 266.5% in the third quarter. Blue Trust Inc. now owns 1,030 shares of the medical research company’s stock valued at $244,000 after purchasing an additional 749 shares during the last quarter. Net Worth Advisory Group purchased a new stake in shares of IQVIA in the third quarter valued at about $259,000. Finally, Inspire Advisors LLC raised its holdings in shares of IQVIA by 10.0% in the third quarter. Inspire Advisors LLC now owns 2,348 shares of the medical research company’s stock valued at $557,000 after purchasing an additional 214 shares during the last quarter. Hedge funds and other 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.